Freddie Mac-No Politics (FMCC)

[vincen71]

NEWS!!!: FHFA Annual Report to Congress, June 13, 2013. Some good news and heavy reading:

http://www.fhfa.gov/webfiles/25320/FHFA2012_AnnualReport.pdf

The FHFA's outlook on the future.

“Today, the government touches more than 9 out of every 10 mortgages. With this in mind, it is essential that FHFA help transition the mortgage market to a more secure, sustainable, and competitive model. The conservatorships of Fannie Mae and Freddie Mac were never intended to be long-term solutions.

It is vital to the lasting health of our country’s housing and financial markets that our elected leaders work to bring the conservatorships to a conclusion and define the government’s role and requirements for housing finance in the future. The steps we are taking to move forward on conservatorship strategic plan in 2013 should help to set the stage for whatever transition policymakers choose. Since Fannie Mae and Freddie Mac were placed into conservatorship, we have made major strides towards rehabilitating the mortgage market and keeping borrowers in their homes, but there is still much to be done.

The nation will need a healthy and efficient secondary mortgage market regardless of the final resolution of the conservatorships. That is why we continue to move forward with the framework we began in 2012—one that will work for the Enterprises now and in the future. We seek to establish a framework that can support the secondary mortgage market after conservatorship, with or without government involvement, and attract more private capital to the market.”

I see no mention of a wind-down. In fact, the FHFA talks extensively about building a secondary enterprise separate from Fannie/Freddie that would operate independently of them (but nothing of that secondary enterprise replacing them entirely).