Bloomberg News WASHINGTON - Fannie Mae and Freddie Mac's regulator has backed away from accusations that the companies lobbied a House panel last week to cut the agency's budget request.

Last Tuesday a House Appropriations subcommittee cut the budget request of the Office of Federal Housing Enterprise Oversight 17% to $22 million. Armando Falcon Jr., the office's director, blamed the cut on "political maneuverings" of the mortgage giants. Elizabeth Morra, spokeswoman for the House Appropriations Committee, called Mr. Falcon's allegations "outrageous."

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