Our mission is to ensure the Housing Government-sponsored Enterprises operate in a safe and sound manner so they serve as a reliable source of liquidity and funding for housing finance and community investment. Together these institutions provide more than $5 trillion in funding for the U.S. mortgage markets and financial institutions.
Read about the agency’s 2015 examinations of Fannie Mac, Freddie Mac and the Home Loan Bank System.
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Goal: Help restore confidence, enhance capacity to fulfill mission, and mitigate systemic risk that contributed directly to instability in financial markets.
MAINTAIN foreclosure prevention activities and credit availability, REDUCE taxpayer risk, and BUILD a new single-family securitization infrastructure. Read more in the 2016 Scorecard and Conservatorships Strategic Plan.
Plans and Reports
FHFA experts provide reliable data, including all states, about activity in the U.S. mortgage market through its House Price Index, Refinance Report, Foreclosure Prevention Report, and Performance Report.
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HARP - the Home Affordable Refinance Program was created by FHFA specifically to help homeowners current on their mortgage payments, but underwater on their mortgages.
FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector. Meet the experts….
Key Topics pages provide information about FHFA's work on a range of issues facing the nation and highlight the most relevant related news releases, reports, statements and web pages on the respective topics.
The Honorable Melvin L. Watt of Charlotte, NC sworn in on January 6th to a 5-year term as the first Senate-confirmed Director of FHFA.
Read more about Director Watt
Washington, D.C. – The Federal Housing Finance Agency (FHFA) is sending to the Federal Register a request for public input on the implementation of a plan to gradually reduce the maximum size of loans that Fannie Mae and Freddie Mac may purchase.
Setting reduced “loan purchase limits” furthers the goal of contracting the market presence of Fannie Mae and Freddie Mac gradually over time, one of the key objectives of FHFA’s “Strategic Plan for Enterprise Conservatorships.” Reducing the limits is also in line with President Obama’s August 2013 request that FHFA reduce loan limits in order to reduce the government’s footprint in the mortgage market. The loan purchase limits, which FHFA would set under its authority as conservator of Fannie Mae and Freddie Mac, would modestly reduce Fannie Mae’s and Freddie Mac’s business at the high end of the market, invite private capital to re-enter the market, and limit taxpayer exposure to losses.
In areas where the statutory maximum loan limit for one-unit properties is currently $417,000, the plan being contemplated would set the loan purchase limit at $400,000—approximately a four percent reduction. The loan purchase limit would be reduced by the same percentage in other parts of the country, including those areas where current limits are at $625,500. Those loan purchase limits would be set at $600,000.
FHFA has concluded that inviting public input on potential operational and technical issues associated with the planned decrease in loan purchase limits would benefit any final decision. Therefore, before deciding to undertake any modifications, FHFA is seeking public input that will inform its decision-making and ensure any change minimizes market disruptions. FHFA seeks input on the implementation of the proposed limits including whether six months’ advance notice is adequate, whether it is preferable for FHFA to announce a multi-year schedule of decreases, and to what date any future loan purchase limit reductions should be tied.
The contemplated action is a plan and not a final decision. The requested public input will be carefully reviewed before FHFA decides whether and how to proceed with the planned approach to Freddie Mac’s and Fannie Mae’s loan purchase limits. No final decision on loan purchase limits will be made until the comments are reviewed and, in any event, the changes contemplated in this Request for Input will not affect loans originated before October 1, 2014.
The attached document outlines FHFA’s legal authority for decreasing the loan purchase limit; includes an impact analysis of planned reductions; and poses questions regarding implementation that interested parties are invited to answer. Input must be received no later than March 20, 2014 and should be submitted to the Federal Housing Finance Agency, Office of Policy Analysis and Research, 400 7th Street, SW, Ninth Floor, Washington, DC 20024 or via email to: loanlimitinput@FHFA.gov.
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.5 trillion in funding for the U.S. mortgage markets and financial institutions.
© 2016 Federal Housing Finance Agency