The Federal Housing Finance
Agency (FHFA) released its 2012 Performance and Accountability Report (PAR)
on Thursday and announced that its financial statement therein had received an
unqualified or "clean" audit opinion from the U.S. Government
Accountability Office for the fourth consecutive year.
The PAR details the agency's activities
as conservator of Fannie Mae and Freddie Mac (the GSEs) and as regulator of the
12 Federal Home Loan Banks (FHLBs) and discusses highlights, collective efforts
to assist homeowners, and the remaining challenges and ongoing initiatives to
ensure the agency meets its strategic goals for the FY2012.
Among the key FHFA accomplishments detailed in the PAR:
results and conclusions of
examinations of Fannie Mae, Freddie
Mac and the FHLBs
in FHFA's annual Report to Congress.
for Enterprise Conservatorships, with
a roadmap for the FHFA and the GSEs in
the next phase of
the conservatorships then incorporated it into a new
four-year strategic plan for FHFA.
Office of Strategic Initiatives to coordinate and oversee the activities
associated with the conservatorship plan.
Issued a white paper, Building
a New Infrastructure for the Secondary Mortgage Market,
which proposes a common securitization platform for both GSEs.
executive officers for
Fannie Mae and Freddie Mac and increased
and realigned FHFA staff supervising the companies.
the GSEs to complete foreclosure prevention actions
and enhanced the Home Affordable Refinance Program (HARP) to increase refinances.
real estate owned pilot initiative to
dispose of approximately 1,772 Fannie Mae single-family foreclosed
properties in areas hardest
in the housing
Terminated cease and desist order on the Chicago FHLB due to
improvements in the
bank's financial and capital positions and
deemed the Seattle FHLB "adequately
capitalized" due to a strengthening
of its capital position.
The complete report is available