FHFA Reports on Achievements in FY2012

by devteam November 16th, 2012 | Share

The Federal Housing FinancernAgency (FHFA) released its 2012 Performance and Accountability Report (PAR)</bon Thursday and announced that its financial statement therein had received anrnunqualified or "clean" audit opinion from the U.S. GovernmentrnAccountability Office for the fourth consecutive year.  </p

The PAR details the agency’s activitiesrnas conservator of Fannie Mae and Freddie Mac (the GSEs) and as regulator of thern12 Federal Home Loan Banks (FHLBs) and discusses highlights, collective effortsrnto assist homeowners, and the remaining challenges and ongoing initiatives tornensure the agency meets its strategic goals for the FY2012.</p

Among the key FHFA accomplishments detailed in the PAR:</p<ul class="unIndentedList"<liProvidedrnresults and conclusions ofrn2011rnexaminations of Fannie Mae, FreddiernMac and the FHLBsrnin FHFA's annual Report to Congress.</li</ul<ul class="unIndentedList"<liProduced ArnStrategicrnPlanrnfor Enterprise Conservatorships, withrna roadmap for the FHFA and the GSEs inrnthe next phase ofrnthe conservatorships then incorporated it into a newrnfour-year strategic plan for FHFA.</li</ul<ul class="unIndentedList"<liEstablishedrna newrnOffice of Strategic Initiatives to coordinate and oversee the activitiesrnassociated with the conservatorship plan.</li</ul<ul class="unIndentedList"<liIssued a white paper, Buildingrna New Infrastructure for the Secondary Mortgage Market,rnwhich proposes a common securitization platform for both GSEs. </li</ul<ul class="unIndentedList"<liAppointed newrnchiefrnexecutive officers forrnFannie Mae and Freddie Mac and increasedrnand realigned FHFA staff supervising the companies.</li</ul<ul class="unIndentedList"<liWorked withrnthe GSEs to complete foreclosure prevention actionsrnand enhanced the Home Affordable Refinance Program (HARP) to increase refinances.</li</ul<ul class="unIndentedList"<liCompleted firstrnreal estate owned pilot initiative torndispose of approximately 1,772 Fannie Mae single-family foreclosedrnproperties in areas hardestrnhitrnin the housingrndownturn.</li</ul<ul class="unIndentedList"<liTerminated cease and desist order on the Chicago FHLB due tornimprovements in thernbank's financial and capital positions andrndeemed the Seattle FHLB "adequatelyrncapitalized" due to a strengtheningrnof its capital position.</li</ul

The complete report is availablernat</a

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