With the current rules and regulations today, there is no effective oversight of the GSEs. FM Policy Focus is committed to establishing a strong single regulator to ensure that the GSEs comply with their charters and fulfill their mission in a safe and sound manner.

View our specific resources related to oversight below and make sure to sign up for our e-mail list to be notified when new content is added to the site.

• Oxley-Baker-Ney Dear Colleague letter (9-20-05)  (Sep 29, 2005)
   
• Briefing Paper-- The Need for New Legislation To Ensure Effective Regulation of Fannie Mae and Freddie Mac  (Feb 11, 2005)
   
• Letter to Alphonso Jackson, Secretary of the Department of Housing and Urban Development from FMPF Chairman JC Watts  (Jun 14, 2004)
   
• Letter to Mr. Alfred M. Pollard, General Counsel, Office of Federal Housing Enterprise Oversight  (Jun 11, 2004)
   
• Greenspan Agrees: Time To Rein in Fannie and Freddie  (Apr 01, 2004)
   
• Essential Elements of GSE Regulatory Reform  (Mar 15, 2004)
   
• Statement of FM Policy Focus Chairman J.C. Watts regarding Freddie Mac’s Restatement  (Nov 21, 2003)
   
• Statement of FM Policy Focus Chairman J.C. Watts on Wall Street Journal story regarding Freddie Mac’s possible $1 billion overstatement  (Nov 20, 2003)
   
• Remarks at the Conference of State Bank Supervisors, State Banking Summit and Leadership Conference by Dr. N. Gregory Mankiw, Chairman, Council of Economic Advisers  (Nov 06, 2003)
   
• CBO Testimony on the Regulation of the Housing GSEs  (Oct 23, 2003)
   
• Testimony of John W. Snow Secretary of the Treasury Before the Committee on Banking, Housing, and Urban Affairs United States Senate   (Oct 16, 2003)
   
• Statement of Mel Martizez before the United States Senate Committee on Banking, Housing, and Urban Affairs  (Oct 16, 2003)
   
• Wanted: A Loan Ranger   (Oct 09, 2003)
   
• FM Policy Focus Stands with Bush Administration for Strong, Single GSE Regulator at Treasury  (Oct 07, 2003)
   
• National Taxpayers Union Letter to Chairman Michael Oxley, Committe on Financial Services, U.S. House of Representatives   (Oct 07, 2003)
   
• FM Policy Focus Letter to Committee on Financial Services Chairman Michael G. Oxley, October 6, 2003  (Oct 06, 2003)
   
• FM Policy Focus Letter to Committee on Financial Services Leadership, U.S. House of Representatives, September 29, 2003  (Sep 29, 2003)
   
• Framework for GSE Regulatory Reform  (Sep 24, 2003)
   
• Committee to Hold Hearing on Bill to Reform Regulation of Housing GSEs  (Sep 23, 2003)
   
• New Report Shows GSEs Still Fail First-Time Homebuyers and Lag Private Market  (Sep 23, 2003)
   
• Financial Services Committee to Hold Hearing on Legislation to Reform Regulation of Fannie Mae and Freddie Mac  (Sep 11, 2003)
   
• Testimony of John W. Snow, Secretary of Treasury before the Committee on Financial Services, US House of Representatives  (Sep 10, 2003)
   
• Statement of Mel Martinez, Secretary, Department of Housing and Urban Development before the Committee on Financial Services, US House of Representatives  (Sep 10, 2003)
   
• Shelby-Oxley Announce Commitment to Legislate GSEs, Outline Bipartisan Process  (Sep 10, 2003)
   
• New Regulator Should Be Authorized to Set GSE Capital to Ensure Financial Safety, Stable Mortgage Market   (Sep 09, 2003)
   
• Legislation to Reform GSE Regulation Must Address Mission Creep  (Sep 08, 2003)
   
• FM Policy Focus Testifies Before Senate Subcommittee that Fannie, Freddie Need Single Regulator and Greater Oversight  (Jul 21, 2003)
   
• Testimony of W. Michael House, Executive Director FM Policy Focus Before the Senate Governmental Affairs Committee Subcommittee on Financial Management, the Budget and International Security Hearing   (Jul 21, 2003)
   
• Statement by FM Policy Focus Chairman J.C. Watts regarding GSE Legislation  (Jun 24, 2003)
   
• Capital Markets Subcommittee to Examine Need for GSE Regulatory Reform and Modernization  (Jun 24, 2003)
   
• FM Policy Focus Telephone Press Conference Announcing New Policy Initiative  (May 19, 2003)
   
• FM Watch Thanks Greenspan for Agreeing with Its Long-standing Request for More GSE Capital   (Apr 25, 2003)
   
• St. Louis Fed President on Risk and the GSEs  (Mar 11, 2003)
   
• FM Watch Urges HUD to take Steps to Protect Nation’s Housing Markets from GSEs   (Feb 20, 2003)
   
• FM Watch Asks OMB for Comprehensive Review of RBC Rule  (Feb 11, 2003)
   
• Letter to OMB Requests Complete Review of RBC Standard  (Feb 10, 2003)
   
• Statement of FM Watch Director Mike House on the Announcement of a New OFHEO Director   (Feb 05, 2003)
   
• FM Watch asks Shelby and Oxley for Review of Fannie Mae and Freddie Mac   (Jan 30, 2003)
   
• Letter from FM Watch to Senator Richard Shelby Asks for Review of GSE Risk  (Jan 30, 2003)
   
• FM Watch Asks Federal Reserve for Support
  in Making Sure GSEs Have to Play by the Same Rules as Banks  (Jan 29, 2003)
   
• FM Watch Letter to Congressman Michael Oxley Asks for Review of GSE Risks  (Jan 29, 2003)
   
• Fannie Mae’s 4th Quarter Earnings Reveal Their High Risk Exposure
  and the Importance of GAAP Accounting  (Jan 16, 2003)
   
• FM Watch’s October 28th Comment Letter asks OFHEO
  to Withdraw its Rule for Further Consideration  (Oct 30, 2002)
   
• FM Watch Letter to OHFEO on Risk Based Capital Rule  (Oct 29, 2002)
   
• OFHEO Announces GSEs Meet Capital Rule – Flawed Test Provides Taxpayers Cold Comfort  (Sep 30, 2002)
   
• Treasury Markets Falling to 40 year Lows --The GSEs’ Immense Size is Moving Markets   (Sep 25, 2002)
   
• Letter to OFHEO on Proposed Revision to Risk-Based Capital Rule  (Sep 24, 2002)
   
• Letter from FM Watch to OMB on Proposed Revisions to Risk-Based Capital Rule  (Sep 24, 2002)
   
• Loan Refinancings Put the Squeeze On Fannie Mae   (Sep 23, 2002)
   
• New Report Shows GSEs’ Advertising is More Fiction than Fact-  (Aug 01, 2002)
   
• Balancing AFannie Mae Projects a Happy Image, but as Its Debt Grows Bigger and Its Executives Get Richer, Should Taxpayers Start to Worry?  (Aug 01, 2002)
   
• New GSE Risk-Based Capital Rule   (Jun 27, 2002)
   
• OMB Urges Weighing of Tighter Rules for Fannie, Freddie  (Jun 05, 2002)
   
• Guess Who Doesn't Back Fannie, Freddie And Farmer  (May 24, 2002)
   
• FM Watch Files Comments with OFHEO on GSE Corporate Governance Rules  (Dec 13, 2001)
   
• Letter to HUD Secretary Martinez  (Dec 11, 2001)
   
• 25 Independent Studies Show GSEs Failing Mission  (Dec 01, 2001)
   
• Neither Fish Nor Fowl: An Overview of the Big Three GSEs  (Nov 26, 2001)
   
• MBA Lists 'Charter Violating' GSE Activities  (Oct 18, 2001)
   
• Fannie Mae and Freddie Mac Fall Short On Affordable Housing  (Jul 25, 2001)
   
• FM Watch Letter to Senate Appropriators on Efforts to Further Delay the OFHEO Risk-based Capital Rule  (Jul 18, 2001)
   
• GSEs No Longer   (Jun 19, 2001)
   
• FM Watch Urges Basel Committee on Banking Supervision to Assess Actual Financial Risk of Fannie and Freddie  (Jun 12, 2001)
   
• New Freddie Mac Acquisition Raises Serious Public Policy Questions for Congress and the GSEs’ Current Regulators  (Apr 20, 2001)
   
• FM Watch Statement Regarding Chairman Baker’s Secondary Mortgage Market Enterprises Regulatory Improvement Act  (Apr 04, 2001)
   
• Summary of H.R. 1409 - "Secondary Mortgage Market Enterprises Regulatory Improvement Act"  (Apr 04, 2001)
   
• FM Watch Letter to the Department of Housing and Urban Development  (Mar 29, 2001)
   
• New FM Watch Report Outlines How GSE Mission Creep Threatens American Consumers  (Mar 16, 2001)