Fannie Mae and Freddie Mac in Conservatorship

Description

On September 7, 2008, the Federal Housing Finance Agency (FHFA) placed Fannie Mae and Freddie Mac, two government-sponsored enterprises (GSEs) that play a critical play in the U.S. home mortgage market, in conservatorship. As conservator, the FHFA has full powers to control the assets and operation of the firms. Dividends to common and preferred shareholders are suspended, but the U.S. Treasury has put in place a set of financing agreements to ensure that the GSEs continue to meet their obligations to holders of bonds that they have issued or guaranteed. This means that the U.S. taxpayer now stands behind about ... continued below

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Jickling, Mark September 15, 2008.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 244 times , with 4 in the last month . More information about this report can be viewed below.

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Description

On September 7, 2008, the Federal Housing Finance Agency (FHFA) placed Fannie Mae and Freddie Mac, two government-sponsored enterprises (GSEs) that play a critical play in the U.S. home mortgage market, in conservatorship. As conservator, the FHFA has full powers to control the assets and operation of the firms. Dividends to common and preferred shareholders are suspended, but the U.S. Treasury has put in place a set of financing agreements to ensure that the GSEs continue to meet their obligations to holders of bonds that they have issued or guaranteed. This means that the U.S. taxpayer now stands behind about $5 trillion of GSE debt. This report provides basic information on the GSEs, the government intervention, and the potential cost to the taxpayer.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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Creation Date

  • September 15, 2008

Added to The UNT Digital Library

  • Dec. 11, 2008, 8:32 p.m.

Description Last Updated

  • Feb. 9, 2017, 6:22 p.m.

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Jickling, Mark. Fannie Mae and Freddie Mac in Conservatorship, report, September 15, 2008; Washington D.C.. (digital.library.unt.edu/ark:/67531/metacrs10792/: accessed November 22, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.