Washington Post (10/01/08) P. D1; Goldfarb, Zachary A.
Fannie Mae and Freddie Mac have let go two dozen people who worked in their lobbying operations. The U.S. government had announced that it would discontinue their lobbying activities while the companies are under federal control; and James Lockhart III, director of the Federal Housing Finance Agency, will now serve as the main conduit to Congress. "The opponents will have a much louder voice because Fannie and Freddie won't be there to fight back," said William Maloni, former chief lobbyist for Fannie Mae. For instance, Mortgage Bankers Association COO John Courson has already said in a letter to Lockhart and Treasury Secretary Henry Paulson that the fees charged for the companies to guarantee mortgage loans should be lowered, among other recommendations.
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