Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities
U.S. Government Accountability Office
Mortgage-Backed Securities Purchase Program
Administering Agency/Entity | Department of the Treasury |
Short Description | Purchased mortgage-backed securities (MBS) issued by the government-sponsored enterprises (enterprises), Fannie Mae and Freddie Mac. Treasury designated independent asset managers as financial agents to undertake the purchase and management of the portfolio of enterprise MBS. |
Primary Purpose | Emergency assistance to housing market or current homeowner |
Type of Housing Supported | Both |
Type of Assistance | Other |
Fiscal Year 2010 Obligations | -$1,114,000,000; represents the expected credit subsidy costs for purchases in fiscal year 2010, worth $29.9 billion. The ultimate cost will not be known until the securities mature or are sold. Treasury’s authority to enter additional obligations under the program expired on December 31, 2009. |