FHFA Releases 2024 Scorecard for Fannie Mae, Freddie Mac, CSS
The Federal Housing Finance Agency on Tuesday released the 2024 Scorecard for Fannie Mae and Freddie Mac and their joint venture, Common Securitization Solutions LLC.
FHFA releases an annual scorecard to communicate its priorities and expectations for the government-sponsored enterprises and CSS.
“The annual scorecard requires that the enterprises fulfill their mission in a safe and sound manner,” FHFA Director Sandra L. Thompson said. “The 2024 scorecard focuses the enterprises on effective risk management to ensure safety and soundness while meaningfully advancing equitable and sustainable access to homeownership and rental housing.”
FHFA said the 2024 scorecard articulates specific objectives regarding multifamily rental housing needs and opportunities to mitigate risk in the single-family property insurance market and also to promote efficiency in the mortgage market. “The scorecard also identifies objectives for the enterprises to continue to transfer meaningful credit risk to private investors and explore opportunities to harmonize their processes supporting the Single-Family Selling Representations and Warranties Framework,” FHFA said. “Further, the scorecard directs that the enterprises consider the impact of their objectives in all geographies, including rural areas.”
FHFA’s assessment criteria include:
Each entity’s products and programs foster liquid, competitive, efficient and resilient housing finance markets that support affordable, sustainable and equitable access to homeownership and rental housing.
Each entity conducts business in a safe and sound manner.
Each entity meets expectations under all FHFA requirements, including those pertaining to capital, liquidity and credit risk transfer.
Each entity continues to manage operations while in conservatorship in a manner that preserves and conserves assets through the prudent stewardship of resources.
Each entity cooperates and collaborates with FHFA to meet the Conservator’s priorities and guidance throughout the course of the year in alignment with FHFA’s FAIR values (Fairness, Accountability, Integrity and Respect).
Each entity delivers work products that are high quality, thorough, creative, effective and timely and that consider effects on homeowners, multifamily property owners, renters, the Enterprises, the industry and other stakeholders.
Each entity ensures that diversity, equity, and inclusion remain top priorities in strategic planning, operations and business development.
