1. Fannie, Freddie regulator to testify as GOP eyes reform

    Fannie, Freddie regulator to testify as GOP eyes reform

    The government regulator responsible for overseeing Fannie Mae and Freddie Mac will testify before the Senate Banking Committee next week as Republicans prepare to attempt the massive undertaking of overhauling the U.S. housing finance market. The committee announced Wednesday evening that Federal Housing Finance Agency Director Mel Watt would appear before the panel May 11, for a hearing named "the Status of the Housing Finance System After Nine Years of Conservatorship."

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