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.

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