House of Representatives GSE regulator. Rep. Richard Baker, R-LA, earlier this month introduced the “Federal Housing Finance Reform Act of 2005,” which would establish an independent regulator for the government-sponsored enterprises. Under the bill, the newly created Federal Housing Finance Agency would be given powers and authority as broad as other financial regulators to oversee the safety and soundness and the housing mission of Fannie Mae, Freddie Mac, and the Federal Home Loan Bank…