Washington, D.C. – The Federal Housing Finance Agency (FHFA) issued a Progress Report today summarizing the 2016 activities of Fannie Mae and Freddie Mac (the Enterprises) to further FHFA’s three strategic objectives as conservator: Maintain, Reduce, and Build.
The Progress Report details efforts made to address borrower impediments to credit access while transitioning from crisis era policies and programs to those that will help borrowers and communities that are still struggling. The Report also describes advances made in the Enterprises’ credit risk transfer programs and other activities designed to increase the role of private capital in the secondary mortgage market and reduce risk for taxpayers. The Report also describes the successful implementation of Release 1 of the Common Securitization Platform, a significant milestone toward the ultimate goals of building a new securitization infrastructure and issuance by both Enterprises of a single, common security. In addition, the Progress Report documents Fannie Mae’s and Freddie Mac’s ongoing actions to promote diversity and inclusion in furtherance of the strategic goals of the conservatorships.
“In collaboration with Fannie Mae and Freddie Mac, FHFA has made significant progress in meeting our conservatorship objectives,” said FHFA Director Melvin L. Watt. “This report underscores our commitment to transparency as we continue to foster liquidity and efficiency in the housing finance markets, reduce risk to taxpayers and build a new mortgage securitization infrastructure, all in a safe and sound manner.”
Interested parties are invited to provide input on this Report. Feedback can be submitted electronically, or to the Federal Housing Finance Agency, Office of Strategic Initiatives, 400 7th Street, S.W., Washington, D.C. 20219.