Fannie Mae officials expressed their strong disagreement with the chairman's suggestions, saying they were based on faulty research. "We find it surprising that his testimony relies so heavily on a working paper by a member of the Federal Reserve staff, which is still being reviewed by many experts as the chairman requested, " says Jayne Shontell, Fannie Mae senior vice president for investor relations. "The working paper's author himself has written that the data he used were inadequate for the analysis he was attempting to do."
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