OFHEO Releases Annual Report to Congress

June 15, 2006

WASHINGTON, D.C. — James B. Lockhart, Acting Director of the Office of Federal Housing Enterprise Oversight (OFHEO) today submitted the OFHEO 2006 Report to Congress, detailing examination conclusions and regulatory oversight of the government sponsored enterprises (GSEs), Fannie Mae and Freddie Mac for the year 2005.

“The annual examinations of both Enterprises state that progress was made in 2005, but that further work and several years are needed to fully achieve safe and sound practices, ” said Lockhart.

The report also includes information regarding the financial performance of the GSEs, OFHEO supervisory actions, remediation efforts, executive compensation, OFHEO research and publications, and historical data tables.

Contact ALTA at 202-296-3671 or communications@alta.org.

North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.