According to FHFA’s own performance and accountability reports, the number of employees at the agency grew from 609 in 2019 to 635 in 2020. More tellingly, FHFA has budgeted for an additional 113 employees in 2021.
The Fed and commercial banks purchased a combined $1 trillion in agency MBS over the past 12 months, more than 145% of the net supply. (Includes data chart.)
Treasury’s stake in the GSEs should be used to create a joint venture focused on affordable housing. Also, to ensure success, Fannie and Freddie should be converted into utilities, two industry pros recommend.