American Securitization Forum Speech, Las Vegas, Nevada, February 9, 2009, James B. Lockhart III, Director, Federal Housing Finance Agency
“The biggest challenge we face is the stabilization of the housing market. Declining prices will demand continued concentrated action by the public sector, including the new Obama Administration and its Treasury Department, the Federal Reserve, the SEC, FHFA, bank regulators, credit union regulators, HUD, the GSEs, as well as private market playersyour members. FHFA takes responsibility to ensure that Fannie Mae, Freddie Mac, and the Federal Home Loan Banks are active in efforts to stabilize house prices, address affordability issues, and respond quickly to borrowers who have defaulted or who are at risk of default.”
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