WASHINGTON – Senate Banking Committee Chairman Tim Johnson (D-SD) announced the Committee will hold an oversight hearing next Tuesday at 10:00 A.M. of the Federal Housing Finance Agency (FHFA). The Committee will hear from FHFA Acting Director Edward DeMarco.
Fannie Mae and Freddie Mac own or guarantee more than $5 trillion in mortgages, and together with the Federal Housing Administration they guarantee roughly 90% of all new mortgages. Their critical role in the housing market and the broader American economy makes it vital for Fannie and Freddie to have effective oversight. FHFA was created by Congress in 2008 to provide strong regulatory oversight of Fannie and Freddie and the Federal Home Loan Banks, and to help stabilize the nation’s housing market.
As Acting Director of FHFA, Edward DeMarco is responsible for approving and overseeing day-to-day operations at Fannie Mae and Freddie Mac, as well as regulatory supervision of the Federal Home Loan Banks.
Hearings are webcast live at: http://banking.senate.gov.
Testimony and archived videos will be posted at: http://banking.senate.gov/public/index.cfm?FuseAction=Hearings.Home
FULL COMMITTEE HEARING: Oversight of the Federal Housing Finance Agency
Mr. Edward DeMarco
Acting Director, Federal Housing Finance Agency.
DATE: Tuesday, November 15, 2011
TIME: 10:00 A.M.
LOCATION: Room SD-538, Dirksen Senate Office Building