Regulator directs Fannie Mae, Freddie Mac to merge some operations
- Staff Washington Business Journal
The Federal Housing Finance Agency[1], the regulator overseeing D.C.-based Fannie Mae[2] and McLean-based Freddie Mac[3], on Monday said the agency would begin forming a company that would consolidate some of the "back-office" functions currently replicated individually by each firm, The Wall Street Journal reported[4].
The company would have its own chief executive and board and for now would be jointly owned by Fannie and Freddie, Edward DeMarco[5], acting director of the FHFA, said in a speech Monday before the National Association of Business Economics in the District.
References
- ^ Federal Housing Finance Agency (www.bizjournals.com)
- ^ Fannie Mae (www.bizjournals.com)
- ^ Freddie Mac (www.bizjournals.com)
- ^ The Wall Street Journal reported (online.wsj.com)
- ^ Edward DeMarco (feeds.bizjournals.com)