After four hearings on Rep. Richard Baker's bill to restructure oversight of the government-sponsored enterprises Fannie Mae and Freddie Mac, Rep. Marge Roukema said it is time to let a consensus develop.

"This legislation requires … more careful thought and analysis before we rush to markup," the New Jersey Republican said in an interview last week. "We need much more understanding and specificity about what the new regulatory structure would do."

Though Fannie's and Freddie's growth ambitions may push the legal limits on their powers, she said, Congress must proceed gingerly.

"These are not only complex matters, but their activities are central to the wonderful home mortgage market we have here," she said. "We do not want to undermine that. At the same time we don't want to destroy the private mortgage market either."

Rep. Baker - a Louisiana Republican considered Rep. Roukema's leading rival to become House Banking chairman next year if Republicans retain control of the House - said he plans to hold a "GSE summit" in September so all sides can discuss the issue.


The Independent Community Bankers of America has hired Doug Compton as chief information officer, a new post designed to direct the trade group's technology and information policy. Mr. Compton had held the same post at the Mortgage Bankers Association of America for eight years.


The Exchequer Club elected officers last week: Steve Verdier of America's Community Bankers, chancellor; Gary Hughes of the American Council of Life Insurers, vice chancellor; Marc Lackritz of the Securities Industry Association, recorder; and Joe Belew of the Consumer Bankers Association, bursar.The club, founded in 1960 for folks interested in financial services policy, has roughly 100 members and is best known for its frequent lunches featuring newsmakers. Beth Climo of the American Bankers Association is the former chancellor.


Banking lawyer and former Capitol Hill staff member Kellie Larkin has temporarily left Washington to become campaign manager for Mike Kelleher, a Democrat running for the House from the 15th Congressional District in Illinois. Ms. Larkin, 29, spent four years as legislative assistant to former Sen. Carol Moseley-Braun, D-Ill., handling banking, judiciary, and other issues. After her boss lost her 1998 reelection bid, Ms. Larkin joined the Katten Muchin Zavis law firm in Washington where she focused on bank regulatory matters and lobbied on bankruptcy reform.

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