WASHINGTON, Oct 23 (Reuters) - The federal government stands firmly behind the debt issued by mortgage finance companies Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research) and that support will continue, the companies' main regulator said on Thursday.

A government takeover of the two companies gives the companies "access to credit from the U.S. Treasury (and) an explicit guarantee to existing and future debt holders of Fannie Mae and Freddie Mac," James Lockhart, the director of the Federal Housing Finance Agency told the Senate Banking Committee.

"Spreads have widened for the GSEs and many other issuers of securities. As confidence returns and investors understand the strength of the Treasury agreements, we would expect that to narrow." (Reporting by Patrick Rucker; Editing by Neil Stempleman)