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The Office of Federal Housing Enterprise Oversight (OFHEO) was an agency within the Department of Housing and Urban Development of the United States of America.It was charged with ensuring the capital adequacy and financial safety and soundness of two government sponsored enterprises—the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (Freddie Mac).
The Act established the Office of Federal Housing Enterprise Oversight (OFHEO) within the United States Department of Housing and Urban Development (HUD). It also mandated that HUD set specific goals for the government-sponsored enterprises Fannie Mae and Freddie Mac, with regard to low income and underserved housing areas. [1] [2
The Federal Housing Finance Agency (FHFA) is an independent federal agency in the United States created as the successor regulatory agency of the Federal Housing Finance Board (FHFB), the Office of Federal Housing Enterprise Oversight (OFHEO), and the U.S. Department of Housing and Urban Development government-sponsored enterprise mission team, [3] absorbing the powers and regulatory authority ...
But even as late as as the end of 2008, the Office of Federal Housing Enterprise Oversight, Fannie Mae's regulator, declared that the GSEs were in full compliance with their capital requirements ...
In 2005, the Federal Housing Enterprise Regulatory Reform Act, [21] sponsored by Senator Chuck Hagel (R-NE) and co-sponsored by Senators Elizabeth Dole (R-NC), John McCain (R-AZ) and John Sununu (R-NH), [22] would have increased government oversight of loans given by Fannie Mae and Freddie Mac. Like the 2003 bill, it also died in the Senate ...
1992 – Federal Housing Enterprises' Financial Safety and Soundness Act of 1992 creates HUD Office of Federal Housing Enterprise Oversight to provide public oversight of FNMA and Federal Home Loan Mortgage Corporation (Freddie Mac). 1993 – Henry G. Cisneros is named Secretary of HUD by President William J. Clinton, January 22.
1992: Federal Housing Enterprises Financial Safety and Soundness Act of 1992 required Fannie Mae and Freddie Mac to devote a percentage of their lending to support affordable housing, increasing their pooling and selling of such loans as securities; Office of Federal Housing Enterprise Oversight (OFHEO) created to oversee them [38] [39]
Stephen Douglas Johnson (1963–2003), also known as Steve Johnson, was a Washington, D.C. banking lawyer; a chief lobbyist for the banking and insurance industries; U.S. House Chief Counsel for Financial Institutions and Consumer Credit from February 1995 to November 1997, the heyday of the Gingrich Revolution; and Bush Administration Senior Advisor to the Office of Federal Housing Enterprise ...