|FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 05/07/2015|
2015 Market Share
We remained the largest single issuer of mortgage-related securities in the secondary market during the first quarter of 2015, with an estimated market share of new single-family mortgage-related securities issuances of 40%, unchanged from the fourth quarter of 2014 and down slightly from 41% in the first quarter of 2014.
We remained a continuous source of liquidity in the multifamily market in the first quarter of 2015. We owned or guaranteed approximately 19% of the outstanding debt on multifamily properties as of December 31, 2014 (the latest date for which information is available).
Serving Customer Needs and Improving Our Business Efficiency
We are undertaking various initiatives to better serve our customers’ needs and improve our business efficiency. We are committed to providing our lender partners with the products, services and tools they need to serve the market efficiently and profitably. To further this commitment, we are focused on revising and clarifying our representation and warranty framework to reduce lenders’ repurchase risk, and making our customers’ interactions with us simpler and more efficient.
As part of these initiatives, in January 2015, we made Collateral UnderwriterTM freely available to lenders, giving them access to the same appraisal review tool we use so that they can address potential appraisal issues prior to delivering a loan to us. In April 2015, we announced that Collateral Underwriter had been integrated with Desktop Underwriter, which we believe will enhance our lenders’ risk management and underwriting capabilities. See “Risk Management—Credit Risk Management—Single-Family Mortgage Credit Risk Management—Single-Family Acquisition and Servicing Policies and Underwriting and Servicing Standards” for more information on Desktop Underwriter.
See “Business—Executive Summary—Serving Customer Needs and Improving Our Business Efficiency” in our 2014 Form 10-K for a discussion of other actions we have taken and are taking to better serve our customer needs and improve our business efficiency.
Helping to Build a Sustainable Housing Finance System
We continue to invest significant resources towards helping to build a safer and sustainable housing finance system, primarily through pursuing the strategic goals identified by our conservator. FHFA’s current strategic goals are to: