WASHINGTON—The Federal Housing Finance Agency (FHFA) has released the 2019 scorecard it will use to assess the government-sponsored enterprises' (GSEs) –
Fannie Mae and Freddie Mac – progress made toward their three conservatorship priorities.
The three goals, which were first outlined in 2014, include:
- Maintain, in a safe and sound manner, credit availability and foreclosure prevention activities for new and refinanced mortgages to foster liquid, efficient, competitive, and resilient national housing finance markets
- Reduce taxpayer risk through increasing the role of private capital in the mortgage market
- Build a new single-family infrastructure for use by the GSEs and adaptable for use by other participants in the secondary market in the future
The 2019 scorecard outlines the criteria the GSEs will be assessed on, and it includes implementing the single security initiative on the common securitization platform in the second quarter of the year, reported NAFCU.
NAFCU last month offered its support of the FHFA's proposal to create and use a uniform mortgage-backed security (UMBS), as well as its proposal to establish capital requirements for the GSEs.
NAFCU has urged the administration and Congress to work together on a comprehensive solution to housing finance reform, and has argued that the continued conservatorship of the government-sponsored enterprises is unsustainable.