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Article: More Oversight of Fannie Mae, Freddie Mac
- Article from:
- AP Online
- Article date:
- April 5, 2005
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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MARCY GORDON, AP Business Writer
AP Online
04-05-2005
Dateline: WASHINGTON
A legislative push began Tuesday to tighten government oversight of Fannie Mae and Freddie Mac and possibly limit their size, following accounting scandals at both government-sponsored mortgage giants.
Prospects for passage of a bill appear stronger now after years of failed efforts by Republican critics of the two politically influential companies, which have vigorously lobbied against new restraints. The Bush administration wants to see legislation enacted, though it has not endorsed a specific plan.
Fannie Mae and Freddie Mac, the No. 1 and No. 2 U.S. buyers and guarantors of home mortgages, were created by Congress ...