Federal Housing Finance Oversight Board Increased Transparency Act of 2010 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to require the Federal Housing Finance Oversight (FHFO) Board to testify at least annually before the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs (currently, before Congress).
Provides that, if at any time either the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises or GSEs) receives funds from the Treasury under the Amended and Restated Senior Preferred Stock Purchase Agreement (dated September 26, 2008, amended May 6, 2009, and further amended December 24, 2009) between the Treasury and each GSE, the FHFO Board shall testify before each such Committee before the end of the calendar quarter during which such GSE received such funds regarding specified matters and the receipt of such funds. Considers any such testimony during a year to satisfy the requirement that the Board testify at least annually before such Committees.