WASHINGTON
| Fri Sep 10,
2010 12:09pm EDT
WASHINGTON (Reuters) - Michael
Barr, assistant treasury secretary for
financial institutions, and Edward DeMarco,
acting director of the Federal Housing
Finance Agency will testify on Capitol
Hill next week on the future of Fannie Mae
(FNMA.OB)
and Freddie Mac (FMCC.OB).
Barr and DeMarco will appear before the
House Financial Services Subcommittee on
Capital Markets on September 15.
Panel Chairman Paul Kanjorski said they
will "examine the primary causes of the
financial losses for Fannie Mae and
Freddie Mac, as well as the progress made
during the last two years in stabilizing
our mortgage markets and ensuring the
continued availability of reasonably
priced loans."
"The hearing will also explore the
steps being taken to limit future red
ink," the Pennsylvania Democrat said. The
two firms have tapped about $150 billion
from the Treasury since they were taken
over by the government two years ago.
(Reporting by
Corbett B. Daly; Editing by Andrew
Hay)
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