Federal Housing Finance Agency Director (FHFA) James B. Lockhart has released the Agency’s first Strategic Plan since FHFA was created nearly one year ago in the Housing and Economic Recovery Act (HERA). The plan details the goals and objectives for 2009-2014 that will guide the Agency in its actions to restore the financial health of Fannie Mae, Freddie Mac, enhance the Federal Home Loan Bank System and contribute to the strength and stability of the nation’s housing finance market and affordable housing.
“Safe and sound housing GSEs will better contribute to stabilizing the mortgage markets by further reducing foreclosures and assisting borrowers who are at risk of losing their homes. Over the next couple of years, Fannie Mae’s and Freddie Mac’s role in the Making Home Affordable program will be critical in stabilizing the mortgage market,” said Lockhart. “The stronger regulatory framework created by HERA will be crucial in achieving and maintaining safety and soundness in the housing GSEs, and the success of our efforts as an agency. I am confident that this Strategic Plan creates the vision necessary to fulfill the responsibilities vested in FHFA.”
The plan lists three strategic goals of Safety and Soundness, Housing Mission and Conservatorship as well as a Resource Management Strategy FHFA will employ in fulfilling its mission to “provide effective supervision, regulation and housing mission oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks to promote their safety and soundness, support housing finance and affordable housing, and support a stable and liquid mortgage market.”
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $6.3 trillion in funding for the U.S. mortgage markets and financial institutions.
Click here for a copy of the FHFA's Five-Year Plan.