Fannie Mae and Freddie Mac each received high marks on a relatively easy performance test from the Federal Housing Finance Agency in the GSEs’ compliance with the FHFA’s Conservatorship Scorecard, both companies revealed in their fourth quarter 2012 financial filings with the Securities and Exchange Commission. In March 2012, the FHFA developed, with input from GSE management, the boards of directors and the companies’ compensation committees, a set of performance objectives and directed each firm to implement them. The three strategic goals of the scorecard called for the GSEs to build a new securitization infrastructure, contract Fannie’s and Freddie’s dominant marketplace presence and maintain foreclosure prevention activities and credit availability for new and refinance mortgages.