Fannie-Freddie Regulator Now Says He Welcomes Lawmaker Input on Revamp
- FHFA’s Otting tells Waters, Brown he wants their ‘perspective’
- Otting letter walks back comments about circumventing Congress
Photographer: Jacob Kepler/Bloomberg
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In an apparent about face, Fannie Mae and Freddie Mac’s regulator told congressional Democrats Wednesday that he welcomes their input on coming up with a plan to free the mortgage giants from federal control.
“As we begin the journey of evaluating the enterprises and developing a framework for ending conservatorship, I would welcome your insight and perspective," Joseph Otting, the acting director of the Federal Housing Finance Agency. wrote in a letter to House Financial Services Committee Chairwoman Maxine Waters and Senator Sherrod Brown, the top Democrat on the Senate Banking Committee.