ABA Banking Journal
The Federal Housing Finance Agency today issued the metrics on which it will assess the 2017 performance of Fannie Mae, Freddie Mac and their jointly owned securitization platform, which will be implemented for the “Single Security” to be issued by both GSEs in 2018.
Among other goals, the GSEs will be expected to implement the post-crisis permanent modification for borrowers with long-term hardships; develop plans to promote credit access to underserved segments of the market, including borrowers with limited English proficiency; evaluate and address issues related to their credit risk transfer programs; and continue the development and implementation of the common securitization platform and the Single Security. FHFA also provided specific metrics for credit risk transfer goals for Fannie and Freddie.