The Federal Housing Finance Agency (FHFA) released “2019 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac” and “2020 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions,” two publications detailing the near-term future for the government-sponsored enterprises (GSEs).
In the 16-page “2019 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac,” the FHFA offers a plan from the agency on how the GSEs will fulfill their statutory missions and maintain their focus on safety and soundness while preparing for what the FHFA calls “a responsible end to the conservatorships.”
“Turning this vision into reality will take time and a great deal of effort. Building the kind of resilient mortgage finance system contemplated in this Strategic Plan, as well as preparing FHFA and the Enterprises to operate successfully within it, are significant but achievable endeavors,” the report concluded. “To the greatest extent possible, FHFA will pursue administrative reforms, legislative reform, and reform of the conservatorships simultaneously.”
In the six-page “2020 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions,” the FHFA details how the GSEs remain accountable for the effective implementation of the Strategic Plan in the coming year.
“Our nation’s mortgage finance system is in urgent need of reform,” said FHFA Director Mark Calabria. “The vision for reform articulated in the Strategic Plan and advanced in the Scorecard will serve borrowers and renters by preserving mortgage credit availability, protect taxpayers by ensuring Fannie Mae and Freddie Mac can withstand an economic downturn, and support a strong and resilient secondary mortgage market.”