2007

House of Representatives passes H.R. 1427 The Federal Housing Finance Reform Act of 2007 by a vote of 313-104 - May 22, 2007.

Director Lockhart testifies before the House Committee on Financial Services, U.S. House of Representatives on legislative proposals on GSE reform  - March 15,  2007.

House Financial Services Committee Passes H.R. 1427, The Federal Housing Finance Reform Act of 2007 by a vote of 45-19 – March 9, 2007.

2006

OFHEO is "PARTed" for the first time.  (Read more about the PART) (Read about OFHEO's assessment).

OFHEO files Notice of Charges against former Fannie Mae Executives Franklin Raines, Timothy Howard and Leanne Spencer - December 18, 2006.

OFHEO directs Fannie Mae and Freddie Mac to follow Nontraditional Mortgage Risk Guidance - December 13, 2006.

OFHEO issues three guidances on November 8, 2006 including: Examination for Corporate Governance, Examination for Compensation Practices, and Examination for Accounting Practices.

OFHEO adopts Strategic Plan for Fiscal Years 2006-2011.

James B. Lockhart III appointed Acting Director of OFHEO by President George W. Bush April 28, 2006 and confirmed by the U.S. Senate as Director of OFHEO - June 15, 2006.

Director Lockhart testifies before U.S. Committee on Banking, Housing, and Urban Affairs - June 15, 2006.

Director Lockhart testifies before U.S. House Capital Markets Subcommittee on findings of OFHEO’s Special Examination of Fannie Mae - June 6, 2006.

OFHEO releases Report of the Special Examination of Fannie Mae and announces along with SEC Chairman Christopher Cox, a record fine of $400 million and Consent Agreement - May 23, 2006.

2005

OFHEO enters into Consent Order with Freddie Mac - September 12, 2005.

OFHEO reaches agreements with Fannie Mae, Freddie Mac on Subordinated Debt, Disclosures - September 02, 2005.

OFHEO Director Armando Falcon, Jr. announces resignation - April 5, 2005.

OFHEO proposes regulation requiring Fannie Mae and Freddie Mac to report mortgage fraud - February 22, 2005.

2004

OFHEO creates new Office of Compliance, Office of Chief Accountant, and appoints Examiner-in-Charge for each Enterprise.

OFHEO directs Fannie Mae Directors to correct accounting treatments, raise capital surplus as required by OFHEO - September 27, 2004.

OFHEO releases Report of Findings-to-Date Special Examination of Fannie Mae - September 22, 2004.

OFHEO proposes new, strengthened corporate governance standards to address weaknesses at the Enterprises – April 7, 2004.

2003

OFHEO Director appoints Special Examination Unit to perform in-depth examination of accounting and management practices at Freddie Mac.

OFHEO report of Freddie Mac results in consent order and $125 million dollar civil money penalty, and dozens of corrective actions in order to improve operations of the company - December 18, 2003.

OFHEO produces report detailing pattern of inappropriate conduct and management of earnings that led to restatement - December 10, 2003.

OFHEO Director initiates in-depth examination of accounting policies and practices at Fannie Mae - July 2003.

OFHEO sponsors its first public symposium: House Prices and the Economy - March 10, 2003.

OFHEO releases report, Systemic Risk: Fannie Mae, Freddie Mac and the Role of OFHEO - February 4, 2003.

2002

OFHEO issues its first capital classification for the Enterprises using both the minimum and risk-based capital standards in December 2002 for the third quarter of 2002.

2001

OFHEO publishes its final regulation for the Enterprises’ risk-based capital standard in September 2001. One-year implementation of the rule begins.

2000

OFHEO undertakes an extensive regulatory infrastructure project to review OFHEO’s regulatory authorities.

OFHEO revamps its House Price Index, a leading government measure of house price appreciation in the U.S.

1999

Armando Falcon, Jr. nominated by President Bill Clinton, sworn in as OFHEO’s second Director - September 29, 1999.

OFHEO publishes its second Notice of Proposed Rulemaking for the risk-based capital standard - April 1999.

1998

OFHEO begins a comprehensive, annual risk-based examination program in January 1998.

1997

Aida Alvarez announces resignation, leaves OFHEO - February.

1996

OFHEO publishes its final regulation on minimum capital requirements in July 1996.

OFHEO begins publishing its quarterly House Price Index - March 1996.

1995

OFHEO issues a Notice of Proposed Rulemaking for the minimum capital standard - June 1995.

OFHEO issues an Advanced Notice of Proposed Rulemaking in February 1995 describing its approach to the development of the stress test to be used in determining the Enterprises’ risk-based capital requirement.

1994

OFHEO adopts interim minimum capital rules and issues its first capital classification for the Enterprises in January 1994 for the quarter ending June 30, 1993.

OFHEO levies first semi-annual assessments on the Enterprises - March 1, 1994.

1993

OFHEO’s first appropriated budget (FY 1994) $10.7 million and 24 employees – September 1993.

Aida Alvarez sworn in as first OFHEO Director and employee June 1, 1993.