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 2016 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 6, 2014 to a 5-year term as the first Senate-confirmed Director of FHFA.
Read more about Director Watt
An independent regulatory agency, we oversee vital components of the secondary mortgage market including Fannie Mae, Freddie Mac and the Federal Home Loan Banks. Our goal is to keep them, and the overall housing finance system, healthy.
The Federal Housing Finance Agency (FHFA) was established by the
Housing and Economic Recovery Act of 2008 (HERA) and is responsible for the effective supervision, regulation, and housing mission oversight of
Fannie Mae, Freddie Mac (the Enterprises) and the
Federal Home Loan Bank System, which includes the 11 Federal Home Loan Banks (FHLBanks) and the Office of Finance. Since 2008, FHFA has also served as conservator of Fannie Mae and Freddie Mac.
Freddie Mac and the
FHLBank System provide more than $5.9 trillion in funding for the U.S. mortgage markets and financial institutions.
Click image for larger version.
Established credit risk transfer programs, with both Enterprises now regularly transferring substantial credit risk to private investors
Creation of new securitization infrastructure for mortgage loans backed by single-family properties
Implemented loss mitigation activities enabling homeowners to stay in their home, avoid foreclosure, and stabilize neighborhoods
In addition to prudential supervision and regulation of Fannie Mae and Freddie Mac, FHFA continues to oversee the unprecedented conservatorships of the Enterprises. In carrying out this responsibility, FHFA has established a
Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac, which sets out three strategic goals:
In a safe and sound manner, maintain credit availability and foreclosure prevention activities for new and refinanced mortgages to foster liquid, efficient, competitive, and resilient national housing finance markets.
Decrease taxpayer risk through increasing the role of private capital in the mortgage market.
Construct a new single-family securitization infrastructure for use by the Enterprises and adaptable for use by other participants in the secondary market in the future.
Federal Home Loan Bank System was created by the
Federal Home Loan Bank Act as a government sponsored enterprise to support mortgage lending and related community investment.
The FHLBank System provides its members (thrift institutions, commercial banks, credit unions, insurance companies, and certified community development financial institutions) with a source of funding for mortgages and asset-liability management, liquidity for their short-term needs, and additional funds for housing finance and community development. Approximately 80 percent of U.S. lending institutions rely on the FHLBanks.
FHFA conducts on-site annual examinations and off-site monitoring of the FHLBanks and the Office of Finance. In addition, FHFA oversees the FHLBanks' affordable housing and community investment activities. This includes FHLBank allocations for the
Affordable Housing Program, which provides funding for affordable rental housing and down payment assistance.
11 FHLBanks were
profitable in 2015
Net income $2.9 billion
Total assets increased 6.1 percent to $969.6 billion
PDF version of 11 Federal Home Loan Bank Districts map.
FHFA is a member agency of the Financial Stability Oversight Council. The Council is charged with identifying risks to the financial stability of the United States; promoting market discipline; and responding to emerging risks to the stability of the United States' financial system.
The other members of the Council are:
Board of Governors Federal Reserve System
Commodity Futures Trading Commission
Consumer Financial Protection Bureau
Federal Deposit Insurance Corporation
National Credit Union Administration
Office of the Comptroller of the Currency
Securities and Exchange Commission
© 2017 Federal Housing Finance Agency