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U.S. policymakers need to tackle the revamp of government-controlled mortgage finance firms Fannie Mae and Freddie Mac, Federal Reserve Chairman Ben Bernanke said Thursday.  

"Clearly, this is something we need to take on pretty soon," Bernanke said during testimony before the House Financial Services Committee.  

The two mortgage finance firms have been under government control since September 2008, and both Democratic and Republican lawmakers have acknowledged that Congress needs to revamp the nation's system for financing home mortgages. The Obama administration is expected to release a proposal for the future role of the two firms later this year. Read more.