FHFA: Report Details Progress on the 2017 Scorecard for Fannie Mae and Freddie Mac
March 29, 2018
Washington, D.C. – The Federal Housing Finance Agency (FHFA) issued a Progress Report today summarizing the 2017 activities of Fannie Mae and Freddie Mac (the Enterprises) to further FHFA’s three strategic objectives as conservator: Maintain, Reduce, and Build.
The Report describes efforts taken by the Enterprises during 2017 to address factors limiting access to mortgage credit for creditworthy borrowers, to mitigate and prevent foreclosures, and to responsibly reduce severely-aged delinquent loans, nonperforming loans, and real estate owned properties. The Report describes Enterprise activities to reduce taxpayer risk, including efforts to expand single- and multi-family credit risk transfer transactions and activities to reduce the Enterprises’ retained portfolios. The Report also highlights progress made on the Single Security Initiative and on the Common Securitization Platform. In addition, the Report describes the Enterprises’ ongoing efforts to promote diversity and inclusion in all Scorecard activities.
“This is the fifth annual report detailing the significant steps taken by FHFA, in collaboration with Fannie Mae, Freddie Mac, and Common Securitization Solutions, to meet our conservatorship objectives,” said FHFA Director Melvin L. Watt. “It also underscores our continuing commitment to transparency and to meeting these objectives 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, DC 20219.
Link to Progress Report
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $6.0 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube and LinkedIn.
Media: Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030
Consumers: Consumer Communications or (202) 649-3811