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Welcome to the Government page of FHFA’s website.  This page provides consolidated resources for federal, state and local government personnel who are interested in the nation’s housing finance system.


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Key Legislation


​Short Title (Citation)



Federal Home Loan Bank Act

12 U.S.C. 1421 et seq.
(Public Law 72-304 (1932))

Established the Federal Home Loan Bank System.

​​GPO Text / PD​F


Federal Housing Enterprises Financial Safety and Soundness Act of 1992

12 U.S.C. 4501 et seq.
(Public Law 102-550 (1992))

Primary statutory authorization for FHFA’s regulation of Fannie Mae, Freddie Mac and the Federal Home Loan Bank System, including supervision of housing mission and goals and actions as conservator or receiver for Fannie Mae, Freddie Mac or any Federal Home Loan Bank.

Housing and Economic Recovery Act of 2008

(Public Law 110-289 (2008))

Amended the Safety and Soundness Act to create FHFA, place regulation of Fannie Mae, Freddie Mac and the Bank System under one regulator, enhance supervision of these regulated entities, and enhance FHFA's authorities as conservator or receiver. 






​Federal Home Loan Mortgage Corporation Act

12 U.S.C. 1451 et seq.
(Public Law 91-351 (1970))

Created Freddie Mac and provided authority for Freddie Mac’s activities.

GPO Text / PDF​


Federal National Mortgage Association Charter Act

12 U.S.C. 1716 et seq.
(Public Law 84-345,National Housing Act, Title III (1934), as amended by the Housing and Urban Development Act of 1968)

Created Fannie Mae and provided authority for Fannie Mae’s activities. Amendment in 1968 created the Government National Mortgage Association (Ginnie Mae), supervised by the Department of Ho​using and Urban Development.

GPO Text / PDF

​Find regulations pertaining to FHFA supervision at eCFR.




 Related Information



Refinance Report - May 201610465<h1>​May 2016 Highlights</h1><div> <br> </div><p>Total refinance volume increased in May 2016 as rates remained&#160;below the levels observed at the end of 2015. Mortgage rates&#160;decreased in May&#58; the average interest rate on a 30‐year fixed rate&#160;mortgage fell to 3.60 percent from 3.61 percent in April.</p><p>In May 2016&#58;</p><ul><li> <span style="line-height&#58;22px;">Borrowers completed 6,091 refinances through HARP, bringing total refinances from the inception of the program to 3,412,982.</span><br></li><li> <span style="line-height&#58;22px;">HARP volume represented 4 percent of total refinance volume.</span><br></li><li> <span style="line-height&#58;22px;">Six percent of the loans refinanced through HARP had a loan-to‐value ratio greater than 125 percent.</span><br></li></ul><p>Year to date though May 2016&#58;</p><ul><li> <span style="line-height&#58;22px;">Borrowers with loan‐to‐value ratios greater than 105 percent accounted for 22 percent of the volume of HARP loans.</span><br></li><li> <span style="line-height&#58;22px;">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.</span><br></li><li> <span style="line-height&#58;22px;">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.</span></li></ul><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 eligi​ble loans with a refinance incentive as of December 31, 2015.</p>7/18/2016 5:00:14 PM416http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - April 201613502<h3>​​April 2016 Highlights​</h3><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul><li><span style="line-height&#58;22px;">The Enterprises completed 16,240 foreclosure prevention actions in April 2016, bringing the total to 3,709,262 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.</span><br></li><li><span style="line-height&#58;22px;">T</span><span style="line-height&#58;22px;">here were 10,784 permanent loan modifications in April, bringing the total to 1,941,419 since the conservatorships began in September 2008.</span><br></li><li><span style="line-height&#58;22px;">The share of modifications with principal forbearance decreased to 18 percent. Modifications with extend-term only also decreased to 48 percent of all permanent modifications in April due to improved house prices and a declining HAMP eligible population.</span><br></li><li><span style="line-height&#58;22px;">There were 2,280 short sales and deeds-in-lieu completed in April, down 17 percent compared with March.</span><br></li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li><span style="line-height&#58;22px;">T</span><span style="line-height&#58;22px;">he </span><span style="line-height&#58;22px;">serious delinquency rate decreased from 1.35 percent at the end of March to 1.31 percent at the end of April.</span><br></li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong></p><ul><li><span style="line-height&#58;22px;">T</span><span style="line-height&#58;22px;">hird-party and foreclosure sales declined 7 percent from 8,176 in March to 7,595 in April.</span><br></li><li><span style="line-height&#58;22px;">Foreclosure starts decreased 18 percent from 21,506 in March to 17,665 in April.</span><br></li></ul>7/12/2016 3:00:14 PM444http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Releases Data on Non-performing Loan Sales20559<p><strong>​​​​Washington, D.C. </strong>– The Federal Housing Finance Agency (FHFA) today released its first report providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). &#160;The Enterprise Non-Performing Loan Sales Report includes NPL sales data through May 31, 2016 and preliminary outcomes for borrowers through December 31, 2015. &#160;NPL sales reduce the number of severely delinquent loans in the Enterprises’ portfolios and the rules are subject to <a href="/Media/PublicAffairs/Pages/Enhanced-Non-Performing-Loan-Sale-Guidelines.aspx">FHFA requirements</a> that encourage NPL buyers to prioritize outcomes for borrowers other than foreclosure. &#160;</p><p>“This report reflects the first available results since the Enterprises started to sell NPLs and since we put in place enhanced requirements for servicing these loans,” said FHFA Director Melvin L. Watt. &#160;“The report demonstrates our commitment to transparency as we work to achieve more favorable outcomes for borrowers and for the Enterprises by providing alternatives to foreclosure whenever possible. Because the program is new, we have only preliminary data about outcomes to share, but we will continue to provide regular reports as we gain new outcome information,” said Watt. &#160;</p><p>The report shows that, as of the end of May of this year, the Enterprises have sold over 41,600 NPLs with a total unpaid principal balance of $8.5 billion.&#160;</p><ul><li><span style="line-height&#58;22px;">​</span><span style="line-height&#58;22px;">The NPLs had an average delinquency of 3.4 years and an average current loan-to-value ratio of 98 percent. &#160;</span><br></li><li><span style="line-height&#58;22px;">New Jersey, Florida and New York accounted for nearly half of the NPLs sold.&#160;</span><br></li><li><span style="line-height&#58;22px;">A nonprofit organization, Community Loan Fund of New Jersey, was the winning bidder on five of six small, geographically concentrated pools sold by the Enterprises through May 2016 and is a service provider for the sixth pool.</span><br></li></ul><p>The outcomes in the report are based on only the 8,849 NPLs that were sold by June 30, 2015 and reflect outcomes only through December 31, 2015. This preliminary outcome information suggests the following&#58; &#160;&#160;</p><ul><li><span style="line-height&#58;22px;">NPLs where the home is occupied by the borrower had a higher rate of foreclosure avoidance (13 percent foreclosure avoided versus 6.2 for vacant properties).</span><br></li><li><span style="line-height&#58;22px;">NPLs on which the property was vacant had a much higher rate of foreclosure (21.3 percent foreclosure versus 8.5 percent for borrower occupied properties), which is viewed by FHFA as favorable in light on FHFA's belief that foreclosure of &#160;vacant homes can improve neighborhood stability and reduce blight as the homes are sold or rented to new occupants.</span><br></li><li><span style="line-height&#58;22px;">To date, only 24 percent of the 8,849 NPLs have been resolved, 12 percent without foreclosure and 12 percent through foreclosure.</span></li><li><span style="line-height&#58;22px;"></span><span style="line-height&#58;22px;">Co</span><span style="line-height&#58;22px;">mpared to a benchmark of similarly delinquent Enterprise NPLs that were not sold, foreclosures for NPLs sold trended lower than the benchmark loans the Enterprises did not sell (21 percent of NPLs that have been with the new servicers the longest avoided foreclosure compared to 14 percent of the benchmark NPLs).</span></li></ul><p>Future NPL Sales Reports are expected to be published twice each year.&#160;</p><p>Link to <a href="/AboutUs/Reports/ReportDocuments/NPL-Sales-Report_May2016.pdf">Non-Performing Loan Sales Report</a>​</p><p>​Link to <a href="/PolicyProgramsResearch/Policy/Pages/Non-Performing-Loan-Sales.aspx">NPL page on FHFA.gov</a>​&#160;(Guidelines, etc.)</p><div><br></div>6/30/2016 4:30:04 PM1780http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
Enterprise Non-Performing Loan Sales Report - May 201620560<p>​​On June 30, 2016, the Federal Housing Finance Agency (FHFA) released its first report providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises).&#160; The <em>Enterprise Non-Performing Loan Sales Report</em> includes NPL sales data through May 31, 2016 and preliminary outcomes for borrowers through December 31, 2015. &#160;NPL sales reduce the number of severely delinquent loans in the Enterprises' portfolios and the rules are subject to <a href="/Media/PublicAffairs/Pages/Enhanced-Non-Performing-Loan-Sale-Guidelines.aspx">FHFA requirements</a> that encourage NPL buyers to prioritize outcomes for borrowers other than foreclosure.&#160;&#160;</p><p>Future NPL Sales Reports are expected to be published twice each year.&#160;​​<br></p><p><a href="/Media/PublicAffairs/Pages/FHFA-Releases-Data-on-Non-performing-Loan-Sales.aspx">Related News Release</a>​</p>6/30/2016 4:30:06 PM289http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Actions Approach 3.7 Million Through First Quarter 201620476<p>​​<strong style="line-height&#58;1.6;">Washington, D.C. –&#160;</strong><span style="line-height&#58;22px;">The Federal Housing Finance Agency (FHFA) today reported that</span><strong style="line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;"> </strong><span style="line-height&#58;22px;">Fannie Mae and Freddie Mac completed 49,573 foreclosure prevention actions in the first quarter of 2016, bringing the total number of foreclosure prevention actions to nearly </span><strong style="line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;">3.7 million</strong><span style="line-height&#58;22px;"> since the start of the conservatorships in September 2008. </span><span style="line-height&#58;22px;">&#160;</span><span style="line-height&#58;22px;">These measures have helped more than </span><strong style="line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;">3.0 million </strong><span style="line-height&#58;22px;">borrowers stay in their homes, including nearly </span><strong style="line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;">1.9 million </strong><span style="line-height&#58;22px;">who received permanent loan modifications.</span><span style="line-height&#58;22px;">&#160; </span><span style="line-height&#58;22px;">&#160;</span><span style="line-height&#58;22px;">&#160;</span></p><p>Further details can be found in FHFA's first quarter <em><a href="/AboutUs/Reports/ReportDocuments/FPR_1Q2016FINAL.pdf">Foreclosure Prevention Report</a>​, </em>which also includes data on Fannie Mae and Freddie Mac home retention actions, delinquency data and real estate owned (REO) inventory.&#160; FHFA publishes the report data in an online, interactive <a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx">Borrower Assistance Map</a> accessible through FHFA.gov.&#160; </p><p>Other foreclosure prevention data for Fannie Mae and Freddie Mac noted in the quarterly report include&#58; </p><ul style="list-style-type&#58;disc;"><li>​The number of loans 60+ days delinquent declined another 10 percent during the quarter, dipping to 461,696, the lowest level since the first quarter of 2008.</li><li>The serious delinquency rate of Fa​nnie Mae and Freddie Mac loans continued to decline, settling at 1.3 percent at the end of the first quarter, down significantly from a peak of 4.93 percent in the first quarter of 2010.</li><li>REO inventory fell 9 percent during the quarter to 66,277, as property dispositions continued to outpace property acquisitions.</li></ul><p><span style="font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;inherit;"><a href="/AboutUs/Reports/ReportDocuments/FPR_1Q2016FINAL.pdf">Link to Report</a>​</span><br></p>6/23/2016 3:06:30 PM657http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx

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