Government-Sponsored Enterprises (GSEs)
On September 7, 2008, Federal Housing Finance Agency (FHFA) placed Fannie Mae and Freddie Mac (the government sponsored enterprises, or GSEs) into conservatorship. FHFA explained it took this action “to help restore confidence in Fannie Mae and Freddie Mac, enhance their capacity to fulfill their [housing] mission, and mitigate the systemic risk that has contributed directly to the instability in the current market.” Now under debate is the future structure of Fannie Mae and Freddie Mac.
Read more about the GSEs Conservatorship>
Issue Summary>
On February 18, 2009, President Obama announced his Making Home Affordable Program, designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages.
GSEs Home Affordable Refinancing Programs>
GSEs Home Affordable Modification Programs>
Sign Up to Sell Fannie Mae and Freddie Mac REOs>
For more detailed information, visit our Making Home Affordable Program homepage.
What's New
07/24/2009 - Additional HVCC Guidance Released by FHFA, GSEs Called Good First Step by NAR
On July 22, 2009, the Federal Housing Finance Agency (FHFA) released a notice on the Home Valuation Code of Conduct (HVCC).
Read more>
Visit www.realtor.org/hvcc>
07/10/2009 - Freddie Mac Stresses Appraisers Knowledge of Local Areas in Recent Bulletin
On July 10, Freddie Mac released Bulletin 2009-18 to sellers and servicers. The bulletin addresses appraisals and underwriting.
Read more>
06/29/2009 - Fannie Mae E-News for Real Estate Professionals
Fannie Mae has set up an electronic newsletter targeted to real estate professionals
Subscribe to start receiving the newsletter>
In-Depth Analysis / Advocacy History
Government Sponsored Enterprises (GSEs) Issue Summary
Fannie Mae's Guidelines for Loan Limits in High Cost Areas (March 30, 2009)
Obama's Making Home Affordable Program (February 18, 2009)
FHA, Fannie Mae and Freddie Mac Loan Limits (February 13, 2009)
Home Valuation Code of Conduct (HVCC) (December 23, 2008)
NAR's Adopted Principles for GSEs (November 11, 2008)
GSEs Conservatorship (September 7, 2008)
What the Federal Economic Stimulus Package means for REALTORS® (July 30, 2008)
House Passes H.R. 1427, The Federal Housing Finance Act of 2007 (May 22, 2007)
Timeline
Ad Campaigns
Jan/Feb, 2008 - NAR Urges Congress To Raise GSE Loan Limits and Pass FHA Reform (PDF: 84K)
Legislation in the 111th Congress
H.R. 2483 - List of Cosponsors / Text of Legislation
Legislation in the 110th Congress
H.R. 1427 - List of Cosponsors / Text of Legislation / How They Voted
S. 1100 - List of Cosponsors / Text of Legislation
Legislation in the 109th Congress
Legislation: Read H.R. 1461 (PDF: 419K)
Legislation: Read S. 190 (PDF: 363K)
Legislation: H.R. 1461 - List of Cosponsors
Legislation: S.190 - List of Cosponsors
