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Mission Report: Affordable Housing Activities of the Regulated Entities

2021 Mission Report: Affordable Housing Activities of the Regulated Entities

Published: 6/6/2022

​​​​​The Federal Housing Finance Agency (FHFA), as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises), and as regulator of the ​Federal Home Loan Banks (FHLBanks), is responsible for their effective supervision, regulation, and mission oversight. This inaugural report provides an overview of the full range of mission activities carried out by FHFA's regulated entities over a calendar year.

The Enterprises and the FHLBanks are federally chartered government-sponsored enterprises that support the housing finance market while fulfilling their responsibilities to support affordable housing throughout the nation, particularly in underserved communities. The FHLBanks also have targeted economic development support obligations.

Each regulated entity operates its own mission programs, under the guidance and oversight of FHFA. These activities range from purchase targets for mortgages obtained by borrowers below a certain threshold of an Area Median Income (AMI), to a dedicated focus on rural communities, manufactured housing, and affordable housing preservation under the Duty to Serve (DTS) program, to the FHLBank members targeted economic development lending by their member institutions, and more. Together, these activities support greater access to financing for affordable, equitable, and sustainable housing in a safe and sound manner.

FHFA supervises the following mission programs and initiatives:

Enterprises ​Federal Home Loan Banks
Housing Goals​Affordable Housing Program (AHP)
Duty to Serve Community Investment Program (CIP), Housing
Fair Lending* Community Investment Cash Advance (CICA) Program
​Conservatorship ScorecardHousing Goals
​ ​

* Note: ​FHFA conducts Fair Lending supervision and oversight for the Enterprises and FHLBanks. The Fair Lending section presented in this report focuses on Enterprise loan applications and acquisitions.

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