They can't refute this,
"But in the Housing and Economic Recovery Act, the House and Senate
authorized the creation of the FHFA and provided clear statutory directions
on the role that the FHFA will play in the interim to help get from here to
there. That statutory role directs the FHFA and its Director to carefully
and prudently "oversee the prudential operations of each regulated entity"
through the transition in a way that protects the interests of the taxpayers
and to make sure that each of these entities continues to "foster liquid,
efficient, competitive and resilient national finance markets" in the
meantime, until decisions are made about how housing finance will be done in
the future. Acting Director DeMarco and the FHFA have followed these
mandates effectively and I applaud their work.
I want to be clear about my role and the role of the FHFA under my
leadership should I be confirmed. The Housing & Economic Recovery Act
clearly defines the role of the FHFA and the Director. And, if confirmed,
you can be assured that I will rigorously follow the statute in an open and
transparent manner working with all stakeholders. You can also be assured
that we'll 2 continue to build a solid bridge from where we are now to
whatever you decide the future housing finance system will be, we'll
continue to test risk-sharing models that move housing finance aggressively
to the private sector and we'll cooperate fully and be a resource to members
of the Senate and the House as you decide the future of housing finance."
