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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



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 PM622http://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 PM191http://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 PM604http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - First Quarter 201620477<h2>​​​​First Quarter 2016 Highlights</h2><div><strong><br></strong></div><div><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></div><div><br></div><ul><li><span style="line-height&#58;22px;">The Enterprises completed 49,573 foreclosure prevention actions in&#160;</span><span style="line-height&#58;22px;">the first quarter of 2016, bringing the total to 3,693,022 since the start&#160;</span><span style="line-height&#58;22px;">of conservatorships in September 2008. Of these actions, 3,045,413&#160;</span><span style="line-height&#58;22px;">have helped troubled homeowners stay in their homes including&#160;</span><span style="line-height&#58;22px;">1,930,635 permanent loan modifications.&#160;</span></li><li><span style="line-height&#58;22px;"></span><span style="line-height&#58;22px;">Approximately 29 percent of all permanent loan modifications in the&#160;</span><span style="line-height&#58;22px;">first quarter helped to reduce homeowners' monthly payments by over&#160;</span><span style="line-height&#58;22px;">30 percent.</span></li><li><span style="line-height&#58;22px;"></span><span style="line-height&#58;22px;">The share of modifications with principal forbearance remained at 19&#160;</span><span style="line-height&#58;22px;">percent. Modifications with extend-term only accounted for 48 percent&#160;</span><span style="line-height&#58;22px;">of all loan modifications in the first quarter due to improved house&#160;</span><span style="line-height&#58;22px;">prices and a declining HAMP eligible population.</span></li><li><span style="line-height&#58;22px;"></span><span style="line-height&#58;22px;">As of March 31, 2016, approximately 20 percent of loans modified in&#160;</span><span style="line-height&#58;22px;">the first quarter of 2015 had missed two or more payments, one year&#160;</span><span style="line-height&#58;22px;">after modification.</span></li><li><span style="line-height&#58;22px;"></span><span style="line-height&#58;22px;">There were 7,327 completed short sales and deeds-in</span><span style="line-height&#58;22px;">-lieu during the&#160;</span><span style="line-height&#58;22px;">quarter, bringing the total to 647,609 since the conservatorships began&#160;</span><span style="line-height&#58;22px;">in September in 2008.</span></li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><p></p><ul><li><span style="line-height&#58;22px;">The n</span><span style="line-height&#58;22px;">umber of 60+ days delinquent loans further declined 10 percent&#160;</span><span style="line-height&#58;22px;">to 461,696 at the end of the first quarter, which remai</span><span style="line-height&#58;22px;">ns the lowest&#160;</span><span style="line-height&#58;22px;">level since the first quarter of 2008.</span></li><li><span style="line-height&#58;22px;"></span><span style="line-height&#58;22px;">The Enterprises' serious delinquency rate fell to 1.3 percent at the end&#160;</span><span style="line-height&#58;22px;">of the first quarter, which is the lowest level since the start of&#160;</span><span style="line-height&#58;22px;">conservatorships. This compared with 4.9 percent for Federal Housing&#160;</span><span style="line-height&#58;22px;">Administration (FHA) loans, 2.5 percent for Veterans Affairs (VA) loans&#160;</span><span style="line-height&#58;22px;">and 3.3 percent for all loans (Industry average).</span></li></ul><p></p><p><strong>​The Enterprises' Foreclosures&#58;</strong></p><ul><li><span style="line-height&#58;22px;">​</span><span style="line-height&#58;22px;">​</span><span style="line-height&#58;22px;">Foreclosure starts decreased 6 percent to 60,706 while third-party&#160;and foreclosure sales fell slightly to 24,954 in the first quarter.</span></li><li><span style="line-height&#58;22px;"></span><span style="line-height&#58;22px;">REO inventory fell 9 percent during the quarter to 66,277, as property&#160;dispositions continued to outpace property acquisitions.</span></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"><em>Fannie Mae and Freddie Mac State Borrower Assistance Map</em></a>​​​</p><p></p>6/23/2016 3:01:06 PM167http://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA House Price Index Up 0.2 Percent in April20466<p><strong>Washington, D.C. </strong>– U.S. house prices rose in April, up <strong>0.2 percent </strong>on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI).&#160; The previously reported 0.7 percent increase in March was revised upward to reflect a 0.8 percent increase.&#160; </p><p>The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.&#160; From April 2015 to April 2016, house prices were up <strong>5.9</strong><strong> percent</strong>.&#160; Since October 2015, the national house price index level has surpassed the prior peak level from March 2007. </p><p>For the nine census divisions, seasonally adjusted monthly price changes from March 2016 to April 2016 ranged from <strong>-0.7</strong> <strong>p</strong><strong>e</strong><strong>r</strong><strong>ce</strong><strong>n</strong><strong>t</strong> in the Middle Atlantic division to <strong>+1.4</strong><strong> </strong><strong>p</strong><strong>e</strong><strong>r</strong><strong>ce</strong><strong>n</strong><strong>t</strong> in the New England division.&#160; The 12-month changes were all positive, ranging from <strong>+1.7 percent</strong> in the Middle Atlantic division to <strong>+8.6 percent</strong> in the Pacific division.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs on the following pages.&#160; Complete historical downloadable data and HPI release dates are available on the <a href="/hpi">HPI page</a>. </p><p>For detailed information on the monthly HPI, see <a href="/Media/PublicAffairs/Pages/Housing-Price-Index-Frequently-Asked-Questions.aspx" target="_blank">HPI Frequently Asked Questions (FAQ)</a>.&#160; The&#160;&#160;next HPI report will be released July 21, 2016 and will include monthly data through May 2016.&#160; </p>6/22/2016 1:03:46 PM1115http://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx

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