Industry News

Freddie Mac supports strong regulator

Bring it on, mortgage loan giant says

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

Freddie Mac supports the idea of a strong regulator for itself, Timothy Bitsberger, treasurer for the second-largest U.S. home funding company, told a conference in London Wednesday, media accounts said. Members of Congress are debating whether to create a more powerful regulator of Freddie Mac and its sibling Fannie Mae. The two mortgage giants hold a combined $1.4 trillion in their mortgage portfolios, and U.S. legislators, as well as the Bush administration, are concerned about potential problems. "It benefits us to have a strong regulator behind us," Bitsberger said, according to Reuters. Bitsberger said the difference between the portfolio of a bank, a hedge fund and Freddie Mac is that his company discloses its risk management measures every month, Reuters reported. "How can a large portfolio that is being managed properly contain more risk? I think a smaller portfolio that is not being managed properly can have more risk," Bitsberger reportedly said. Freddie Mac had a reta...