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  • A Solid Foundation

    As the conservator of Fannie Mae and Freddie Mac, we help guide their business decisions to protect America’s homeowners now and build a sound infrastructure for future mortgage finance markets.

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Goals of Conservatorships

The overall goals of the conservatorships are to:

  • help restore confidence in Fannie Mae and Freddie Mac,

  • enhance their capacity to fulfill their mission,

  • and mitigate the systemic risk that contributed directly to instability in financial markets.

Conservatorships Strategic Plan goals:

1. MAINTAIN, in a safe and sound manner, foreclosure prevention activities and credit availability for new and refinanced mortgages to foster liquid, efficient, competitive and resilient national housing finance markets.

2. REDUCE taxpayer risk through increasing the role of private capital in the mortgage market.

3. BUILD a new single-family securitization infrastructure for use by the Enterprises and adaptable for use by other participants in the secondary market in the future.  


Conservatorship Scorecard

The annual Conservatorship Scorecard is FHFA's mechanism for communicating its priorities and expectations for the Enterprises and providing transparency to the public about these expectations.

Conservatorship Progress Reports

FHFA Conservatorship Progress Reports detail the activities Fannie Mae, Freddie Mac, and Common Securitization Solutions made throughout the year in furtherance of FHFA's conservatorship goals:   Maintain, Reduce, and Build.


Why Fannie Mae and Freddie Mac are in Conservatorships

Fannie Mae and Freddie Mac are in conservatorships to preserve and conserve their assets and property and restore them to a sound financial condition so they can continue to fulfill their statutory mission of promoting liquidity and efficiency in the nation's housing finance markets. 

Role as Conservator

Conservatorship is intended to stabilize troubled institutions with the objective of maintaining normal business operations and restoring financial safety and soundness. 

As conservator, FHFA has the powers of the management, boards, and shareholders of Fannie Mae and Freddie Mac.  However, Fannie Mae and Freddie Mac continue to operate as business corporations. 

While FHFA has very broad authority, the focus of the conservatorships is not to manage every aspect of Fannie Mae's and Freddie Mac's operations.  Instead, under conservatorship, we are responsible for the overall management of Fannie Mae and Freddie Mac and have delegated many operational and other duties to their management and boards.  However, they must consult with, and obtain approval from us, as conservator, on critical matters.

Conservator Authority

On July 30, 2008, President George W. Bush signed Public Law 110-289, the Housing and Economic Recovery Act of 2008 (HERA), which established FHFA, giving the agency authority to place regulated entities into conservatorship or receivership. 

When Placed in Conservatorships

Fannie Mae and Freddie Mac were placed into conservatorships on September 6, 2008. The Boards consented on September 6, 2008.  FHFA and Treasury publicly announced details on September 7, 2008.  Read more on History of Conservatorships page. 

Other Related Information: 


Treasury and Federal Reserve Purchase Programs for GSE and Mortgage-Related Securities

Data on activities by the Department of the Treasury and the Federal Reserve System to support mortgage markets through purchases of securities issued by Fannie Mae, Freddie Mac, and the Federal Home Loan Banks and by Ginnie Mae, a federal agency that guarantees securities backed by mortgages insured or guaranteed by the Federal Housing Administration, the Department of Veterans Affairs, and other federal agencies.


Capital Requirements

Common Securitization Platform  - link to Information and public input about a new securitization infrastructure to align and improve the business practices of Fannie Mae and Freddie Mac.


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