The Federal Housing Finance Agency (FHFA) has released a draft of its strategic plan for 2022-2026 and is requesting input on the plan from the general public.
The plan is meant to be a “transparent roadmap” that will guide the agency in its role as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac.
According to the draft, the FHFA Strategic Plan names three major objectives that aim to guide the agency in its business: to secure the regulated entities’ safety and soundness, foster housing finance markets that promote equitable access to affordable and sustainable housing, and to responsibly steward FHFA’s infrastructure.
“This Strategic Plan provides a concise and transparent roadmap for FHFA,” said FHFA Acting Director Sandra L. Thompson. “We will promote sustainable and equitable access to mortgage credit nationwide, and protect the safety and soundness of the U.S. housing finance system. We will also foster a high-performing work culture that exemplifies the Agency’s values – while holding ourselves to the same standards of performance and accomplishment that we demand of our regulated entities.”
The plan also names a number of challenges the agency is keeping tabs on that may hinder its mission in the future. Among them are the continuing challenges of the COVID-19 pandemic, a changing interest rate environment, supply-side constraints affecting housing affordability, and persistent climate change.
The FHFA was established in 2008 as a result of the Housing and Economic Recovery Act of 2008 (HERA) with the mission of operating in a safe and sound manner so that they serve as a reliable source of liquidity and funding for housing finance and community investment throughout the economic cycle.