Authors:

​​​​​Xiangdong Chen, An​drew Davenport, Sherman Davis, Caroline Hopkins, Charles Hu, Xun Liu, Alexandra Marr, Yan Sussman,
​Andrew Varrieur, Bojun Yan, Xiaoming Zhou

For Further Information Contact:​

​Charles Hu, Supervisory Financial Analyst, Office of Capital Policy, (202) 649-3167, xiaoqiang.hu@fhfa.gov;
Sherman Davis, Principal Financial Analyst, Office of Capital Policy, (202) 649-3502, sherman.davis@fhfa.gov.

Author:

​Alexander Bogin, Senior Economist; Nataliya Polkovnichenko, Senior Economist; William Doerner, Senior Economist​

Author:

​​Saty Patrabansh, Senior Economist​

Author:

Alex Bogin, Senior Economist; Stephen Bruestle, Lecturer; William M. Doerner, Senior  ​Economist

Author:

​Andrew Leventis

Author:

​Saty Patrabansh, Andrew Leventis, and Nayantara Hensel

Author:

Robert M. Dunsky*, Xiaoming Zhou, Michael Kane, Ming Chow, Charles Hu, Andrew Varrieur 

* Lead Author

Author:

​Saty Patrabansh, Senior Economist; William M. Doerner, Senior Economist; Samuel Asin, Economist​

Author:

Scott Smith, Associate Director, Capital Policy
Debra Fuller, Principal Financial Engineer/Economist
Alex Bogin, Economist
Nataliya Polkovnichenko, Economist
Jesse Weiher​, Senior Economist

I. Executive Summary

Fannie Mae and Freddie Mac – the two government-sponsored enterprises (GSEs) chartered by the federal government to support the secondary market for residential mortgages – provide considerable benefits to the housing sector of the U.S. economy. The Enterprises support housing activity by supplying ample, low-cost liquidity to the primary mortgage market. Fannie Mae and Freddie Mac are in strong financial condition today, and the possibility of either Enterprise failing or contributing to a financial crisis is remote.