Fannie Mae-No Politics (FNMA)

[familymang]

She mentions "safety and soundness" 4 times in 1.5 pages, but no outline or vision on how she plans to achieve this exactly when the GSEs currently have negative capital thanks to the overhanging senior pfds. Finalizing the capital rule and capital restoration plan while allowing the GSEs to continue to retain capital are all critical steps. But she needs to lay out a longer-term vision (if there is one) on what to do once those are complete. Will it just be organically retaining capital via earnings + perpetual conservatorship, or is there an actual exit plan?

The Agency plays a vital role in both promoting access to mortgage credit nationwide and protecting the safety and soundness of the housing finance system through our supervision of Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System (housing GSEs).

In my work at FDIC and FHFA, I have demonstrated leadership, management ability, an understanding of the secondary mortgage markets and industry, a fair and balanced perspective, and a strong belief in the importance of the safety and soundness of America’s financial institutions.

As a financial regulator, I have long believed that safety and soundness and access to credit are not mutually exclusive.

We will responsibly focus our efforts on the safety and soundness mission Congress gave to FHFA and on the mission that Congress gave the housing GSEs under our supervision