House Subcommittees to Conduct Oversight on FHFB and GSEs Regulators

July 12, 2004

The House Financial Services Subcommittees on Oversight and Investigations and Capital Markets, Insurance, and Government Sponsored Enterprises, chaired by Rep. Sue Kelly (NY) and Rep. Richard H. Baker (LA) respectively, will conduct an oversight hearing on the Office of Federal Housing Enterprise Oversight (OFHEO) and the Federal Housing Finance Board (FHFB).

The hearing, scheduled for 2 p.m. on July 13 in room 2128 of the Rayburn Building, will feature the testimony of Armando Falcon, Director of OFHEO and Alicia Castaneda, Chairman of the FHFB. Director Falcon was confirmed on September 29, 1999 and Chairman Castaneda was designated on April 14, 2004.

Members are expected to hear testimony about what OFHEO and the FHFB are doing to improve regulation of the housing Government Sponsored Enterprises, Fannie Mae and Freddie Mac, and the Federal Home Loan Banks.

Fannie Mae, the Federal Home Loan Bank System, and Freddie Mac rank as the second, third, and fifth largest financial institutions in the United States respectively, and they play a central role in providing liquidity to the secondary mortgage market.

Their size and influence on the national economy require that they be supervised by regulators that have ample resources, authority, financing, and staff to adequately monitor the activities of these large and complex institutions.

Scheduled to testify:

  • Armando Falcon, Director, Office of Federal Housing Enterprise Oversight
  • Alicia Castaneda, Chairman, Federal Housing Finance Board


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.