Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities

U.S. Government Accountability Office

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.