PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Financial Services.
Congressional Research Service
Version 00 · Introduced in House · Feb 11, 2025
End of GSE Conservatorship Preparation Act of 2025
This bill requires the Department of the Treasury to report to Congress on the status of proposals to establish a timeline and process (1) to end the conservatorship of Fannie Mae and Freddie Mac by the Federal Housing Finance Agency, and (2) for Treasury to resolve its investment in Fannie Mae and Freddie Mac. (As a result of the financial crisis, Fannie Mae and Freddie Mac entered into a conservatorship in 2008 with the Federal Housing Finance Agency. As part of this agreement, Treasury provided funds to support the solvency of Fannie Mae and Freddie Mac.)
People & committees
Rep. Ogles, Andrew [R-TN-5] · R–TN
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We also preserved the text version used in the PlainBill explanation below.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 26, 2026. Consult Congress.gov for the current record.
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PlainBill explanation
Based on the full Introduced in House · 2025-02-11 text. This explanation has not received human editorial review. This overview describes the proposal’s major provisions; it does not establish what its real-world effects would be.
This bill would require Treasury to report to Congress on two proposals concerning the end of conservatorships—government supervision—of the Federal National Mortgage Association and Federal Home Loan Mortgage Corporation. Treasury would have to provide completed proposals and finish any that remain incomplete. The bill would impose planning and reporting requirements; it would not itself end either conservatorship.
2. Proposals for termination of conservatorships
(1) the Department of the Treasury completed the proposal described in article IX of the Letter Agreement to the Amended and Restated Preferred Stock Purchase Agreement between the United States Department of the Treasury and the Federal National Mortgage Association, dated January 14, 2021, and the proposal described in article IX of the Letter Agreement to the Amended and Restated Preferred Stock Purchase Agreement between the United States Department of the Treasury and the Federal Home Loan Mortgage Corporation, dated January 14, 2021; and (2) either or both of such proposals were completed and, if so, includes such completed proposal or proposals.
(b) Proposals If the report required under subsection (a) indicates that either or both of such proposals were not completed, the Secretary of the Treasury shall— (1) include in such report the latest incomplete draft or version, if any, of such incomplete proposal or proposals; and (2) not later than 90 days after the date of the enactment of this Act, complete and submit such proposal or proposals to the committees identified in subsection (a).
Section 1 would name the bill the End of GSE Conservatorship Preparation Act of 2025.
1. Short title This Act may be cited as the End of GSE Conservatorship Preparation Act of 2025.
Within 30 days after enactment, the Treasury Secretary would have to submit a report to the House Financial Services Committee and the Senate Banking, Housing, and Urban Affairs Committee.
(a) Report Not later than 30 days after the date of the enactment of this Act, the Secretary of the Treasury shall submit a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate
The report would have to state whether Treasury completed the proposals described in article IX of the two January 14, 2021 letter agreements concerning preferred stock purchases. It would have to include whichever proposals were completed. The bill identifies the required proposals by reference to those agreements rather than reproducing their requirements.
that identifies whether— (1) the Department of the Treasury completed the proposal described in article IX of the Letter Agreement to the Amended and Restated Preferred Stock Purchase Agreement between the United States Department of the Treasury and the Federal National Mortgage Association, dated January 14, 2021, and the proposal described in article IX of the Letter Agreement to the Amended and Restated Preferred Stock Purchase Agreement between the United States Department of the Treasury and the Federal Home Loan Mortgage Corporation, dated January 14, 2021; and (2) either or both of such proposals were completed and, if so, includes such completed proposal or proposals.
If either proposal remained incomplete, Treasury would have to include its latest draft or version in the report, if one existed. The bill would not require an existing draft where none was available.
(b) Proposals If the report required under subsection (a) indicates that either or both of such proposals were not completed, the Secretary of the Treasury shall— (1) include in such report the latest incomplete draft or version, if any, of such incomplete proposal or proposals;
If the report identified an incomplete proposal, Treasury would have to complete it and submit it to the same committees within 90 days after enactment. That deadline would run from enactment, not from submission of the initial report.
(b) Proposals If the report required under subsection (a) indicates that either or both of such proposals were not completed, the Secretary of the Treasury shall—
(2) not later than 90 days after the date of the enactment of this Act, complete and submit such proposal or proposals to the committees identified in subsection (a).
The supplied official-actions snapshot, updated August 26, 2026, records introduction in the House and referral to the House Committee on Financial Services on February 11, 2025.
Source snapshot updated 2026-08-26T16:27:38Z. 2025-02-11: Referred to the House Committee on Financial Services. 2025-02-11: Introduced in House
A closer look
Reviewed version: Introduced in House · 2025-02-11. These findings describe provisions and who may benefit; they are not judgments of waste, corruption, or motive.
This review covers the supplied bill text. “None identified” does not rule out provisions in later versions or accompanying reports and disclosures.
Provisions outside the bill’s main subject, or policy changes attached to appropriations.
None identified in the reviewed text
No unrelated provision or appropriations policy rider was identified in the complete supplied introduced text. This conclusion is limited to that version and does not establish the contents of other versions or accompanying materials.
Spending directed to particular recipients or places outside ordinary competitive or formula-based allocation.
None identified in the reviewed text
No congressionally directed spending for particular recipients or places was identified in the complete supplied introduced text. This conclusion is limited to that version; earmark disclosures and committee or conference materials were not supplied.
Narrow exceptions, exemptions, or preferential treatment that warrant a closer look.
None identified in the reviewed text
No materially narrow carve-out, special exemption, or preferential treatment was identified in the complete supplied introduced text. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials.
Full text preserved for this analysis. Legislative record snapshot: Aug 26, 2026. How PlainBill uses AI