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 2022 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.
As conservator, FHFA is focused on ensuring that each Enterprise builds capital and improves its safety and soundness.
1.
Operate the business in a safe and sound manner.
2.
Promote sustainable and equitable access to affordable housing.
2023 Scorecard
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.
Source: FHFA
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The Enterprises' Foreclosure Prevention Actions:
The Enterprises completed 96,945 foreclosure prevention actions in the second quarter of 2022, bringing the total to 6,591,002 since the start of conservatorships in September 2008. Of these actions, 5,887,049 have helped troubled homeowners stay in their homes, including 2,583,016 permanent loan modifications.
Initiated forbearance plans decreased to 41,054 in the second quarter from 59,778 in the first quarter of 2022. The total number of loans in forbearance at the end of the quarter was 90,889, representing approximately 0.29 percent of the total loans serviced, and 17 percent of the total delinquent loans.
Seven percent of modifications in the second quarter were modifications with principal forbearance. Modifications that include reduce rate and extend-term accounted for 75 percent of all loan modifications during the quarter.
There were 250 completed short sales and deeds-in-lieu during the quarter, bringing the total to 703,953 since the conservatorships began in September 2008.
The Enterprises' Mortgage Performance:
The 60+ days delinquency rate dropped from 1.11 percent at the end of the first quarter to 0.92 percent at the end of the second quarter of 2022. The delinquency rates remained higher than pre-coronavirus rates due to the forbearance programs offered to borrowers affected by the pandemic.
The Enterprises' serious (90 days or more) delinquency rate dropped to 0.79 percent at the end of the second quarter. This compared with 4.64 percent for Federal Housing Administration (FHA) loans, 2.83 percent for Veterans Affairs (VA) loans, and 2.12 percent for all loans (industry average).
The Enterprises' Foreclosures:
Foreclosure starts declined 6 percent to 19,388 while third-party and foreclosure sales increased 3 percent to 3,458 in the second quarter.
For an interactive online map that provides state data, click on the following link: Fannie Mae and Freddie Mac State Borrower Assistance Map
For an interactive online map that provides state data, click on the following link:
Fannie Mae and Freddie Mac State Borrower Assistance Map
Total refinance volume decreased in June 2022 amid rising mortgage rates through May. Mortgage rates rose in June: the average interest rate on a 30-year fixed rate mortgage increased to 5.52 percent from a April level of 5.23 percent, reaching levels last observed in 2008.
The percentage of borrowers refinancing into shorter term 15-year fixed rate mortgages decreased to 18 percent in May, with borrowers finding the greater monthly affordability of 30-year fixed rate mortgages amid rising rates more attractive than the increased interest rate savings of 15-year fixed rate mortgages which inched toward one percent.
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