Hill Statement on Release of New FHFA Proposal for Fannie Mae, Freddie Mac
Little Rock, Ark. — Today, Rep. French Hill (AR-02), Ranking Member of the House Financial Services Subcommittee on National Security, International Development, and Monetary Policy, released the following statement after the Federal Housing Finance Agency (FHFA) announced a new proposal setting capital requirements for the government-sponsored enterprises, (GSEs) Fannie Mae and Freddie Mac:
"I'm pleased that the administration, with leadership from FHFA Director Mark Calabria, continues to push for meaningful change on long-overdue housing finance reforms. However, I’m concerned the 4% capital requirement does not go far enough. As a former community banker, I understand the need for financial institutions to be properly capitalized. Congress must continue to push for sufficient capital requirements and substantive housing reforms to ensure we are protecting taxpayers, promoting a competitive housing market, and preventing another GSE bailout."