March 12, 2012
On March 9, 2012, the Federal Housing Finance Agency (FHFA, the conservator of Fannie Mae and Freddie Mac, or the GSEs) released details on the implementation of the new FHFA strategic plan through the use of a “2012 Conservatorship Scorecard”. The scorecard outlines specific, weighted objectives for the GSEs, as well as implementation timelines. The four objectives outlined for the GSEs in 2012 are:
- Build a new mortgage-backed security infrastructure.
- Contract the GSEs dominance in the secondary market and shrinking certain operations.
- Maintain foreclosure prevention activities (including short sales) and credit availability for new and refinanced mortgages.
- Manage efficiently in support of conservatorship goals.
NAR continues to work with FHFA and the GSEs to provide input on the implementation of the strategic plan and enhancement of short sale and REO transactions.