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​The Federal Housing Finance Agency’s (FHFA) first Report to Congress presents the findings of the agency’s 2008 annual examinations of Fannie Mae and Freddie Mac (Enterprises), the 12 Federal Home Loan Banks (FHLBanks), and the Office of Finance. This report meets the statutory requirements of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery A​​ct of 2008 (HERA). The views in this report are those of FHFA and do not necessarily represent those of the President. Related News Release​

FHF Oversight Board Assessment
Year in Review

• Economic Recession and Deepening Financial Crisis
• Deteriorating Housing and Mortgage Markets
• Enterprise Conservatorships and Treasury Support
• Business Volumes

Report of Annual Examination of Fannie Mae (Federal National Mortgage Association)

• Examination Authority and Scope
• Examination Conclusions
• Governance
• Solvency
• Earnings
• Credit Risk Management
• Market Risk Management
• Operational Risk Management

Report of Annual Examination of Freddie Mac (Federal Home Loan Mortgage Corporation)

• Examination Authority and Scope
• Examination Conclusions
• Governance
• Solvency
• Earnings
• Credit Risk Management
• Market Risk Management
• Operational Risk Management

Report of Annual Examinations of Federal Home Loan Banks

• Examination Authority and Scope
• Governance
• Financial Condition and Performance
• Credit Risk Management
• Market Risk Management
• Operational Risk Management
• FHLBanks’ Examination Conclusions
• Director Compensation

Accounting

• Accounting for Financial Assets
• Standards Setter Would Eliminate Mixed-Attribute Accounting
• Conclusion

Supervisory Actions

• Conservatorship
• Consent Order and Other Supervisory Agreements
• Other Supervisory Actions

Housing Mission and Goals

• Affordable Housing Goals
• Foreclosure Prevention
• FHLBanks’ Targeted Affordable Housing and Community Investment Activities
• FHLBank Affordable Housing Examination Conclusions

Regulatory Guidance

• Regulations
• Policy Guidance
• FHFA Research and Publications
• Research Products
• House Price Index

FHFA Operations and Performance

• Performance and Program Assessment
• Financial Operations

Historical Data Tables