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Lawmakers push for more urgency from FHFA

(9/16/2011) The government agency that oversees both Fannie Mae and Freddie Mac is now being accused by federal lawmakers on both sides of the aisle of not picking up the slack when it comes to addressing the foreclosure crisis.

More than two dozen U.S. Representatives, mostly Democrats, recently sent a letter to the acting director of the Federal Housing Finance Agency, after a particularly unproductive meeting with lower-level staff, saying the agency isn't doing enough to help clear up the current national foreclosure crisis, according to a report from Bloomberg News. One Republican who did sign the letter was Darrell Issa of California, who leads the House Oversight Committee.

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"We expressed our profound frustration with the apparent lack of urgency shown by your agency and by agencies within the Administration in addressing the foreclosure crisis," the lawmakers said in their letter, according to the news agency.

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