By Phil Mattingly and Lorraine Woellert
Bloomberg News
U.S. House Republicans proposed legislation that would begin reducing the influence of government-run mortgage companies Fannie Mae and Freddie Mac.
The measures would wind down the firms in phases as policy makers work on a broader overhaul of the mortgage market. The proposed legislation would cut the value of the companies’… Read more »
Financial Services Committee Chairman Spencer Bachus issued the following statement today regarding reports that financial regulators have floated a so-called “cash for keys” program that will reward some borrowers who default on their mortgages with a $20,000 government check. The “cash for keys” program would reportedly be paid for, in part, by contributions from Fannie Mae and Freddie… Read more »
Capital Markets Subcommittee Chairman Scott Garrett announced the Subcommittee will hold a legislative hearing on proposals that promote job creation on Wednesday, March 16 at 2 p.m. in room 2128 Rayburn.
Subcommittee Chairman Garrett said, “Far too much of the Dodd-Frank Act was passed for political purposes, without giving enough thought to what the consequences would be… Read more »
Capital Markets Subcommittee Chairman Scott Garrett announced the Subcommittee will convene a hearing on covered bonds this Friday, March 11 at 10 a.m. in room 2220 Rayburn.
Subcommittee Chairman Garrett said, “Each year, the U.S. economy misses out on billions of dollars in capital formation to foreign competitors because of our lack of a covered bonds statutory framework. The… Read more »
Capital Markets Subcommittee Chairman Scott Garrett announced a Subcommittee hearing to conduct oversight of the Securities and Exchange Commission (SEC) and review the agency’s budget request for Fiscal Year 2012. The hearing will take place on Thursday, March 10 at 10 am in room 2128 Rayburn.
Subcommittee Chairman Garrett said, “It will be instructive for members of the… Read more »
