FHFA Director Prods Congress On Fannie, Freddie Policy

Law360, New York (March 19, 2013, 2:30 PM EDT) -- Embattled Federal Housing Finance Agency Director Edward DeMarco on Tuesday pushed lawmakers to move forward with a strategy for reshaping the housing finance system, including replacing Fannie Mae and Freddie Mac.

DeMarco, the conservator for the two failed mortgage giants, told the House Financial Services Committee that although he is moving ahead with plans to decrease Fannie and Freddie's role in the housing finance market, Congress and the Obama administration need to create a clear federal policy for the market in order for real change to...
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