WASHINGTON – The Bush administration is still committed to reforming oversight of mortgage finance enterprises Fannie Mae, Freddie Mac and the regional Federal Home Loan Banks, a senior administration official said on Tuesday.
“It remains a priority,” Treasury Undersecretary Brian Roseboro said in remarks prepared for a Federal Home Loan Bank stockholders’ forum.
Roseboro also said the administration welcomes the idea of greater competition from Federal Home Loan Banks with Fannie Mae and Freddie Mac in buying mortgages and holding them or selling them in capital markets. The 12 FHLBs are cooperatively owned by banks and advance funds to members for mortgage lending.
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