WASHINGTON (Federal Housing Finance Agency) – The Federal Housing Finance Agency (FHFA) has set new objectives for the conservatorships of Fannie Mae and Freddie Mac. The three strategic goals for the government-sponsored enterprises include building new infrastructure for the secondary mortgage market, simplifying and shrinking their marketplace presence, and continuing foreclosure prevention activities as well as mortgage credit availability.
Fannie Mae and Freddie Mac have received more than $180 billion in taxpayer support since being placed in conservatorship in September 2008.
According to the Appraisal Institute, the FHFA is doubtful the money will be repaid in full.