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
FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector. Meet the experts...
Glossaries
COVID-19 Resources
The Enterprises' Foreclosure Prevention Actions:
The Enterprises completed 16,738 foreclosure prevention actions in April, bringing the total to 4,450,614 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.
There were 4,528 permanent loan modifications in April, bringing the total to 2,411,383 since the conservatorships began in September 2008.
Nineteen percent of modifications in April were modifications with principal forbearance. Modifications with extend-term only accounted for 67 percent of all loan modifications during the month.
Initiated forbearance plans jumped significantly to 989,594 in April from 165,431 in March, bringing the total number of loans in forbearance plans to 1,149,188, representing approximately 4.1% of the total loans serviced.
There were 326 short sales and deeds-in-lieu of foreclosure completed in April, down 5 percent compared with March 2020.
The Enterprises' Mortgage Performance:
30-59 days delinquency rate rose to 3.47 percent while serious delinquency rate increased from 0.64 percent at the end of March to 0.68 percent at the end of April.
The Enterprises' Foreclosures:
Third-party and foreclosure sales dropped 83 percent from 1,988 in March to 344 in April due to the suspension of foreclosures.
Foreclosure starts also dropped from 8,293 in March to 3,229 in April due to the suspension of foreclosures.
Total refinance volume sharply increased in April 2020 to levels last observed in 2013 as mortgage rates in fell in previous months. Mortgage rates decreased further in April: the average interest rate on a 30-year fixed rate mortgage fell to 3.31 percent from 3.45 percent in March.
In April 2020, 13 refinances were completed through the High LTV Refinance Option, bringing total refinances through the High LTV Refinance Option from the inception of the program to 32.
The percentage of cash-out refinances decreased to 30 percent in April from 36 percent in March. Mortgage rates have continued to fall from the highs observed a year ago, creating more opportunities for non cash-out borrowers to refinance at lower rates and lower their monthly payments.
