Federal Housing Finance Agency Print
Home / About FHFA / Reports & Plans / All-Reports

 Reports and Plans



Foreclosure Prevention Report - Second Quarter 201621343<h2>Second Quarter 2016 Highlights</h2><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul><li>The Enterprises completed 48,438 foreclosure prevention actions in the second quarter of 2016, bringing the total to 3,741,498 since the start of conservatorships in September 2008. Of these actions, 3,087,014 have helped troubled homeowners stay in their homes including 1,962,599 permanent loan modifications.<br></li><li>The share of modifications with principal forbearance remained at 19 percent. Modifications with extend-term only accounted for 47 percent of all loan modifications in the first quarter due to improved house prices and a declining HAMP eligible population.<br></li><li>As of June 30, 2016, approximately 20 percent of loans modified in the second quarter of 2015 had missed two or more payments, one year after modification.<br></li><li>There were 6,837 completed short sales and deeds-in-lieu during the quarter, bringing the total to 654,484 since the conservatorships began in September in 2008.<br></li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li>The number of 60+ days delinquent loans declined another 6 percent to 434,952 at the end of the second quarter, which remains the lowest level since 2008.<br></li><li>The Enterprises' serious delinquency rate fell to 1.2 percent at the end of the second quarter, which is the lowest level since the start of conservatorships. This compared with 4.4 percent for Federal Housing Administration (FHA) loans, 2.5 percent for Veterans Affairs (VA) loans, and 3.1 percent for all loans (Industry average).<br></li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong></p><ul><li>Foreclosure starts decreased 9 percent to 55,100 while third-party and foreclosure sales fell 6 percent to 23,348 in the second quarter.<br></li></ul><p><em>For an interactive online map that provides state data, click on the following link&#58;&#160;</em><a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx" style="font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;"><em>Fannie Mae and Freddie Mac State Borrower Assistance Map</em></a></p><p><a href="/Media/PublicAffairs/Pages/FHFA-Second-Quarter-Foreclosure-Prevention-Report-Shows-Continuing-Progress-on-Foreclosure-Preventions.aspx">Related News Release</a></p>9/28/2016 3:00:40 PM92http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index - July 201621299<p>​The FHFA House Price Index reported a 0.5&#160;percent increase in U.S. house prices in July from the previous month. &#160;From July 2015 to July 2016, house prices were up&#160;5.8&#160;percent. &#160;For the nine census divisions, seasonally adjusted monthly price changes from June 2016 to July 2016 ranged from +0.2 percent in the Middle Atlantic division to +1.0 percent in the East South Central division. &#160;The 12-month changes were all also positive, ranging from +2.6 percent in the Middle Atlantic division to +7.7 percent in the Pacific division.&#160;</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs in the attachments.&#160;</p><p><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0-5-Percent-in-July-2016.aspx">Related news release</a></p>9/22/2016 1:00:14 PM742http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - July 201621220<h2 style="font-style&#58;normal;">July 2016&#160;Highlights&#160;</h2><p><span style="line-height&#58;22px;">Total refinance&#160;volume decreased in July 2016&#160;after increasing over the previous three months. &#160;Mortgage rates continued to decrea</span><span style="line-height&#58;22px;">se in July&#58; &#160;the average interest rate on a 30-year fixes rate mortgage fell to 3.44 percent from 3.57 percent in June.&#160;</span></p><p><span style="line-height&#58;22px;">In July 2016&#58;</span></p><ul><li><span style="line-height&#58;22px;">Borrowers completed 5.121 refinances through HARP, bringing the total refinances from the inception of the program to 3,423,975.</span><br></li><li><span style="line-height&#58;22px;">HARP volume represented 3&#160;percent of total refinance volume.</span><br></li><li><span style="line-height&#58;22px;">Five percent of the loans refinances through HARP had a&#160;loan‐to‐value ratio&#160;greater than 125 percent.</span><br></li></ul><span style="line-height&#58;22px;">Year to date through July 2016&#58;&#160;</span><br><span style="line-height&#58;22px;"><ul><li><span style="line-height&#58;22px;">Borrowers with loan‐to‐value ratios greater than 105 percent accounted for 21 percent of the volume of HARP loans.</span><br></li><li><span style="line-height&#58;22px;">Twenty-six percent of HARP refinance for underwater borrowers were for shorter-term 15- and&#160;20‐year mortgages, which build equity faster than traditional 30‐y</span><span style="line-height&#58;22px;">ear mortgages.</span><br></li><li><span style="line-height&#58;22px;">HARP&#160;refinances represented 9 or more percent of total refinances in Florida&#160;and Georgia, more than double the 4&#160;percent of total refinances nationwide over the same period.</span><br></li></ul></span><span style="line-height&#58;22px;">Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.</span><br><span style="line-height&#58;22px;">Ten states accounted for over 60 percent of the nation's HARP eligible loans with a refinance incentive as of March 31, 2016.</span><br><p>&#160;</p><ul style="line-height&#58;14px;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;normal;"><font face="Calibri"></font><font color="#33339b" lang="JA" face="ArialMT"><font color="#33339b" lang="JA" face="ArialMT"></font></font></ul>9/16/2016 2:00:58 PM213http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Open Government Plan 201621218<p>​<font color="#2e2e2e" size="3"><font color="#2e2e2e" size="3">Pursuant to the </font></font><font size="3">Open Government Directive </font><font color="#2e2e2e" size="3"><font color="#2e2e2e" size="3">(OGD) issued by the Office of Management of Budget, </font></font><font size="3">this document reflects FHFA’s 2016 Open Government Plan (Plan) </font><font color="#2e2e2e" size="3"><font color="#2e2e2e" size="3">to advance the principles of transparency, participation, and collaboration that form the cornerstone of an open government. </font></font><font size="3">FHFA’s Open Government objective is to </font><font color="#2e2e2e" size="3"><font color="#2e2e2e" size="3">ensure that the information and data released to the public increases transparency of FHFA and the regulated entities while supporting the stability of the secondary mortgage market. FHFA information related to the OGD can be found at </font></font><a href="/open"><font size="3">www.FHFA.gov/open</font></a><font size="3">. </font></p>9/15/2016 10:06:48 PM267http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - 2Q 2016 / June20159<p>U.S. house prices rose <strong>1.2 percent </strong>in the second quarter of 2016 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). &#160; House prices rose 5.6 percent from the second quarter of 2015 to the second quarter of 2016. FHFA’s seasonally adjusted monthly index for June was up 0.2 percent from May. &#160;The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.&#160;</p><p>While the HPI rose 5.6 percent from the second quarter of 2015 to the second quarter of 2016, prices of other goods and services were nearly unchanged. &#160;The inflation-adjusted price of homes rose approximately 5.7 percent over the last year.</p><p><strong>Significant Findings</strong></p><ul><li>Home prices rose in every state except Vermont between the second quarter of 2015 and the second quarter of 2016. &#160;The top five states in annual appreciation were&#58; &#160;1) Oregon 11.7 percent; 2) Washington 10.3 percent; 3) Colorado 10.2 percent; 4) Florida 10.0 percent; and 5) Nevada 9.6 percent.</li><li>Among the 100 most populated metropolitan areas in the U.S., annual price increases were greatest in North Port-Sarasota-Bradenton, FL, where prices increased by 15.7 percent. &#160;Prices were weakest in Bridgeport-Stamford-Norwalk, CT, where they fell 3.3 percent.</li><li>Of the nine census divisions, the Mountain division experienced the strongest increase in the second&#160;quarter, posting a 1.9 percent quarterly increase and an 8.1 percent increase since the second quarter of last year. &#160;House price appreciation was weakest in the Middle Atlantic division, where prices rose 0.6 percent from the last quarter.&#160;</li></ul><p><a href="/Media/PublicAffairs/Pages/US-House-Prices-Rise-1pt2-Percent-in-Second-Quarter-Some-Signs-of-Deceleration.aspx">Related News Release</a></p><p><a href="https&#58;//www.youtube-nocookie.com/embed/48M6qfLGVZM" target="_blank">Video of Highlights for 2Q 2016</a></p><div><br></div>8/24/2016 1:00:29 PM3133http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - Second Quarter 201619943<p>​Second Quarter 2016 Highlights</p><ul><li>Total refinance volume increased in June 2016 as rates edged lower through May.&#160; Mortgage rates continued to decrease in June&#58; the average interest rate on a 30-year fixed rate mortgage fell to 3.57 percent from 3.60 percent in May.</li></ul><p>In the second quarter 2016&#58;</p><ul><li>Borrowers completed 18,310 refinances through HARP, bringing total refinances from the inception of the program to 3,418,854.</li><li>HARP volume represented 4 percent of total refinance volume.</li></ul><p>Year to date through June 2016&#58;</p><ul><li>Borrowers with loan-to-value ratios greater than 105 percent accounted for 22 percent of the volume of HARP loans.</li><li>Twenty six percent of HARP refinances for underwater borrowers were for shorter-term 15-and 20-year mortgages, which build equity faster than traditional 30-year mortgages.</li><li>HARP refinances represented 9 or more percent of total refinances in Florida and Georgia, more than double the 4 percent of total refinances nationwide over the same period.</li></ul><p>In June, 8 percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.</p><p>Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.</p><p>Ten states accounted for over 60 percent of the nation's HARP eligible loans with a refinance incentive as of December 31, 2015.</p><p align="LEFT">&#160;</p><font face="Calibri"><p align="LEFT">&#160;</p><p>&#160;</p></font>8/18/2016 3:01:55 PM497http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Report on Collateral Pledged to Federal Home Loan Banks - August 201621155<p>​This report provides data on the levels of collateral pledged to the FHLBanks securing advances and other products offered by FHLBanks to their members and housing associates. The report includes data on the adjusted minimum level of collateral pledged to secure advances and the total collateral pledged by members and housing associates.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </p>8/11/2016 3:17:56 PM444http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - May 201620591<h1>May 2016 Highlights </h1><h2>The Enterprises' Foreclosure Prevention Actions&#58; </h2><ul><li>The Enterprises completed 15,283 foreclosure prevention actions in May 2016, bringing the total to 3,724,545 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications. </li><li>There were 9,838 permanent loan modifications in May, bringing the total to 1,951,257 since the conservatorships began in September 2008. </li><li>The share of modifications with principal forbearance increased to 19 percent. Modifications with extend-term only accounted for 47 percent of all permanent modifications in May due to improved house prices and a declining HAMP eligible population. </li><li>There were 2,194 short sales and deeds-in-lieu completed in May, down 4 percent compared with April. </li></ul><h2>The Enterprises' Mortgage Performance&#58; </h2><ul><li>The serious delinquency rate decreased from 1.31 percent at the end of April to 1.28 percent at the end of May. </li></ul><h2>The Enterprises' Foreclosures&#58; </h2><ul><li>Third-party and foreclosure sales increased 3 percent from 7,595 in April to 7,849 in May. </li><li>Foreclosure starts increased 6 percent from 17,665 in April to 18,726 in May. </li></ul>8/9/2016 4:17:28 PM306http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Dodd-Frank Act Stress Tests - Severely Adverse Scenario20992<h2>Background </h2> <br> <ul><li>This report provides updated information on possible ranges of future financial results of Fannie Mae and Freddie Mac (the &quot;Enterprises&quot;) under severely adverse conditions. The severely adverse conditions assumed were identical for both Enterprises.</li><li>The Enterprises are required to conduct stress tests per FHFA rule 12 CFR § 1238, which implements section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the &quot;Dodd-Frank Act&quot;). Section 165(i)(2) of the Dodd-Frank Act requires certain financial companies with total consolidated assets of more than $10 billion, and which are regulated by a primary Federal financial regulatory agency, to conduct annual stress tests to determine whether the companies have the capital necessary to absorb losses as a result of adverse economic conditions. This is the third implementation of the Dodd-Frank Act Stress Tests (DFAST).</li><li>The projections reported here are not expected outcomes. They are modeled projections in response to &quot;what if&quot; exercises based on assumptions about Enterprise operations, loan performance, macroeconomic and financial market conditions, and house prices. The projections do not define the full range of possible outcomes. Actual outcomes may be very different. </li><li>An overview of the DFAST Severely Adverse scenario is described on page 4. The Enterprises used their respective internal models to project their financial results based on the assumptions provided by the Federal Reserve and FHFA. </li><li>While this effort achieves a degree of comparability between the Enterprises, it does not eliminate differences in their respective internal models, accounting differences, or management actions. </li></ul><h2>Dodd‐Frank Act Stress Tests Severely Adverse Scenario </h2> <br> <ul><li>As of December 31, 2015, the Enterprises have drawn a combined $187.5 billion from the Department of the Treasury under the terms of the Senior Preferred Stock Purchase Agreements (the &quot;PSPAs&quot;).  </li><li>The combined remaining funding commitment under the PSPAs as of December 31, 2015 was $258.1 billion.  </li><li>Under the Severely Adverse scenario, incremental Treasury draws are projected to range between $49.2 billion and $125.8 billion depending on the treatment of deferred tax assets.  </li><li>The remaining funding commitment under the PSPAs after the projected draws ranges between $208.9 billion and $132.2 billion depending on the treatment of deferred tax assets. </li></ul><p> <a href="/Media/PublicAffairs/Pages/FHFA-Announces-Results-of-Fannie-and-Freddie-Dodd-Frank-Act-Stress-Tests-8-8-2016.aspx">Related News Release</a></p>8/8/2016 3:02:12 PM463http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Fannie Mae and Freddie Mac Single-Family Guarantee Fees in 201521234<p>Section 1601 of the Housing and Economic Recovery Act of 2008 (HERA) requires the Federal Housing Finance Agency (FHFA) to conduct an ongoing study of the guarantee fees charged by Fannie Mae and Freddie Mac (the Enterprises) and to submit a report to Congress each year.&#160; HERA requires an analysis of the average guarantee fee and a breakdown by product type, risk class, and volume of a lender's business.&#160; The report also must analyze the costs of providing the guarantee and provide a comparison to the prior year.&#160; FHFA issued the first such report in 2009.&#160; </p><p>This report discusses the guarantee fees charged in 2015 and provides a five-year perspective with data back to 2011.&#160; The major findings in this report are&#58;</p><ul><li><p>In April 2015, the Agency completed a comprehensive review of the adequacy of the Enterprises' single-family guarantee fees.&#160; FHFA found no compelling economic reason to change the overall level of fees.&#160; However, the Agency directed the Enterprises to make certain adjustments effective with September 2015 deliveries.&#160; Specifically, the Agency directed the Enterprises to eliminate the 25 basis point upfront adverse market charge that had been&#160; in place since 2008 and to replace the revenue lost from eliminating that charge with targeted changes in other upfront fees to address risk-based and access-to-credit considerations.&#160; Overall, the modest changes were approximately revenue neutral for the Enterprises.</p></li><li><p>The average single-family guarantee fee increased by two basis points in 2015 to 59 basis points.&#160; This stability is consistent with FHFA's April 2015 determination that the fees adequately reflected the credit risk of new acquisitions after years of sharp fee increases.&#160; During the five year period from 2011 to 2015, fees had more than doubled from 26 basis points to 59 basis points.</p></li></ul><ul><li><p>Acquisitions in 2015 showed an improvement in expected profitability.&#160; This is measured as the difference between the charged guarantee fee and modeled costs, including a targeted return on the modeled economic capital calculated for these loans.&#160; The Enterprises expected their 2015 acquisitions to generate returns in line with their targeted levels.&#160; In 2014, expected returns on the yearly acquisitions were below the targeted level.&#160; The improvement in 2015 was mainly due to an acquisition loan mix that represented lower credit risk as compared to the prior year.</p></li><li><p>Consistent with action taken by FHFA in late 2012 to remove pricing concessions for the largest lenders, the guarantee fees charged to the largest and smallest lenders had no material differences.&#160; The average guarantee fee for the smallest and largest lenders was within one basis point in 2015 and there was no material difference in the expected profitability between those two size groups.&#160; The smallest lender groups accounted for 41 percent of the dollar value of Enterprise acquisitions in 2015, up from 29 percent in 2011.</p></li></ul><p><a href="/Media/PublicAffairs/Pages/FHFA-Issues-2015-Report-on-Guarantee-Fees.aspx">See related press release.</a> </p>8/1/2016 5:19:32 PM1440http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

© 2016 Federal Housing Finance Agency