Washington, D.C. – Armando Falcon, Jr., Director of the Office of Federal Housing Enterprise Oversight (OFHEO) today submitted the OFHEO 2004 Report to Congress, detailing regulatory oversight of the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, for the year 2003.
OFHEO’s report on the supervision of Fannie Mae and Freddie Mac in 2003 applies a format similar to the CAMELS methodology used by other federal financial regulators in their supervisory activities. CAMELS is an acronym referring to six components of the condition of the Enterprises that have been evaluated through OFHEO’s supervisory programs. The six areas evaluated were: Capital Adequacy, Asset Quality, Management, Earnings, Liquidity, and Sensitivity to market and interest rate risks. OFHEO has chosen to use the CAMELS framework for reporting the results and conclusions of the annual examinations and other supervisory activities in the report.
The OFHEO annual report also includes detailed charts on the portfolios and capital classifications of the Enterprises.
Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030