In February, the Federal Housing Finance Agency (FHFA) sent to Congress “a strategic plan for the next phase of the conservatorships” of the Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac.

In the plan, the federal regulator and conservator of Fannie Mae and Freddie Mac identified three strategic goals for the “next phase” of the GSEs’ conservatorships:

1. build a new infrastructure for the secondary mortgage market
2. gradually contract the GSEs’ dominant presence in the marketplace while simplifying and shrinking their operations
3. maintain foreclosure prevention activities and credit availability for new and refinanced mortgages