The Federal Housing Finance Agency (FHFA) today released the 2018 Scorecard outlining specific conservatorship priorities for Fannie Mae, Freddie Mac (the Enterprises), and their joint venture, Common Securitization Solutions, LLC (CSS). These goals include:
- Maintain, in a safe and sound manner, credit availability and foreclosure prevention activities for new and refinanced mortgages to foster liquid, efficient, competitive and resilient national housing finance markets;
- Reduce taxpayer risk through increasing the role of private capital in the mortgage market; and
- Build a new single-family infrastructure for use by the Enterprises and adaptable for use by other participants in the secondary market in the future.
For all Scorecard items, the Enterprises and CSS will be assessed based on the following criteria:
- The extent to which each Enterprise conducts initiatives in a safe and sound manner consistent with FHFA’s expectations for all activities;
- The extent to which the outcomes of each Enterprise’s activities support a competitive and resilient secondary mortgage market to support homeowners and renters;
- The extent to which each Enterprise conducts initiatives with consideration for diversity and inclusion consistent with FHFA’s expectations for all activities;
- Cooperation and collaboration with FHFA, each other, the industry and other stakeholders; and
- The quality, thoroughness, creativity, effectiveness and timeliness of their work products.
“The Enterprises performed well throughout 2017. The 2018 Scorecard continues to set a high standard for them to meet as they work to support housing finance and access to credit for homeowners and renters in a safe and sound manner,” said FHFA Director Melvin L. Watt.