This annual report describes FHFA's accomplishments, as well as challenges, the agency faced in meeting the strategic goals and objectives during the past fiscal year.
Read about the agency’s 2015 examinations of Fannie Mac, Freddie Mac and the Home Loan Bank System.
Submit comments and provide input on FHFA Rules Open for Comment by clicking on Rulemaking and Federal Register.
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.
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. – Refinance volume is continuing to rise with more underwater borrowers refinancing through the Home Affordable Refinance Program (HARP) than ever before. According to the Federal Housing Finance Agency’s (FHFA) latest
Refinance Report, HARP loans represented 20 percent of total refinance volume in May, the largest increase since the program was launched in 2009.
The increased volume is due, in part, to record-low interest rates on 30-year mortgages and to the removal of the loan-to-value (LTV) cap and certain risk-based fees enabling more borrowers to take advantage of HARP.
"These numbers show HARP 2.0 is accomplishing the goals set forth—to provide relief to borrowers who might otherwise be unable to refinance due to house price declines," said FHFA Acting Director Edward J. DeMarco. "Borrowers with Fannie Mae- or Freddie Mac-backed loans who are current on their underwater mortgages are taking advantage of the opportunity offered by HARP 2.0."
During the first five months of this year, more than 78,000 refinances were completed, exceeding the total HARP refinances during all of 2011. In May, borrowers with greater than 105 percent LTV accounted for nearly one-third of HARP volume.
Also in the May FHFA
An increasing number of underwater borrowers refinancing through HARP chose shorter-term 15- or 20-year mortgages, which build equity faster than traditional 30-year mortgages.
HARP refinances represented over 40 percent of total refinances in Nevada, Arizona, Michigan and Florida, compared to 20 percent nationwide.
Underwater borrowers represented more than half of HARP volume in Nevada and Arizona and 40 to 50 percent of HARP refinances in Florida, Idaho and California.
May 2012 Refinance Report
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.7 trillion in funding for the U.S. mortgage markets and financial institutions.
© 2016 Federal Housing Finance Agency