White House focusing on legislation for Fannie and Freddie

WASHINGTON (Reuters) - The White House remains focused on passing legislation on Fannie Mae and Freddie Mac that will give confidence to the financial markets, a White House spokesman said on Thursday, amid ongoing concerns about the mortgage finance heavyweights' capital levels.

"What we're focused on is getting legislation done for these important institutions, which will give confidence to markets so they can better perform their role," White House spokesman Tony Fratto said when asked whether the administration had discussed what to do if the two government-sponsored enterprises and major sources of mortgage financing falter.

"That's the single most important thing we need to accomplish. We're pleased they've been raising capital so they can continue to serve their role," he added.

(Reporting by Matt Spetalnick; Editing by James Dalgleish)