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Letter to the Honorable Richard C. Shelby 1 (April 2004)

handle is hein.congrec/cbo9067 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Douglas Holtz-Eakin, Director U.S. Congress Washington, DC 20515 April 8, 2004 Honorable Richard C. Shelby Chairman Committee on Banking, Housing, and Urban Affairs United States Senate Washington, D.C. 20510 Dear Mr. Chairman: I am pleased to send you the attachment, Updated Estimates of the Subsidies to the Housing GSEs. The primary authors are Deborah Lucas and David Torregrosa. The estimates of the subsidies received by the government-sponsored enterprises and passed through to borrowers in the mortgage market are based on CBO's May 2001 study Federal Subsidies and the Housing GSEs. In keeping with CBO's mandate to provide objective and impartial analysis, the attached analysis includes no recommendations. If you have any questions concerning the analysis, please let me know. Your staff may also contact David Torregrosa directly at (202) 225-6926. Sincerely, Douglas Holtz-Eakin Attachment cc: Honorable Paul S. Sarbanes Ranking Member Honorable Michael G. Oxley Chairman, House Committee on Financial Services Honorable Barney Frank Ranking Member, House Committee on Financial Services

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