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Statement of FHFA Director James B. Lockhart at News Conference Announcing Conservatorship of Fannie Mae and Freddie Mac
PageContent Good Morning Fannie Mae and Freddie Mac share the critical mission of providing stability and liquidity to the housing market. Between them, the Enterprises have $5.4 trillion of guaranteed mortgage-backed securities (MBS) and debt outstanding, which is equal to the publicly held debt of...
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Statement of Director James B. Lockhart, III on the Creation of FHFA
"Today President Bush signed the 'Housing and Economic Recovery Act of 2008.' I thank President Bush and Secretary Paulson for their leadership in making government-sponsored enterprise (GSE) regulatory reform a reality. The Act creates a world-class, empowered regulator, the Federal Housing Finance...
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Statement of OFHEO Director James B. Lockhart in Support of Secretary Paulson, Administration, and the Federal Reserve in Their Efforts to Stabilize the Housing Financial System
“I support Secretary Paulson, the Administration, and the Federal Reserve in their efforts to stabilize the housing finance system. OFHEO will continue to work with the Treasury, the Federal Reserve, the Congress, and the Enterprises in addressing the current situation and to assure that the...
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Statement of James B. Lockhart Director, Office of Federal Housing Enterprise Oversight News Conference
Thank you for coming. I would like to welcome Dan Mudd and Dick Syron, the Chief Executive Officers of Fannie Mae and Freddie Mac, respectively. Over the last year the two Enterprises have played a critical and beneficial role in the mortgage markets. I am pleased to join the two CEOs in...
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Statement of James B. Lockhart on the Liquidity of the Mortgage Market and the Role of Fannie Mae and Freddie Mac
Fannie Mae and Freddie Mac are important players in the mortgage market as they hold or guarantee 40 percent of all mortgages in the U.S. and about two-thirds of the conventional, conforming (non-jumbo) loans. This year their share of the mortgage market has grown rapidly. For this reason their...
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Statement on Issuance of Letters by Fannie Mae and Freddie Mac Regarding Nontraditional and Subprime Mortgage Products
Fannie Mae and Freddie Mac today issued letters to their lender customers setting forth a program for assuring the Enterprises purchase mortgages made in conformance with the Interagency Guidance on Nontraditional Mortgage Product Risks. This guidance was promulgated by federal depository...