FHFA, Treasury Modify Fannie Mae, Freddie Mac Conservatorship Agreements

Housing Finance
Published

The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury on Jan. 3 announced amendments to the Preferred Stock Purchase Agreements that govern the conservatorships of Fannie Mae and Freddie Mac (the Enterprises).

The amendments set out a process meant to ensure a smooth transition from conservatorship and reassure stakeholders that the Enterprises’ eventual release from conservatorship will minimize disruption to the housing and financial markets.

The updated agreements between FHFA and Treasury require the Enterprises to meet the capital requirements previously established by FHFA and restore the right of Treasury to consent to the termination of their conservatorships.

Additionally, FHFA and Treasury have agreed that FHFA must seek public input on conservatorship termination options and potential effects of termination on the housing market to present to Treasury before requesting consent.

In a press release, FHFA said that these changes provide Fannie Mae and Freddie Mac with more flexibility to better support access to homeownership and rental housing.

View the letter agreements.

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Economics

Oct 08, 2025

How Do Median Square-Foot Prices Differ by Region?

Median square-foot prices for new single-family detached homes started in 2024 grew modestly, according to NAHB’s analysis of the latest Survey of Construction data. See how they differ by region.

Member Benefits | Membership

Oct 07, 2025

Tax Incentives That Multiply the Benefits of NAHB's Vehicle Savings Programs

Combining the benefits of Section 179 tax deductions with the discounts offered through the NAHB Member Savings Program can be a game-changer for business owners.

View all

Latest Economic News

Economics

Oct 07, 2025

Minority-Owned Residential Building Firms Continue to Rise

The share of minority-owned new residential builders and remodelers has more than doubled since the Great Recession, with noticeable gains from 2017 to 2022. Nevertheless, when compared to the overall U.S. population, minority-owned firms continue to be underrepresented within both housing sectors.

Economics

Oct 06, 2025

Shorter Apartment Construction Time in 2024

The average time needed to complete construction of a multifamily building after obtaining authorization edged down in 2024, according to the 2024 Survey of Construction (SOC) from the Census Bureau. On average, it took 19.6 months from permit to completion, about 0.3 months shorter than in 2023.

Economics

Oct 03, 2025

Supply-Side Cost Pressures Drove Housing as Inflation Leader in 2024

Though the rate of inflation peaked in June 2022, consumer prices continued to increase throughout 2023 and 2024 as inflation drove further price growth, according to 2024 CPI review from the Bureau of Labor Statistics.