James B. Lockhart, Director of the Federal Housing Finance Agency spoke before the National Association of Real Estate Editors on “The Roles of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks in Stabilizing the Mortgage Market.”

He discussed the current state of the housing market, what the FHFA and Fannie Mae and Freddie Mac are doing. Lockhart spoke about foreclosures, refinancing and loan modification. Lockhart said the FHFA is considering raising the refinance rate from 105 percent of the current market value to 125 percent.

Read the full transcript of the speech and see the powerpoint slides that accompanied James Lockhart’s speech to the National Association of Real Estate Editors.