The GSEs substantially advanced their conservatorship goals during 2015, according to the FHFA’s 2016 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions released Thursday. The 2016 Scorecard further expands on the three goals of the GSEs outlined in the FHFA’s Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac, which was published in May 2014: Maintaining credit availability and foreclosure prevention activities, reducing risk to taxpayers, and building a new single-family securitization structure.
FHFA Director Mel Watt stated that, quote, The progress Fannie Mae and Freddie Mac made in 2015 substantially advanced the goals set forth in our Conservatorship Strategic Plan and we expect to build on this progress in 2016. The new Scorecard will guide Fannie Mae, Freddie Mac and Common Securitization Solutions as they continue working to foster liquidity and access to credit for creditworthy borrowers in the national housing finance markets in a safe and sound manner. End quote
The House Oversight and Investigations Committee held a hearing this week in order to determine if the CFPB’s massive data collection efforts are going too far or if they are necessary for the Bureau to complete its regulatory objectives. Mortgage loan-level data information is among the data the Bureau is collecting. Subcommittee Chairman Sean Duffy stated, quote, We don’t know—and the American people don’t know—how much personally identifiable information the CFPB retains, how that data is protected, and what the Bureau plans to do with all that data. End quote.