WASHINGTON - Rep. Richard Baker, chairman of the House Banking capital markets subcommittee, is expected to hold a meeting next Tuesday on his bill to consolidate the oversight of government-sponsored enterprises, not this Wednesday as originally scheduled.
The delay is to allow for further review of comments on the Housing Finance Regulatory Improvement Act, Rep. Baker's bill to put oversight of the government-sponsored enterprises in the hands of a new, more powerful agency. This would combine oversight that now is spread among the Federal Housing Finance Board, the Department of Housing and Urban Development, and the Office of Federal Housing Enterprise Oversight.
The bill also would repeal the $2.25 billion Treasury Department lines of credit that Fannie Mae and Freddie Mac each has and the $4 billion line for the Federal Home Loan banks.
