John & John Make Way For Freddie And Fannie
Outside of Sen. John Kerry and and Sen. John Edwards, among the most ubiquitous names at the Democratic National Convention last week were those of Fannie Mae and Freddie Mac. The names of each could be seen among the sponsors of some of the most popular events, as well as the convention itself, for which each is reported to have donated as much as $350,000 to the host committee.
Both companies, which are planning similar sponsorship events for next month's Republican National Convention in New York, are stepping up their public relations and lobbying efforts while trying to fend off major legislation that would tighten regulatory oversight over the two secondary mortgage market giants. Dwight Robinson, senior vice president for Fannie Mae, told The Credit Union Journal during a reception sponsored by Fannie, Freddie and several housing trade groups, that Fannie was there to help insure that housing issues remain front and center for the Democrats.