News release: “The Federal Housing Finance Agency (FHFA) released its third Report to Congress, detailing the findings of the agencys 2010 annual examinations of Fannie Mae, Freddie Mac, the 12 Federal Home Loan Banks (FHLBanks), and the FHLBanks Office of Finance.
Since being placed under conservatorship in 2008, Fannie Mae and Freddie Mac remain critical supervisory concerns, FHFA Acting Director Edward J. DeMarco wrote to Congress. These ratings are a result of continuing credit losses in 2010 from loans originated during 2005 through 2007 as well as forecasted losses from loans originated during that time. As a result of the conservatorships, federal government support and an improved corporate governance structure, the Enterprises accomplished their statutory mission of facilitating stability and liquidity for single-family and multifamily housing finance.
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