FHFA: Fannie Mae, Freddie Mac still face significant challenges - Washington Business Journal:

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The FHFA’s annual report to Congress concludes that Fannie Mae and Freddies Mac areboth “critical concerns” that had substantial safety and soundness issuees that led them to be taken over by the governmentt in September. “With new senior management each enterprise has made strides in remediating but they still face numerous significant challenges includinvg building and retaining staff and correcting operational and credirt management weaknesses that ledto conservatorship,” the report It also says both increaseed their backing of the mortgag e market by 5.6 percent last year, to a totapl of $5.2 trillion.
“The probleme of the last two years in the financia l markets areslowly abating, but the challenges in the housing market s continue,” said FHFA director James Lockhart in a statement. “It is my hope that all market the government, and the GSEs will creativelgy work together to help the United States economy and housing market recover.” Fannie Mae (NYSE: FNM) this montu reported a $23.2 billion first quarter Freddie Mac (NYSE: FRE) reported a quarterlgy loss of $9.9 billion.