Bancorp, took over Freddie Mac. Related legislation On May 8, 2013, Representative Scott Garrett introduced the Budget and Accounting Transparency Act of 2014 (H.R. 1872; 113th Congress) into the United States House of Representatives during the 113th United States Congress. The bill, if it were passed, would modify the budgetary treatment of federal credit programs, such as Fannie Mae and Freddie Mac. The bill would require that the cost of direct loans or loan guarantees be recognized in the federal budget on a fair-value basis using guidelines set forth by the Financial Accounting Standards Board. The changes made by the bill would mean that Fannie Mae and Freddie Mac were counted on the budget instead of considered separately and would mean that the debt of those two programs would be included in the national debt. These programs themselves would not be changed, but how they are accounted for in the United States federal budget would be. The goal of the bill is to improve the accuracy of how some programs are accounted for in the federal budget. See also Agency Securities Maxine B. Baker – President and CEO of the Freddie Mac Foundation, 1997–present Canada Mortgage and Housing Corporation Derivative (finance) Fannie Mae Farm Credit System Farmer Mac Ginnie Mae Government sponsored enterprise David Kellermann – late CFO of Freddie Mac Mortgage law Mortgage loan Sallie Mae Securitization USA Funds References Further reading External links Affordable housing Mortgage industry of the United States Mortgage industry companies of the United States American companies established in 1970 Financial services companies established in 1970 Companies formerly listed on the New York Stock Exchange United States government-sponsored enterprises 1970 in economics Companies traded over-the-counter in the United States Companies based in McLean, Virginia