This annual report describes FHFA's accomplishments, as well as challenges, the agency faced in meeting the strategic goals and objectives during the past fiscal year.
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Implement critical reforms that will produce a stronger and more resilient housing finance system.
FOSTER competitive, liquid, efficient, and resilient (CLEAR) national housing finance markets that support sustainable homeownership and affordable rental housing; OPERATE in a safe and sound manner appropriate for entities in conservatorship; and PREPARE for eventual exits from the conservatorships.
2019 Conservatorships Strategic Plan
FHFA experts provide reliable data, including all states, about activity in the U.S. mortgage market through its House Price Index, Refinance Report, Foreclosure Prevention Report, and Performance Report.
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Language Translation Disclosure
Building a new securitization infrastructure is a core goal of FHFA's 2014 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac and a key element of this goal is the Single Security Initiative. The aim of the Single Security Initiative is to improve the liquidity of Fannie Mae's and Freddie Mac's To-Be-Announced (TBA) securities by combining the two, now-separate Enterprise TBA markets, with each Enterprise issuing a common, fungible Uniform Mortgage-backed Security (UMBS). The UMBS is scheduled for implementation on June 3, 2019, less than eight months from now.
What Needs to Happen
What Has Happened
This all sounds like a tall order, and it is. Happily, we can report progress on many fronts:
What remains to be done?
FHFA looks forward to working with staff at Fannie Mae, Freddie Mac, and CSS – as well as with industry stakeholders – to complete the necessary work to launch the UMBS on June 3, 2019.
Common Securitization Platform (CSP); Common Securitization Solutions (CSS); Fannie Mae; Freddie Mac; Mortgage-Backed Securities (MBS); prepayment; Securitization; Securitization Infrastructure; Single Security Initiative; Uniform Mortgage-backed Security (UMBS); UMBS
Mary Ellen Taylor
Associate Director, Division of Conservatorship
© 2020 Federal Housing Finance Agency