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Financial Services to study future of housing finance
WASHINGTON (2/5/10)—The House Financial Services Committee Thursday announced new upcoming hearings including one that will scrutinized the future of housing finance on March 2. The hearing will begin a process, according to the committee announcement, that will focus on all private and public entities that support the mortgage market, a list that includes the Federal Housing Administration, Ginnie Mae, Fannie Mae, Freddie Mac, the Federal Home Loan Banks, and private lenders and securitizers. Saying it is a first step in a legislative process to determine the future of housing finance and the federal government’s role in responsible homeownership and the supply of affordable rental housing, Committee. Chairman Barney Frank (D-Mass,) noted the panel has invited Treasury Secretary Timothy Geithner and Housing and Urban Development Secretary Shaun Donovan to testify on the administration’s perspective. Although a witness list is not expected to be made public until closer to the hearing date, the committee notice said representatives of the advocacy community, academia, and industry are being asked to present their ideas on the future of housing finance. Also newly announced, the committee has scheduled a Feb. 10 hearing on “Unwinding Emergency Federal Reserve Liquidity Programs and Implications for Economic Recovery.” Expected to testify are Federal Reserve representatives, academics, economists and “other experts on the policy implications of unwinding emergency Federal Reserve liquidity facilities and the potential impact on inflation, job growth and overall economic recovery.” And on Feb. 11, the House Small Business Committee will conduct a joint hearing with the Financial Services Committee to examine the condition of small business and commercial real estate lending in local markets.


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