Mortgage

Alabama Senator Shelby calls for Fannie, Freddie investigation

Asks government agencies to investigate

Senate Banking Committee Chairman Richard Shelby called on the Government Accountability Office and the Congressional Budget office to investigate the practices of the Federal Housing Agency as well as the government-sponsored enterprises it is over, according to an article by Ryan Rainey for Morning Consult.

Shelby issued a letter to U.S. Comptroller General Gene Dodaro, leader of the GAO, asking for specific assessment of how the FHFA’s practices influence markets, according to the article. He also requested a study of possible outcomes from aspects of housing finance reform.

From the article:

“Congress has a responsibility to conduct proper oversight over both the FHFA and the GSEs,” the Alabama Republican said in a statement. “It is my hope that GAO and CBO will provide the Committee with meaningful data regarding the market impact of FHFA’s decisions to ensure that Congress takes steps to protect American taxpayers from risk.”

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