FHFA Notes Progress Made in Fannie, Freddie Strategic Goals
December 6, 2013
Fannie Mae and Freddie Mac have finished the underwriting reviews of mortgages they acquired prior to their takeover by the federal government in 2008 and have now recovered more than $18 billion in restitution for breaches of selling representations and warranties, according to a new progress report from the Federal Housing Finance Agency. The GSE regulator notes that Fannie and Freddie have each executed multiple risk-sharing transactions, beating their mandated goal of $30 billion. The two also have achieved the Conservator Scorecard Objective of gradually reducing the less-liquid portions of their retained portfolios, according to the Finance Agencys report.