Number: RL32230
Title: Regulation of Fannie Mae and Freddie Mac Under the Federal Housing Enterprises Financial Safety and Soundness Act: A Legal Analysis
Authors: Nathan Brooks, American Law Division 
Abstract: In 2002, an auditor found inaccuracies in Freddie Mac's financial statements, which ultimately led to the enterprise restating three years of earnings. In the wake of the resulting scandal, Congress has expressed an interest in tightening the oversight of Fannie Mae and Freddie Mac. Currently, federal oversight of Fannie Mae and Freddie Mac is governed by the Federal Housing Enterprises Safety and Soundness Act of 1992. The purpose of this report is to analyze the oversight provisions of this Act.
Pages: 11
Date: Updated February 13, 2004