Officials at the Federal Housing Finance Agency, the regulator of Fannie Mae and Freddie Mac, are voicing concerns about whether the government should continue to play a significant part in housing. FHFA acting Director Edward DeMarco said he is unsure about the White House's strategy for overhauling housing finance. "Recently there has been a growing call for some form of explicit federal insurance to be a part of the housing finance system of the future," DeMarco said in prepared testimony for the House Financial Services Committee. "The potential costs and risks associated with such a framework have not yet been fully explored."

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