After the Housing and Economic Recovery Act of 2008, Congress established which entity for oversight of the GSEs?

The establishment of the Federal Housing Finance Agency (FHFA) is significant for overseeing government-sponsored enterprises (GSEs) such as Fannie Mae (FNMA) and Freddie Mac (FHLMC) following the Housing and Economic Recovery Act of 2008. The FHFA was created specifically to provide effective oversight and regulation of these entities, which play a crucial role in the housing market by facilitating mortgage financing and ensuring liquidity.

The FHFA's responsibilities include enforcing safety and soundness regulations, evaluating the GSEs' financial health, and ensuring that they serve their public mission of supporting affordable housing. By consolidating the regulatory powers under the FHFA, Congress aimed to create a more stable and transparent framework for managing the functions of these key players in the mortgage market.

In contrast, the other entities listed do not serve the same purpose. FNMA and FHLMC are the GSEs being overseen, while FINCEN focuses on financial crimes and anti-money laundering efforts, which are unrelated to GSE oversight. Therefore, the correct answer emphasizes the FHFA's role in regulating and overseeing the institutions responsible for significant segments of the housing finance system.