Structured Finance Association Statement on Treasury Decision on Fannie Mae and Freddie Mac

The Structured Finance Association (SFA) today released the following statement after the U.S. Department of Treasury led by Secretary Steven T. Mnuchin announced it will not restructure taxpayer investments in government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

“Overall, we are pleased that Secretary Mnuchin stood by his pledge against a calendar-driven release from conservatorship for Fannie Mae and Freddie Mac and recognized the importance of transparent, accountable, and fully paid-for public support. We are grateful for the work he and so many government officials have done over the past 12 years to transition our nation’s housing finance system to more stable footing,” said Michael Bright, CEO of the Structured Finance Association. “Clearly, however, this work is far from done, and Congress has a critical role to play. The agency mortgage-backed securities (MBS) market is the second largest fixed-income market in the world, and hundreds of millions of Americans rely on a mortgage to keep a roof over their heads. We sincerely hope that the incoming Biden administration and leaders in the next Congress will undertake the task of building a 21st Century housing finance system that can responsibly serve all American communities, and we look forward to working with them on this task.”