WASHINGTON — The combined debt of the GSEs now exceeds the total debt of the United States, the Federal Housing Finance Agency said in its 2008 Performance and Accountability Report.
As of June, the GSEs' combined debt and obligations totaled $6.6 trillion-exceeding the publicly held debt of the United States by $1.3 trillion.
The GSEs also purchased or guaranteed nearly 87% of new mortgages for the quarter ending June 30.
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The FHFA pointed out in the report that it has successfully integrated the Federal Housing Finance Board, the Office of Federal Housing Enterprise Oversight and staff from the Department of Housing and Urban Development.
The FHFA also said in the 180-page report that OFHEO "substantially achieved" its major performance goals for the fiscal year which ended Sept. 30, with its primary duty being ensuring the safety and soundness of Fannie Mae and Freddie Mac.
An outside audit found no material weaknesses in the finance board's control structure, according to the report.
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