Housing Government Sponsored Enterprise Programs
Mission Statement
To provide stability to the financial markets and promote mortgage affordability while at
the same time protecting the taxpayer, Treasury has implemented three programs with
respect to the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac,
and the Federal Home Loan Banks (FHLBs). These programs include Preferred Stock
Purchase Agreements (PSPAs) with Fannie Mae and Freddie Mac, a Mortgage-Backed
Securities (MBS) Purchase Program limited to such securities issued by Fannie Mae and
Freddie Mac, and a Treasury credit facility for all three entities.
Program Summary by Budget Activity
(Dollars in Thousands)
FY 2008
FY 2009
FY 2010
Housing Government
Sponsored Enterprise
Programs
Activity
Actual
Estimated
Estimated
$ Change
% Change
Preferred Stock Purchase
Agreements
Obligations
$0
$105,900,000
$41,293,000
($64,607,000)
-61.01%
GSE MBS Purchase Program
Securities
Purchased
$5,000,000
$249,000,000
$60,000,000
($189,000,000)
-75.90%
GSE Credit Facility
Loan
Levels
$0
$0
$0
$0
0%
FY 2010 Priorities
• To promote stability in financial markets.
• To improve the availability of mortgage credit to American homebuyers.
• To ensure investor confidence in the GSEs.
Table of Contents
Section 1 – Purpose ........................................................................................................... 1
1A-Description of Bureau Vision and Priorities ........................................................ 1
1B – Program History and Future Outlook ............................................................... 2
Section 2 – Budget Adjustments and Appropriation Language................................... 6
2.1 Summary of Appropriation Highlights................................................................. 6
2.2 Summary of Mandatory Receipts ......................................................................... 6
2.3 Financing Accounts- Non-Budgetary Sum