The Resource Fannie Mae and Freddie Mac : analysis of options for revising the housing enterprises' long-term structures : report to congressional committees, United States Government Accountability Office

Fannie Mae and Freddie Mac : analysis of options for revising the housing enterprises' long-term structures : report to congressional committees, United States Government Accountability Office

Label
Fannie Mae and Freddie Mac : analysis of options for revising the housing enterprises' long-term structures : report to congressional committees
Title
Fannie Mae and Freddie Mac
Title remainder
analysis of options for revising the housing enterprises' long-term structures : report to congressional committees
Statement of responsibility
United States Government Accountability Office
Title variation
Analysis of options for revising housing enterprises' long-term structures
Creator
Subject
Language
eng
Summary
Congress established Fannie Mae and Freddie Mac (the enterprises) with two key housing missions: (1) provide stability in the secondary market for residential mortgages (also in periods of economic stress) and (2) serve the mortgage credit needs of targeted groups such as low-income borrowers. To accomplish these goals, the enterprises issued debt and stock, purchased mortgages from lenders with the proceeds, and retained them in portfolio or pooled them into mortgage-backed securities (MBS) sold to investors. On September 6, 2008, the Federal Housing Finance Agency (FHFA) placed the enterprises into conservatorship out of concern that their deteriorating financial condition ($5.4 trillion in outstanding obligations) would destabilize the financial system. With estimates that the conservatorship will cost taxpayers nearly $400 billion, GAO initiated this report under the Comptroller General's authority to help inform the forthcoming congressional debate on the enterprises' future structures. It discusses the enterprises' performance in meeting mission requirements, identifies and analyzes options to revise their structures, and discusses key transition issues. GAO reviewed studies and data, and interviewed housing finance experts and officials from the enterprises, FHFA, Departments of the Treasury (Treasury) and Housing and Urban Development (HUD), the Federal Reserve, lenders, and community groups
Cataloging source
FRC
Government publication
federal national government publication
Illustrations
charts
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://bibfra.me/vocab/lite/organizationName
United States
http://library.link/vocab/subjectName
  • Federal National Mortgage Association
  • Freddie Mac (Firm)
  • Global Financial Crisis, 2008-2009
  • Mortgage-backed securities
  • Secondary mortgage market
Label
Fannie Mae and Freddie Mac : analysis of options for revising the housing enterprises' long-term structures : report to congressional committees, United States Government Accountability Office
Instantiates
Publication
Note
  • Title from title screen (GAO, viewed Oct. 14, 2009)
  • "September 2009."
  • "GAO-09-782."
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
mixed
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Dimensions
unknown
Extent
1 online resource (iii, 66 pages)
Form of item
electronic
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
charts
Specific material designation
remote
Label
Fannie Mae and Freddie Mac : analysis of options for revising the housing enterprises' long-term structures : report to congressional committees, United States Government Accountability Office
Publication
Note
  • Title from title screen (GAO, viewed Oct. 14, 2009)
  • "September 2009."
  • "GAO-09-782."
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
mixed
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Dimensions
unknown
Extent
1 online resource (iii, 66 pages)
Form of item
electronic
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
charts
Specific material designation
remote

Library Locations

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      3400 Chestnut Street, Philadelphia, Pennsylvania, 19104, US
      39.954941 -75.193362
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