Fannie and Freddie Open Records Act of 2017

Bill 115 hr 1694, also known as the Fannie and Freddie Open Records Act of 2017, is a piece of legislation that aims to increase transparency and accountability within the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

The bill requires Fannie Mae and Freddie Mac to comply with the Freedom of Information Act (FOIA), which allows for the public disclosure of government records. This means that the two government-sponsored enterprises must provide access to their records and information upon request, unless the information falls under certain exemptions outlined in the FOIA.

Additionally, the bill requires Fannie Mae and Freddie Mac to establish procedures for handling FOIA requests, including designating a FOIA officer to oversee the process. This is intended to streamline the process and ensure that requests are handled in a timely and efficient manner. Overall, the Fannie and Freddie Open Records Act of 2017 seeks to promote transparency and accountability within Fannie Mae and Freddie Mac by ensuring that the public has access to information about their operations and decision-making processes.