The House Committee on Financial Services will hold a hearing on January 27 entitled “Sustainable Housing Finance: An Update from the Director of the Federal Housing Finance Agency.” The hearing’s sole witness will be Federal Housing Finance Agency (FHFA) Director Mel Watt.
According to a Committee memorandum, the purpose of the hearing is to receive an update from FHFA on measures FHFA has taken as conservator of Fannie Mae and Freddie Mac; FHFA’s current Strategic Plan for Fannie Mae and Freddie Mac; the current financial condition of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks (FHLBs); the current state of private sector participation in the housing finance market; whether adequate steps are being taken to encourage additional private capital in this market; and additional actions FHFA has taken as regulator of Fannie Mae, Freddie Mac, and the FHLBs.
Director Watt’s decision to lift the suspension on Fannie Mae’s and Freddie Mac’s obligation to fund the National Housing Trust Fund (NHTF) and the Capital Magnet Fund (CMF) (see Memo, 12/15/2014) is expected to be a topic at the hearing. When Mr. Watt made his announcement, Financial Services Committee Chair Jeb Hensarling (R-TX) issued a press statement expressing objections to Mr. Watt’s action and saying he would call Mr. Watt before the committee early in the new Congress.
The hearing on January 27 will be at 10:00am ET in room 2141 of the Rayburn House Office Building.
The Committee memorandum on the January 27 hearing is at http://financialservices.house.gov/uploadedfiles/012715_fc_memo.pdf
Chair Hensarling’s December 11 media release is at http://financialservices.house.gov/news/documentsingle.aspx?DocumentID=398566