Washington, DC – October 9, 2012 – (RealEstateRama) — Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco today released an updated strategic plan for FHFA for fiscal years 2013-2017 subtitled, “Preparing a Foundation for a More Efficient and Effective Housing Finance System.”
The four strategic goals included in the new FHFA plan are:
1. Safe and sound housing government-sponsored enterprises, or GSEs (Fannie Mae, Freddie Mac and Federal Home Loan Banks);
2. Stability, liquidity, and access in housing finance;
3. Preserve and conserve Enterprise (Fannie Mae and Freddie Mac) assets; and
4. Prepare for the future of housing finance in the United States.
“The initiatives and strategies set forward in this plan will serve to improve current mortgage processes, inspire greater confidence among prospective market participants, and set the stage for recovery and an improved future system of housing finance,” said DeMarco. “Working with the Congress, the Administration and FHFA’s stakeholders, I am confident that FHFA will meet the challenge of building the foundation for a safer, more efficient, and effective system of housing finance.”
The agency requested public comment on the strategic plan in May in accordance with the Government Performance and Results Modernization Act of 2010. The updated plan also incorporates key components of FHFA’s Strategic Plan for Enterprise Conservatorships released in February.
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.7 trillion in funding for the U.S. mortgage markets and financial institutions.
October 9, 2012