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FEDERALhearing transcript

High Impact

Oversight Hearing: Federal Housing Finance Agency (FHFA)

Original title: OVERSIGHT OF THE FEDERAL HOUSING FINANCE AGENCY

January 1, 2018

housing finance Fannie Mae Freddie Mac FHFA taxpayer risk mortgage market

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The Frame

What this does

The hearing examines the federal government's management of Fannie Mae and Freddie Mac, which currently hold approximately $5.3 trillion in taxpayer-backed risk and have received $193.5 billion in taxpayer investment since 2008.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Taxpayers

Taxpayers are exposed to $5.3 trillion in risk through the government's conservatorship of Fannie Mae and Freddie Mac.

Fannie Mae and Freddie Mac

These entities are under the direct conservatorship and regulatory oversight of the FHFA.

What changed

Last recorded activity January 1, 2018.

What's next

Next step not available in the current record.

Summary

This document is a transcript from a 2018 House Subcommittee hearing regarding the oversight of the Federal Housing Finance Agency (FHFA). The hearing focused on the agency's dual role as both a regulator and a for Fannie Mae and Freddie Mac, and the associated risks to taxpayers.

Key Facts

The FHFA serves as both the regulator and the conservator for Fannie Mae and Freddie Mac.
The total taxpayer risk associated with Fannie Mae and Freddie Mac is approximately $5.3 trillion.
Taxpayers have invested $193.5 billion into Fannie Mae and Freddie Mac since 2008.
The hearing was held on April 12, 2018, by the Subcommittee on Oversight and Investigations.
The subcommittee discussed the need to shift from taxpayer subsidies toward private capital in the mortgage market.

Frequently Asked Questions

What is the FHFA?

The Federal Housing Finance Agency is an independent regulatory body that supervises Fannie Mae and Freddie Mac.

Why is the FHFA's role considered controversial by some members of Congress?

Some members argue that acting as both a regulator and a creates a conflict of interest and that the agency should focus on reducing its scope.

Why It Matters

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Shift toward private capital

The subcommittee explicitly advocated for reducing taxpayer subsidies in favor of private capital and free-market incentives in the mortgage market.

Federal Housing Finance Agency Fannie Mae Freddie Mac

Connected Entities

organizationFreddie Mac“Government-sponsored enterprise under FHFA conservatorship.”Map →

organizationFannie Mae“Government-sponsored enterprise under FHFA conservatorship.”Map →

organizationFederal Housing Finance Agency“The primary regulatory body for Fannie Mae and Freddie Mac.”Map →

personAnn Wagner“Chairwoman of the Subcommittee on Oversight and Investigations.”Map →

personLaura Wertheimer“Inspector General of the Federal Housing Finance Agency and witness at the heari”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance75
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz15
Current news / social attention level

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