Fannie Mae Seeks Financial Advisor To Assist In Ending Conservatorship
May 18, 2020
Fannie Mae has announced that it will issue a request for proposals to hire an underwriting financial advisor who will assist in developing and implementing a plan for recapitalizing and ending its conservatorship. The advisor will work closely with the company and the Federal Housing Finance Agency (FHFA) to consider business and capital structures, market impacts and timing, and available capital raising alternatives, among other items.
“While we are fulfilling our mission and helping to keep people in their homes during this national emergency, we also remain committed to ensuring a responsible exit from conservatorship,” said Hugh R. Frater, Fannie Mae CEO. “Today’s announcement is a significant step on that path, and we look forward to making a timely selection in the competitive process.”
Engaging a financial advisor is an important milestone in meeting Fannie Mae’s 2020 FHFA scorecard objective to prepare a responsible transition plan for a potential exit from conservatorship. The support of private capital will contribute to increasing the resiliency of the housing finance system.
Back in February, the FHFA contracted Houlihan Lokey Capital Inc. to serve as its financial advisor during the process of ending the federal conservatorship of the GSEs, at a price tag of $9 million for the first year of its contract.
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