As the GSEs’ capital cushion continues to dwindle, Senate Banking Committee Chair Richard Shelby, R-AL, voiced concerns about oversight of the Federal Housing Finance Agency, the GSEs’ regulator. Shelby fired off letters on the same day to both the Congressional Budget Office and Government Accountability Office asking them to consider a number of questions pertaining to the FHFA and the structure of the future of the housing finance market. In the letters, addressed to the GAO’s Comptroller Gene Dodaro and Keith Hall, CBO’s director, Shelby said FHFA’s goals have changed from contracting the GSEs’ presence in the marketplace to reducing taxpayer risk through the increased role of private capital in the mortgage market.