House leaders are stripping out some the traditional political structures in the House Banking Committee and Fannie Mae is pulling out all stops to ensure that lawmakers keep it under that umbrella and far away from the soon-to-be-formed empowerment committee. Mortgage Marketplace has learned that Fannie has recruited some of the most well-respected, influential hired guns in Washington to ensure its government-sponsored enterprise interests stay within the jurisdiction the House Banking Committee including former Bush administration Chief of Staff Ken Duberstein and his lobbying firm, the Duberstein Group.
Larry OBrien and Nick Calio, who both handled government affairs with the Bush administration, have also taken part in Fannies lobbying full-court press. They have also reportedly been joined by Mike Burman, who worked alongside Fannie Chairman Jim Johnson on Vice President Walter Mondales staff during the Carter years. Fannie officials were unavailable to confirm that the Duberstein Group is handling its lobbying efforts. Freddie Macs lobbying team, however, remains something of a mystery. Industry sources said Freddies concerns are identical to Fannies and believe the McLean, Va.- based GSE is lobbying equally hard.