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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.

GSE Reform

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.

Useful Links: Federal Housing Finance Agency, Fannie Mae, Freddie Mac, U.S. Federal Home Loan Bank System

NCSHA Blog Posts

  • October 4, 2017
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    Members of the House Financial Services Committee questioned Federal Housing Finance Agency (FHFA) Director Mel Watt on a variety issues related to oversight of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac during a hearing held yesterday. Committee members also asked for Watt’s thoughts on how a future housing finance system should be structured.

  • September 27, 2017
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    The Federal Housing Finance Agency (FHFA) earlier today released its proposed Strategic Plan for Fiscal Years 2018-2022. The plan outlines FHFA's goals and priorities for overseeing Fannie Mae, Freddie Mac, and the Federal Home Loan Banks (FHLBs).

    News

    • August 2, 2012
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      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.

    • April 30, 2010
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      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.

      Government Sponsored Enterprises (GSEs) - Resources

      • July 10, 2017

        HFAs have a strong history of working with the GSEs to create affordable multifamily and single-family housing opportunities. NCSHA is pleased that both Fannie Mae and Freddie Mac have proposed in their Underserved Market Plans to build on these partnerships and collaborate with HFAs in their efforts to support underserved communities and markets. Several HFAs have already started to engage with the GSEs on initiatives to help the GSEs reach their Duty to Serve objectives.

      • March 20, 2017

        Key Congressional Committee Rosters for NCSHA in the 115th Congress.