Shelby Predicts GSE Reform to Reach Senate Floor Soon; Lockhart Says OFHEO Needs More Legislative Authority
Sen. Richard Shelby, R-AL, the man currently directing traffic in the drive to reform the oversight of mortgage giants Fannie Mae and Freddie Mac, expects long-stalled GSE reform legislation will be brought to the floor of the full Senate by the end of summer. Speaking to reporters immediately after a confirmation hearing on the nomination of James Lockhart as permanent director of the Office of Federal Housing Enterprise Oversight, Shelby said he and his colleagues…