At a mortgage-industry conference in Chicago in October, Fannie Mae and Freddie Mac spent over $640,000 to host events and pay for 100 employees to attend. The tab raised some eyebrows, The Wall Street Journal reported, including those of a member of the House Financial Services Committee.

Rep. Randy Neugebauer (R, Texas) is asking for details. One of the speakers at the conference was Rep. Spencer Bachus (R, Ala.), who chairs the committee on which Neugebauer sits.

The criticism has gotten some traction, the Journal reported. It said Neugebauer had released a letter in which Edward DeMarco, acting director of the Federal Housing Finance Agency that oversees Fannie and Freddie, wrote, "I believe we can and should provide more detailed direction regarding such expenditures in the future."

Spokesmen for the two agencies said that being able to meet with many lenders in one place was more cost efficient than making individual visits, the newspaper said.