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GSE Reform 101

Fannie Mae and Freddie Mac today present a financial picture with troubling implications for the safety and soundness of the U.S. financial system and the exposure of the American taxpayer. These Government-Sponsored Enterprises (GSEs) have increased their debt five-fold since 1992, from $196 billion to $1.13 trillion in the first quarter of 2001. The GSEs now guarantee more debt and mortgage backed securities (MBS) than all comparable Treasury-guaranteed debt. Use our resources below to find out more...

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Testify empty grapic GSE DEBT — RISKS TO THE FINANCIAL SYSTEM AND THE U.S. TAXPAYER

In 1995, Fannie Mae and Freddie Mac debt totaled $419 billion, today that debt has grown to more than $1.13 trillion. Learn more about the the risks GSE debt presents to the American Taxpayer. Read More
 

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Testify empty grapic FM BORROWING POWER AND BAIL OUT CALCULATORS

Use these calculators to illustrate how much borrowing power you would have if you were Fannie Mae or Freddie Mac, and what the burden would be to each taxpayer if housing GSEs defaulted in the future. Read More
 
Taxpayer Risk News

  • BRIEFING PAPER The Need for Legislation to Ensure Effective Regulation Of Fannie Mae and Freddie Mac  (Feb 11, 2005)
     
  • Statement of FM Policy Focus Chairman J.C. Watts regarding OFHEO’s Report on Freddie Mac’s "Inappropriate conduct and improper management of Earnings"  (Dec 10, 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)
     
  • IRS Probes Tax Issues Raised at Freddie Mac  (Oct 22, 2003)
     
  • The U.S. Mortgage Market, Fannie Mae, and Freddie Mac  (Sep 12, 2003)
     
  • New Regulator Should Be Authorized to Set GSE Capital to Ensure Financial Safety, Stable Mortgage Market   (Sep 09, 2003)
     
  • The Republican Policy Committee: Problems at Freddie Mac and Fannie Mae  (Sep 09, 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)
     
  • 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)
     
  • 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)
     

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