U.S. House's Hoyer targets timely action on GSE plan

WASHINGTON (Reuters) - The Democratic leader of the U.S. House of Representatives on Monday said he does not expect housing finance giants Fannie Mae and Freddie Mac will need to draw on additional liquidity or capital from the Treasury Department or the Federal Reserve.

But Maryland Rep. Steny Hoyer said he will work for "timely consideration" of a Treasury Department plan that would make such assistance available, if necessary.

"The stability of Fannie Mae and Freddie Mac is crucial to America's mortgage market," Hoyer said in a statement.

(Reporting by Kevin Drawbaugh; Editing by James Dalgleish)