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Volume 14 - Number 9

May 2, 2014

Freddie CEO: GSE Reform Bill Must Work to Avoid Employee Exodus

The Senateís GSE reform proposal in its current form would create an extremely high risk for Freddie Macís core policy functions during the billís proposed five-year wind down of the company, Freddieís chief executive warned. In a confidential memo to Federal Housing Finance Agency Director Mel Watt that was leaked to the media, Freddie CEO Donald Layton said that the housing finance reform legislation by Sens. Tim Johnson, D-SD, and Mike Crapo, R-ID, fails to state clearly that the GSEsí core policy function must be maintained and such an omission would create potentially crippling uncertainty among staffers during the transition.

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