FHFA’s Calabria Calls for Industry Feedback

first_imgHome / Daily Dose / FHFA’s Calabria Calls for Industry Feedback  Print This Post 2020-09-22 Christina Hughes Babb Share Save Amid this year’s challenges related to the COVID-19 pandemic and the related economic fallout, one of the more significant industry stories of 2020 has been the FHFA’s ongoing push to bring Fannie Mae and Freddie Mac out from under the conservatorship they were placed in during the previous financial crisis. Now FHFA Director Mark Calabria has called on the industry itself for feedback relating to the plan for the future of the GSEs.The FHFA has published its strategic plan for fiscal years 2021-2024, which lays out the Agency’s framework of goals for the next few years. Unsurprisingly, one primary focus is FHFA’s move toward “responsibly” ending Fannie Mae and Freddie Mac’s conservatorships.You can read the full Strategic Plan for fiscal years 2021-2024  in full by clicking here.In his introduction to the plan, Calabria said that “The goals and milestones laid out in the plan ensure that that FHFA’s supervision is strong, well executed and fulfills all statutory requirements, including ending the conservatorships.”In addition to the GSEs’ obligation to prepare for autonomy, the FHFA must plan for its own “post-conservatorship role as a world-class regulator,” Calabria said.The agency, he said, already has acted on some of the aspirations detailed in the newly published plan. For example it recently created the Office of Equal Opportunity and Fairness.He also applauded the Agency’s capable handling of the COVID-19 crisis.”I am proud of what FHFA has done, working with the regulated entities, to respond to the pandemic,” he said. “Starting even before the national emergency declaration, FHFA had begun taking actions to support borrowers and renters and ensure the proper functioning of the mortgage market.”The plan establishes three strategic goals for the agency, as well as several related objectives within each goal:Strategic Goal 1: Ensure safe and sound regulated entities through world-class supervisionObjective 1.1: Ensure the safety and soundness of the regulated entities through risk-focused supervisionObjective 1.2: Develop and maintain a world-class supervision programObjective 1.3: Responsibly end the conservatorships of the Enterprises Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Position the Agency as a model of operational excellence by strengthening the workforce and infrastructureObjective 3.1: Cultivate a high-performing, diverse, accountable, and engaged workforce.Objective 3.2: Ensure sound governance and good stewardship of Agency resourcesObjective 3.3: Deliver information technology resources and systems that support the Agency’s mission and safeguard the Agency’s resources. Foster competitive, liquid, efficient, and resilient (CLEAR) national housing finance marketsObjective 2.1: Institute reforms at the regulated entities that serve to foster CLEAR national housing finance marketsObjective 2.2: Ensure that the regulated entities fulfill their statutory missions to support affordable housing, community development, and diversity and inclusion requirements.Objective 2.3: Position FHFA as a leader in providing the public with information and analysis on the state of the housing finance markets and related matters FHFA’s Calabria Calls for Industry Feedback in Daily Dose, Featured, Government, News Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Christina Hughes Babb Previous: How Recent Natural Disasters Challenged the Housing Market Next: Forbearance Trends Hit a 5-Month Milestone Change, of course, is rarely without obstacle. The FHFA plan also outlines potential challenges that may impair progress toward these goals, including the safety and soundness of the regulated entities, the legislative and regulatory environment, and FHFA’s workforce and infrastructure.Regardless of what the months ahead hold, these changes at the FHFA stand to greatly impact the housing market in the years to come. Industry stakeholders can submit feedback on the plan to FHFA.gov through Monday, October 5. Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Subscribe September 22, 2020 17,593 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img

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