Fannie, Freddie Regulator Seeks Power to Close Companies

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00003475-fannie-freddie-regulator-seeks-power-to-c/

The federal office that regulates Fannie Mae and Freddie Mac is seeking authority to close the giant mortgage finance companies in the event of a financial crisis, as legislation toughening rules on the firms begins to make its way through Congress.

“Receivership is a valuable thing,” Patrick Lawler, chief economist of the Office of Federal Housing Enterprise Oversight, told a forum about Fannie Mae and Freddie Mac on Thursday.

Receivership refers to the ability of a regulator to settle the affairs of a business or to manage a corporation during reorganization.

Lawmakers and the Bush administration have their sights set on both Fannie and Freddie as the legislative year begins.

For this complete story, please visit Fannie, Freddie Regulator Seeks Power to Close Companies.

Fannie, Freddie Regulator Seeks Power to Close Companies

Unknown Author

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