Government News

Washington, DC – House Financial Services Committee Chairman Barney Frank held a hearing to examine the impact of the conforming loan limit increase on homebuyers and the housing market. This hearing focused on the development of the market for “expanded conforming” mortgages created under the Recovery Rebate and Economic Stimulus for the American People Act, which became law in February of this year. The Committee will also examine what steps different market participants have taken to implement the new loan products and what obstacles, if any, stand in the way of its broader acceptance.

Witness List & Prepared Testimony:

• Mr. Thomas A. Lund, Executive Vice President, Single-Family Mortgage Business, Fannie Mae
• Ms. Patricia R. Cook, Executive Vice President and Chief Business Officer, Freddie Mac 
• Mr. Thomas Hamilton, Managing Director, Barclays Capital, on behalf of the Securities Industry and Financial Markets Association (SIFMA) 
• Mr. Vince Malta, Malta & Co., Inc., on behalf of the National Association of Realtors 
• Ms. Heather Peters, Deputy Secretary for Business Regulation and Housing, State of California 
• Dr. Emile J. Brinkmann, Vice President, Research and Economics, Mortgage Bankers Association