James B. Lockhart, director of the Office of Federal Housing Enterprise Oversight (OFHEO), has released ‘Mortgage Markets and the Enterprises in 2007,’ an annual research paper that reviews developments in the primary and secondary mortgage markets and the financial performance of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.
‘This report is part of OFHEO's ongoing effort to enhance public understanding of the nation's housing finance system,’ states Lockhart. ‘It details the deteriorating housing markets, higher foreclosures and mortgage market turmoil experienced during 2007 and the increasing role Fannie Mae and Freddie Mac are playing in stabilizing the markets.’
The report also provides updated historical data on the activities and performance of the GSEs, federally established loan limits and mortgage interest rates.
The full report is available at OFHEO's Web site.