U.S. Lawmaker: Affordable Housing to Stay in GSE Bill

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00012507-us-lawmaker-affordable-housing-to-stay-in/

U.S. Representative Barney Frank (D-MA) said yesterday at an America’s Community Bankers event that a recent Senate bid to cut Fannie Mae and Freddie Mac portfolios, “is not going to work,” according to a story by Reuters.

Congress is currently considering legislation that would increase oversight of both government-sponsored lending agencies. Some lawmakers see the legislation as detrimental to the mortgage market because the new measures would require home loan portfolio cuts from Fannie and Freddie.

Frank is the ranking Democrat on the House Financial Services Committee.

For this entire story, please visit US Democrat:Affordable housing to stay in GSE bill.