On February 21, FHFA sent to Congress a strategic plan for the next phase of the Fannie Mae and Freddie Mac conservatorships.  In the plan, FHFA identified three goals to guide the direction to be taken by the conservatorships: (i) build a new infrastructure for the secondary mortgage market; (ii) gradually contract the GSEs' market presence and shift mortgage credit risk to private investors; and (iii) maintain foreclosure prevention, loss mitigation activities, and credit availability for new and refinanced mortgages.  FHFA Strategic Plan.