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130 7540 1539e Form

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the committee will come to order without objection the chair is authorized to declare a recess of the committee at any time and all members will have five legislative days within which to submit extraneous materials to the chair for inclusion in the record this hearing is entitled sustainable housing finance an update from the director of the Federal Housing Finance Agency I now recognize myself for three and a half minutes to give an opening statement today we welcome back our former colleague and committee member Mel watt the director of the Federal Housing Finance Agency director what served with this with distinction on this committee for many many years and was respected on both sides of the aisle sir it is good to have you back in our hearing room as we know FHFA oversees the two enormous government-sponsored mortgage buying corporations Fannie Mae and Freddie Mac as well as the eleven of Federal Home Loan Banks as all Americans painfully remember in 2008 taxpayers were forced to

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