WASHINGTON — Fannie Mae and Freddie Mac got a double dose of good news Tuesday as their chief critic in Congress declined during a public hearing to address competitors’ allegations of unfair business practices, and a top Bush administration official appeared to dismiss the claims as a distraction.

Rep. Richard H. Baker, chairman of the House Financial Services subcommittee on capital markets, made clear in his opening statement that he intended to limit discussion to one topic: the implementation of a voluntary agreement that the companies reached with the Louisiana Republican last year to toughen risk management and increase public disclosure.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.