Fannie Mae (FNM) Daniel Hudd Issues Statement About Legislation Passed Today
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The landmark housing legislation passed by the House today creates a strong regulator for the GSEs. Combined with the temporary ability of the U.S. Treasury, by mutual agreement, to invest in GSE securities, the legislation should reinforce confidence that the GSEs will be able to serve the housing finance system now and in the future. We look forward to Senate action on the legislation and President Bush's signature. We also look forward to working with the newly created Federal Housing Finance Agency to implement the legislation in a manner that both ensures the GSEs' safety and soundness and allows them to continue to attract the private capital that is the basis of the U.S. housing market.
Fannie Mae (NYSE: FNM) is a shareholder-owned company with a public mission. We exist to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to ensure that mortgage bankers and other lenders have enough funds to lend to home buyers at low rates. Our job is to help those who house America.
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