Title:
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A Resolution concerning Freddie Mac and Fannie Mae in the National Capital region for the purpose of expressing the County Council’s support for continued charitable giving by Freddie Mac and Fannie Mae as part of the Federal Housing Finance Agency.
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Title
A Resolution concerning Freddie Mac and Fannie Mae in the National Capital region for the purpose of expressing the County Council’s support for continued charitable giving by Freddie Mac and Fannie Mae as part of the Federal Housing Finance Agency.
Background
In September 2008 the Federal Housing Finance Agency took over operations and oversight of Freddie Mac and Fannie Mae as part of the Federal government’s response to the national housing crisis. As part of the review of the agency’s operations, are their charitable giving programs in the National Capital region, which is estimated to have donated $47 million in 2007. This resolution expresses the support of the County Council for the continuation of the charitable donation programs by the Federal Housing Finance Agency during its operation of the two organizations.