Fannie Mae, Freddie Mac, and the Federal Home Loan Banks (FHLBs) are government-sponsored enterprises (GSEs) that help bring capital to the housing markets. Their regulator is the Federal Housing Finance Agency (FHFA).
HFAs and the Housing GSEs
Fannie Mae and Freddie Mac purchase and securitize loans from HFAs and other lenders who then use the proceeds to finance more mortgages. The FHLBs provide advances and other financial products to support their members’ affordable housing activities. The GSEs are critical in providing liquidity, stability and affordability to the mortgage market, particularly for long-term, fixed-rate mortgages. Until recent years, Fannie Mae and Freddie Mac were large purchasers of Housing Bonds and Housing Credits.
Recently, Congress has begun to consider comprehensive reform legislation, particularly Fannie Mae and Freddie Mac. NCSHA supports a strong, healthy GSE system in order to ensure stability, liquidity, and affordability in the home mortgage market. NCSHA's position paper on GSE reform calls for a for a system with an explicit goverment guarantee, robust affordable housing goals, and a clear commitment to partnering with HFAs.
NCSHA Blog Posts
- December 10, 2013
On December 6, HUD issued a Mortgagee Letter announcing that it will decrease the maximum Federal Housing Administration (FHA) single-family loan limits for homes in high-cost areas from $729,750 to $625,500, effective January 1, 2014.
- December 6, 2013
Senate Banking Committee leaders are expected to continue their efforts to develop comprehensive legislation to reform the Government-Sponsored Enterprises (GSEs) –Fannie Mae and Freddie Mac—when the Senate returns from its Thanksgiving recess next week.
- Bloomberg News
- Washington Post
- The Hill
- August 2, 2012
The funding comes by way of the AG’s office from the National Mortgage Settlement. It was given to the Tennessee Housing Development Agency to administer. THDA officials say the application process will be similar to that of the Hardest Hit Fund, which helps homeowners on the brink of foreclosure.
- Ohio HFA Closes the First Multifamily Bond Transaction Under the Obama Administration’s Treasury/GSE InitiativeApril 30, 2010
The Ohio Housing Finance Agency (OHFA) recently issued $5.6 million of tax exempt bonds on behalf of New Hampshire House Associates, LLC. The proceeds of the bonds will be used to finance the acquisition and rehabilitation of a multifamily residential rental facility in Warren, Ohio.
- April 29, 2011
Get into the swing of spring with an energetic exchange of ideas and knowledge with your HFA peers from across the country at our annual Virtual Spring Training. Spring Training is open to HFAs only.
Government Sponsored Enterprises (GSEs) - Resources
- December 6, 2013
The Housing Finance Reform and Taxpayer Protection Act of 2013 (S. 1217), also known as Corker-Warner, would phase out Fannie Mae and Freddie Mac over five years and replace them with the Federal Mortgage Insurance Corporation (FMIC), which would sell federal guaranteed catastrophic reinsurance on mortgage-backed securities (MBSs), among other provisions.
- June 11, 2013