The top regulator overseeing Fannie Mae and Freddie Mac is considering new capital standards for the mortgage companies newly backed by a support package from the U.S. government. The regulatory agency preceding him needed nearly nine years to set the financial cushions that Fannie Mae and Freddie Mac must hold to protect against possible losses. "We won't take anywhere near that time," said James Lockhart, chief of the new Federal Housing Finance Agency. "We will work on it. I can't give you any deadlines."