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On Dec. 17, 2015, the Federal Housing Finance Agency released its annual Scorecard for Fannie Mae and Freddie Mac (the government sponsored entities, or “GSEs”). The Scorecard acts as an agenda for the GSEs by setting specific priorities for the two companies while in conservatorship. FHFA outlined three strategic goals:
- 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; and
- 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.
Specific measures including further analysis on the use of alternate credit scores, increased mortgage insurance coverage, and performance of non-performing note sales will be high priorities throughout the year. Follow the link below to access the 2016 Scorecard.
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