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News Release
OFHEO Announces Initiative to Formalize and Enhance OFHEO’s Regulatory Structure

07/19/2000

​Revised 8/30 to include actual Federal Register text

Washington, D.C. – Armando Falcon, Jr., Director of the Office of Federal Housing Enterprise Oversight (OFHEO), financial safety and soundness regulator of Fannie Mae and Freddie Mac (the Enterprises), today sent a notice to the Federal Register that outlines an initiative to formalize and enhance OFHEO's regulatory structure.

​"This ongoing effort will help ensure the safety and soundness of the Enterprises, provide greater transparency and public understanding of the regulatory regime affecting the Enterprises, and provide a clear expression of the regulatory basis for OFHEO action in matters of supervisory concern," Falcon said.

"I believe that greater transparency of OFHEO's operations will increase public awareness of supervisory standards affecting the secondary mortgage market and will enhance the public and the markets' understanding of the financial state of the Enterprises," said Falcon.​

The four broad areas OFHEO will be considering include: Agency Organization and Functions, Corporate Governance, Safety and Soundness, and Compliance Issues (see attached summary and language to be included in the Federal Register).

"This initiative will advance the development of OFHEO's regulatory infrastructure by formally putting in place a full range of regulations necessary for OFHEO to fulfill its statutory mission," said Falcon.​

Stefanie Johnson (202) 649-3030