WASHINGTON The Office of Federal Housing Enterprise Oversight sent its strategic plan for the fiscal years 2000 to 2005 to Congress on Friday.
The plan, which is mandated by the Government Performance and Results Act of 1993, details mission, goals, and objectives for the next five years and provides a blueprint for achieving them. The plan describes three regulatory objectives: to ensure that Fannie Mae and Freddie Mac are adequately capitalized, to hold safety and soundness examinations of the companies, and to perform research and analysis on emerging matters related to Fannie and Freddie.
On Aug. 1 in the Federal Register, the agency called for public comment on its strategic plan, which it was drafting at the time but had not released in any form. It issued a draft plan Aug. 30 and requested comment on that until Sept. 13.
We appreciate all of the comments we have received, and have incorporated many of them, said Armando Falcon, the agencys director. OFHEO has many challenges ahead, and we look forward to working with all of our stakeholders to implement this plan, he said.
The independent agency was established within the Department of Housing and Urban Development by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992.
Its primary mission is ensuring the capital adequacy and financial safety and soundness of Fannie and Freddie.