WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today:
“The stability of Fannie Mae and Freddie Mac is crucial to America's mortgage market. I applaud Secretary Paulson for acting to ensure that the Treasury Department is prepared to provide the Government Sponsored Enterprises with additional capital, if necessary. As Majority Leader, I will work to ensure timely consideration of Secretary Paulson’s proposals.
“While I do not expect that it will be necessary for the GSEs to draw on additional liquidity or capital provided by the Treasury Department or the Federal Reserve, their demonstrated willingness to act should help to build confidence. As the House and Senate finalize housing legislation aimed at protecting communities and helping millions of Americans keep their homes, I look forward to working with the Administration and the Financial Services Committee to ensure that the Treasury Department has all the tools it needs to assist Fannie Mae and Freddie Mac if necessary.”