Posted To: MND NewsWire

The Federal Housing Finance Agency (FHFA) released its annual Report to Congress for 2019 on Monday. The report summarizes the FHFA’s activities as regulator of the Federal Home Loan Banks (FHLBanks) and as both regulator and conservator of the GSEs Fannie Mae and Freddie Mac. The report addresses how FHFA has fulfilled its statutory responsibilities, the financial condition of the GSEs and FHLBanks, and details the agency’s response in 2020 to the COVID-19 outbreak. FHFA Director Mark Calabria again called on Congress to reform the nation’s housing financing system, saying that only legislative action can address the flaws that were at the root of the 2008 financial crisis and continue to pose risks to taxpayers and financial stability. He said, “There are critical vulnerabilities in our housing…(read more)

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Source: Mortgage News Daily