Lockhart to oversee new Fannie, Freddie regulator

James B. Lockhart III will head a new government agency that will oversee Fannie Mae and Freddie Mac as part of Congress' rescue plan for the mortgage giants. The Federal Housing Finance Agency will replace the Office of Federal Housing Enterprise Oversight if the bill passes, as expected. "I want to go into this with a fresh mind," Lockhart said of his expanded role.

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