Bush Selects New Fannie Mae/Freddie Mac Regulator
On April 27, 2006, President Bush named James B. Lockhart, III to be Director of the Office of Federal Housing Enterprise Oversight (OFHEO). Senate confirmation of Lockhart is likely given his finance and risk management experience most recently as Deputy Social Security Commissioner. Lockhart begins working immediately as Acting Director to oversee finalizing a report on Fannie Mae's accounting scandal. Legislation intended to revamp regulatory oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks is stalled in Congress.
CONTACTS: Jeff Lischer 202-383-1117
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