Housing Enterprises: Investment Authority, Policies, and Practices
GGD-97-137R
Published: Jun 27, 1997. Publicly Released: Jun 27, 1997.
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Highlights
Pursuant to a congressional request, GAO reviewed the non-mortgage investment practices of the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae), focusing on the enterprises': (1) legal authority for making non-mortgage investments and oversight of that authority by the enterprises' regulators; (2) non-mortgage investment policies and practices; and (3) use of non-mortgage investments for arbitrage purposes.
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Topics
ArbitrageCash managementGovernment sponsored enterprisesInvestmentsMortgage programsMunicipal bondsRegulatory agenciesSecuritiesBond marketHousing enterprises