Issa Seeks Data on Whether GSEs Still Buy ‘Risky’ Mortgages
This article is for subscribers only.
U.S. Representative Darrell Issa, chairman of the House Committee on Oversight and Government Reform, asked the agency overseeing Fannie Mae and Freddie Mac for documents to determine whether they’ve resumed buying “risky, low-quality mortgages.”
In a March 11 letter to Edward DeMarco, acting director of the Federal Housing Finance Agency, Issa questioned whether Citigroup Inc. and other lenders have been selling “loans that fail to meet sensible mortgage underwriting standards and pose an unacceptable risk to both taxpayers and the housing market.” Issa asked for an answer by March 28.