Fannie Mae and Freddie Mac are making steady, if unexhilarating progress in overhauling management systems that had fallen well short of acceptable standards, according to an annual report filed by the Office of Federal Housing Enterprise Oversight this week. Both government-sponsored enterprises continued to warrant supervisory concern, although only Fannie Mae’s problems were still classified as deserving “significant supervisory concern,” the OFHEO report states. Given the fact that past OFHEO examinations failed to uncover serious