FHFA Director Watt goes before House committee Tuesday

first_imgby: Trey GarrisonFederal Housing Finance Agency Director Mel Watt will appear Tuesday morning before the House Financial Services Committee at a hearing entitled “Sustainable Housing Finance.”The purpose of this hearing is to receive an update from the FHFA on measures FHFA has taken as conservator of Fannie Mae and Freddie Mac, the FHFA’s current Strategic Plan for the GSEs, and the current financial condition of Fannie Mae, Freddie Mac and and the Federal Home Loan Banks.Watt will likely face a tough grilling from the new Congress on whether adequate steps are being taken to encourage additional private capital in this market and what additional actions FHFA has taken as regulator of Fannie Mae, Freddie Mac and the FHLBs.He will also likely face questions about the wisdom of President Obama’s move to cut the FHA mortgage insurance premiums.House Financial Services Committee Chairman Jeb Hensarling, R-Texas, said he thinks it is irresponsible to lower FHA mortgage insurance premiums. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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