NAR Comments on FHFA's Proposed Strategic Plan

NAR respondedpdf to the Federal Housing Finance Agency's (FHFA) proposed strategic plan for the coming three years. The FHFA seeks to trim many of its duties implemented over the prior four years, arguing that several programs are not based in statute, including sharing with the industry information on Fannie Mae and Freddie Mac's (the GSEs) behavior, as well as market research. While NAR firmly supports adherence to the rule of law, NAR noted that many important changes to the GSEs were made under special powers given by Congress to the FHFA Director that only exist while the GSEs are under their current state of conservatorship. For the FHFA to continue to effectively exercise such powers, such as the provision of data and research as well as oversight of the GSEs' counterparties, the FHFA director should request these powers permanently from Congress, as the prior two FHFA Directors have done.