Update on Federal Housing Finance Agency Oversight
January 1, 2018
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The Frame
The hearing addresses the status of the Federal Housing Finance Agency's oversight of Fannie Mae and Freddie Mac, which manage approximately $5 trillion in mortgage assets and remain under government since the 2008 financial crisis.
Potentially affected actors named in the source documents. Mention is not a position.
Taxpayers
Taxpayers provided the funds for the 2008 bailout of the government-sponsored enterprises.
Fannie Mae and Freddie Mac
These entities are currently operating under government conservatorship overseen by the FHFA.
Last recorded activity January 1, 2018.
Next step not available in the current record.
Summary
Key Facts
- The hearing took place on October 3, 2017, before the House Committee on Financial Services.
- The FHFA oversees Fannie Mae, Freddie Mac, and eleven Federal Home Loan Banks.
- Fannie Mae and Freddie Mac have been under government conservatorship for nine years as of the date of the hearing.
- The GSEs (Fannie Mae and Freddie Mac) manage approximately $5 trillion in mortgage assets.
- The committee received written responses to questions from Representatives Beatty, Hultgren, Loudermilk, and Stivers.
- A letter from Doug Bibby, President of the National Multifamily Housing Council, was submitted for the record.
Why It Matters
The hearing addresses the status of the Federal Housing Finance Agency's oversight of Fannie Mae and Freddie Mac, which manage approximately $5 trillion in mortgage assets and remain under government since the 2008 financial crisis.
Frequently Asked Questions
What is the role of the Federal Housing Finance Agency (FHFA)?
How long have Fannie Mae and Freddie Mac been under government conservatorship?
News Coverage
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Long-term Conservatorship
The hearing highlights that nine years after the 2008 crisis, the GSEs remained under government control with little fundamental change to their structure.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance60How much this matters to a regular citizen
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz10Current news / social attention level
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