The Federal Housing Finance Agency (FHFA) released its annual Scorecard for Fannie Mae and Freddie Mac on December 17, 2015. These government sponsored entities, or “GSEs,” utilize the “Scorecard” as an agenda for setting their priorities while in conservatorship. For 2016, the FHFA outlined these three strategic goals:
- Maintain, in a safe and sound manner, credit availability and foreclosure prevention activities for new and refinanced mortgages to foster liquid, efficient, competitive and resilient national housing finance markets;
- Reduce taxpayer risk through increasing the role of private capital in the mortgage market; and
- Build a new single-family securitization infrastructure for use by the Enterprises and adaptable for use by other participants in the secondary market in the future.
Actionable items will include further analysis of the use of alternate credit scores, increased mortgage insurance coverage, and performance of non-performing note sales.
To access the 2016 Scorecard: 2016 FHFA Scorecard