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Article: NAR Opposes Federal Reserve Regulation of Fannie Mae and Freddie Mac.
- Article from:
- PR Newswire
- Article date:
- July 11, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON, July 11 /PRNewswire/ --
The president-elect of the National Association of Realtors(R) today told a House subcommittee that shifting the most of the regulation of Fannie Mae and Freddie Mac from the Department of Housing and Urban Development to the Federal Reserve Board would effectively hamstring the government-sponsored enterprises (GSEs).
Testifying before the House Subcommittee on Capital Markets, Securities, and Government-Sponsored Enterprises, Martin Edwards, Jr. said that the legislation would reduce the GSEs' effectiveness as mortgage investors, make them vulnerable to attempts by the banks to control financial markets and limit ...