Michael Williams, the president and chief executive of Fannie Mae, said Wednesday that the government-sponsored enterprise is preparing for an expected overhaul of the U.S. housing system by Congress and the Obama administration.

"Our company knows the change is coming. We understand that many options are on the table," said Williams in a speech before Women in Housing and Finance. "We feel confident that we are taking the steps necessary to prepare for all outcomes and put the company on the right track."

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