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FANNIE MAE AND FREDDIE MAC Reports


 

Fannie Mae and Freddie Mac (the Enterprises) were created by Congress to provide stability and liquidity in the secondary housing finance market. These reports are related to Fannie Mae’s and Freddie Mac’s activities to meet their mission and the Enterprises’ financial performance and condition.



 

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 Recent Fannie Mae and Freddie Mac Reports

 

 

Prepayment Monitoring Report Fourth Quarter 2020328953/2/2021 5:00:00 AM<p>On June 3, 2019, Fannie Mae and Freddie Mac began issuing a new common mortgage-backed security, known as the Uniform Mortgage-Backed Securities or UMBS, through their jointly developed Common Securitization Platform, bringing to fruition important elements of FHFA's <a href="/AboutUs/Reports/Pages/2014-Conservatorships-Strategic-Plan.aspx"> <strong> <em>2014 Strategic Plan for the Conservatorships of</em></strong></a>&#160;<a href="/AboutUs/Reports/Pages/2014-Conservatorships-Strategic-Plan.aspx"><strong><em>Fannie Mae and Freddie Mac</em></strong></a>.&#160; On March 12, 2019 forward trading of UMBS began in the “To-Be-Announced&quot; (TBA) market<a href="#footNote1">[1]</a>, with first settlements of the UMBS trades coinciding with their initial issuance by the Enterprises on June 3, 2019.</p><p>FHFA encouraged Fannie Mae and Freddie Mac to develop this new security to broaden and enhance liquidity in the secondary market for residential mortgages and to reduce costs to taxpayers.<a href="#footNote2">[2]</a>&#160; To address those goals, UMBS issued by Fannie Mae and Freddie Mac trade in the TBA market without regard to which Enterprise is the issuer, effectively merging the formerly separate markets for mortgage-backed securities issued by each Enterprise. </p><p>Consistency of prepayment rates is important to the success of UMBS and to the efficiency and liquidity of the secondary mortgage market.&#160; Some industry stakeholders have expressed concern that the rates of prepayment of the Enterprises' securities might materially diverge and undermine their fungibility.&#160; FHFA has taken a number of steps to promote the continued consistency of prepayment rates of Fannie Mae- and Freddie Mac-issued mortgage-backed securities (MBS).&#160; This quarterly report provides market participants additional transparency into a sample of the data FHFA receives and reviews on a monthly basis.</p><p> <em>Ex post </em>monitoring of prepayment rates is part of a broader effort to assure investors that cash flows from UMBS will be similar regardless of which Enterprise is the issuer.&#160; This report provides insight into how FHFA monitors the consistency of prepayment rates across cohorts of the Enterprises' TBA-eligible MBS,<a href="#footNote3">[3]</a> where a cohort consists of those Enterprise TBA-eligible securities with the same coupon, maturity, and loan-origination year and total combined issuance across the Enterprises exceeds $10 billion.&#160; A prepayment on a mortgage loan is the amount of principal paid in advance of the loan's scheduled payments. &#160;Full prepayment occurs when a borrower pays off the loan ahead of the scheduled maturity.&#160; If a borrower defaults on the mortgage loan, the Enterprise will pay investors the remaining principal balance and remove the loan from the MBS.&#160; That action has the same effect on investors as a full prepayment. &#160;Partial prepayment occurs when a borrower pays principal in addition to the regularly scheduled payment of principal and interest.</p><p> <br>&#160;</p><p> <a name="footNote1">[1]</a> The TBA market is a forward market for certain mortgage-backed securities, including those issued by Fannie Mae and Freddie Mac.</p><p> <a name="footNote2">[2]</a> See <a href="/AboutUs/Reports/ReportDocuments/Single%20Security%20Update%20final.pdf"> <em>An Update on the Structure of the Single Security</em></a>, May 2015, p. 4.</p><p> <a name="footNote3">[3]</a> To avoid double counting, only first-level securitizations are included in the analysis. Second-level securitizations (Megas, Giants, and Supers) are excluded, with the exception of fastest quartile analyses and Table 2 (Quartile Report).&#160; For those exceptions, Freddie Mac multi-lender second-level securitizations traded as a single security are included and the related first-level securitizations are excluded to avoid double counting.&#160;</p>3/2/2021 8:30:49 PMHome / About FHFA / Reports / Prepayment Monitoring Report Fourth Quarter 2020 Prepayment Monitoring 356https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - 2020 Q4318482/23/2021 5:00:00 AM<p> <strong>Washington, D.C. </strong>– U.S. house prices rose <strong>10.8 percent </strong>from the fourth quarter of 2019 to the fourth quarter of 2020 according to the Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices were up <strong>3.8 percent </strong>compared to the third quarter of 2020. FHFA's seasonally adjusted monthly index for December was up <strong>1.1 percent </strong>from November.</p><p>“House prices nationwide recorded the largest annual and quarterly increase in the history of the FHFA HPI,&quot; said Dr. Lynn Fisher, Deputy Director of FHFA's Division of Research and Statistics. “Low mortgage rates, pent up demand from homebuyers, and a limited housing supply propelled every region of the country to experience faster growth in 2020 compared to a year ago despite the pandemic. In particular, house prices in western states and cities saw the highest rates of growth, where annual gains often rose above 10 percent.&quot;</p><p>View highlights video featuring Dr. Lynn Fisher at <a href="https&#58;//youtu.be/kF8KSDAstbE">https&#58;//youtu.be/kF8KSDAstbE</a>.</p><p><a href="/Media/PublicAffairs/Pages/US-House-Prices-Rise-10pt8-Percent-over-the-Last-Year-Up-3pt8-Percent-in-4Q.aspx">Related News Release</a>​ </p>2/23/2021 2:00:43 PMHome / About FHFA / Reports / U.S. House Price Index Report - 2020 Q4 House Price Index 4216https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
2021 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions316372/16/2021 5:00:00 AM<p>​​​The Federal Housing Finance Agency (FHFA) today released the 2021&#160;Scorecard outlining specific conservatorship priorities for Fannie Mae, Freddie Mac (the Enterprises), and their joint venture, Common Securitization Solutions, LLC (CSS).&#160;The purpose of the 2021 Scorecard is to ensure that Fannie Mae and Freddie Mac (the Enterprises) and Common Securitization Solutions, LLC (CSS) focus on their core mission responsibilities, operate in a manner appropriate for entities in conservatorships with limited capital buffers, and undertake those activities necessary to support an exit from conservatorship.&#160;<br></p><p>The three objectives of the&#160;2021 Scorecard are to&#160;ensure the Enterprises continue to&#58;<br></p><ol><li>Focus on their core mission responsibilities to foster competitive, liquid, efficient, and resilient (CLEAR) national housing finance markets that support sustainable homeownership and affordable rental housing;</li><li>Operate in a safe and sound manner appropriate for entities in conservatorship; and </li><li>Prepare for their eventual exits from the conservatorships.</li></ol><p></p><p><a href="/AboutUs/Reports/ReportDocuments/2021-Scorecard.pdf"><span style="font-family&#58;inherit;font-size&#58;inherit;font-style&#58;normal;"><strong>2021 Scorecar</strong></span><span style="font-family&#58;inherit;font-size&#58;inherit;font-style&#58;normal;"><strong>d</strong></span>​</a></p><p><a href="/AboutUs/Reports/ReportDocuments/2021-Scorecard.pdf"><span style="font-style&#58;normal;"></span></a><a href="/Media/PublicAffairs/Pages/FHFA-Releases-Scorecard-for-Fannie-Freddie-and-CSS_2162021.aspx">Related News Release</a>​<span style="font-style&#58;normal;">​​</span><br></p>2/16/2021 3:00:51 PMHome / About FHFA / Reports / 2021 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions The Federal Housing Finance Agency (FHFA) today released the 2021 968https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance and FPM Report - November 2020316292/12/2021 5:00:00 AM<h2>​​​November 2020&#160;Highlights - Foreclosure Prevention</h2><div> <strong></strong>&#160;</div><div> <strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong><br></div><div><ul><li>The Enterprises completed 107,609 foreclosure prevention actions in November, bringing&#160;the total to 5,499,159 since the start of the conservatorships in September 2008.&#160;Approximately 44 percent of these actions have been permanent loan modifications.</li><li>There were 2,624 permanent loan modifications in November, bringing the total to&#160;2,437,133 since the conservatorships began in September 2008.<br></li><li>Fourteen&#160;percent of modifications in November were modifications with principal&#160;forbearance. Modifications with extend-term only accounted for 68 percent of all loan&#160;modifications during the month.</li><li>The number of borrowers who received payment deferrals after completing a COVID-19&#160;related forbearance plan increased from 83,404 in October to 57,133 in November.<br></li><li>Initiated forbearance plans&#160;increased slightly from&#160;58,516 in&#160;October to 59,203 in November. The total number of loans in forbearance plans decreased from 922,589 at the end of October to 841,977 at the end of November, representing approximately 2.90% of the total loans serviced, and 69 percent of the total delinquent loans.</li><li>There were&#160;239 short sales and deeds-in-lieu of foreclosure completed in November, down 24 percent compared with October.</li></ul></div><div> <strong>The Enterprises' Mortgage Performance&#58;&#160;</strong></div><div><ul><li>The 30-59 days delinquency rate increased slightly to 1.02 percent, while the serious delinquency rate dropped from 2.99 percent at the end of October to 2.88 percent at the end of November.</li></ul></div><div> <strong>The Enterprises' Foreclosures&#58;</strong><br></div><div><ul><li>​Third-party and foreclosure sales decreased 19 percent to&#160;602 while foreclosure starts&#160;decreased&#160;38 percent to&#160;1,540 in November.<br></li></ul></div><h2>November&#160;2020 Highlights - Refinance Activities</h2><div><ul><li>Total refinance volume rose and continued in record breaking territory in November 2020 as mortgage rates continued to decrease through October. Mortgage rates decreased further in November&#58; the average interest rate on a 30-year fixed rate mortgage fell to 2.77 percent from 2.83 percent in October.</li><li>In November,&#160;19 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 126.</li><li>The percentage of cash-out refinances&#160;continued at&#160;26 percent in November from October,&#160;after steadily decreasing in earlier months to a low of 25 percent in August. Mortgage rates have continued to fall, creating more opportunities for non&#160;cash-out borrowers to refinance at lower rates and lower their monthly payments.&#160;<br></li></ul></div>2/12/2021 4:00:46 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance and FPM Report - November 2020 Foreclosure 513https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance and FPM Report - October 2020317451/27/2021 5:00:00 AM<h2>​​​October 2020&#160;Highlights -- Foreclosure Prevention</h2><div><strong></strong>&#160;</div><div><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong><br></div><div><ul><li>The Enterprises completed 166,189 foreclosure prevention actions in October, bringing&#160;the total to 5,391,530 since the start of the conservatorships in September 2008.&#160;Approximately 45 percent of these actions have been permanent loan modifications.</li><li>There were 2,890 permanent loan modifications in October, bringing the total to&#160;2,434,509 since the conservatorships began in September 2008.<br></li><li>Eighteen percent of modifications in October were modifications with principal&#160;forbearance. Modifications with extend-term only accounted for 65 percent of all loan&#160;modifications during the month.</li><li>The number of borrowers who received payment deferrals after completing a COVID-19&#160;related forbearance plan increased from 72,589 in September to 83,384 in October.<br></li><li>Initiated forbearance plans decreased 9 percent from 64,179 in September to 58,516 in&#160;October. The total number of loans in forbearance plans decreased from 1,045,808 at the&#160;end of September to 922,589 at the end of October, representing approximately 3.22% of&#160;the total loans serviced, and 74 percent of the total delinquent loans.</li><li>There were 315 short sales and deeds-in-lieu of foreclosure completed in October, up 7&#160;percent compared with September.</li></ul></div><div><strong>The Enterprises' Mortgage Performance&#58;&#160;</strong></div><div><ul><li>The 30-59 days delinquency rate decreased to 1.01 percent, while the serious&#160;delinquency rate dropped from 3.14 percent at the end of September to 2.99 percent at the end of October.</li></ul></div><div><strong>The Enterprises' Foreclosures&#58;</strong><br></div><div><ul><li>​Third-party and foreclosure sales increased 19 percent to 741 while foreclosure starts&#160;decreased 13 percent to 2,474 in October.<br></li></ul></div><h2>October 2020 Highlights - Refinance Activities</h2><div><ul><li>Total refinance volume rose and continued in record breaking territory in October 2020 as mortgage rates continued to decrease though September. Mortgage rates decreased further in October&#58; the average interest rate on a 30-year fixed rate mortgage fell to 2.83 percent from 2.89 percent in September.</li><li>In October, 2 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 107.</li><li>The percentage of cash-out refinances increased to 26 percent in October after steadily decreasing in earlier months to a low of 25 percent in August, and rising slightly in September. Mortgage rates have continued to fall, creating more opportunities for non&#160;cash-out borrowers to refinance at lower rates and lower their monthly payments.&#160;<br></li></ul></div>1/27/2021 4:00:43 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance and FPM Report - October 2020 Foreclosure 566https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index January 2021317401/26/2021 5:00:00 AM<p>​House prices rose nationwide in November, up <strong>1.0</strong> percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®).&#160; House prices rose <strong>11.0</strong> percent from November 2019 to November 2020. The previously reported 1.5 percent price change for October 2020 remained unchanged.</p><p>For the nine census divisions, seasonally adjusted monthly house price changes from October 2020 to November 2020 ranged from <strong>+0.3</strong> percent in the West South Central division to <strong>+1.6</strong> percent in the Pacific division.&#160; The 12-month changes ranged from <strong>+8.7</strong> percent in the West South Central division to <strong>+14.0</strong> percent in the Mountain division.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the tables and graphs on the following pages. Downloadable data and HPI release dates for all of 2020 and 2021&#160;are available here&#58; <a href="/HPI"> https&#58;//www.fhfa.gov/HPI</a>.</p><p><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-1pt0-Percent-in-November-Up-11pt0-Percent-from-Last-Year.aspx">Related News Release</a></p>1/26/2021 2:00:56 PMHome / About FHFA / Reports / U.S. House Price Index January 2021 House Price Index 4295https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index December 20203157912/23/2020 5:00:00 AM<p>​House prices rose nationwide in October, up <strong>1.5</strong> percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). &#160;House prices rose <strong>10.2</strong> percent from October 2019 to October 2020. The previously reported 1.7 percent price change for September 2020 remained unchanged.</p><p>For the nine census divisions, seasonally adjusted monthly house price changes from September 2020 to October 2020 ranged from <strong>+0.9</strong> percent in the West North Central and East South Central divisions to <strong>+2.1</strong> percent in the New England division.&#160; The 12-month changes ranged from <strong>+8.4</strong> percent in the West South Central division to <strong>+12.5</strong> percent in the Mountain and New England divisions.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the tables and graphs on the following pages. Downloadable data and HPI release dates for all of 2020 and 2021&#160;are available here&#58; <a href="/DataTools/Downloads/Pages/House-Price-Index.aspx"> https&#58;//www.fhfa.gov/HPI</a>.</p><p> <a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-1pt5-Percent-in-October-Up-10pt2-Percent-from-Last-Year.aspx">Related News Release</a></p>12/23/2020 2:01:10 PMHome / About FHFA / Reports / U.S. House Price Index December 2020 House Price Index 17984https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Refinance and FPM Report Third Quarter 20203156312/17/2020 5:00:00 AM<h2 style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;font-family&#58;lato, sans-serif;font-size&#58;22px;font-weight&#58;900;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;">3Q20 Highlights —&#160;Foreclosure Prevention<br></h2><p style="padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"> <span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;700 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises' Foreclosure Prevention Actions&#58;</span></p><ul style="margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises completed 539,451&#160;foreclosure prevention actions in the&#160;third&#160;quarter, bringing the total to 5,225,341&#160;since the start of conservatorships in September 2008. Of these actions, 4,524,821&#160;have helped troubled homeowners&#160;stay in their homes, including 2,431,619&#160;permanent loan modifications.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">Initiated forbearance plans&#160;dropped significantly&#160;to&#160;230,714&#160;in the&#160;third&#160;quarter from 1,511,787 in the second&#160;quarter. The total number of loans in forbearance plans at the end of the quarter was 1,045,808, representing approximately 3.66% of the total loans serviced, and&#160;79 percent of the total delinquent loans.&#160;<br></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">Twenty&#160;percent of modifications in the&#160;third quarter were modifications with principal forbearance. Modifications with extend-term only accounted for 64&#160;percent of all loan modifications during the quarter.</li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">There were 924&#160;completed short sales and deeds-in-lieu during the quarter, bringing the total to 700,520&#160;since the conservatorships began in September 2008.​<br><br></li></ul><p style="padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"> <span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;700 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises' Mortgage Performance&#58;</span></p><ul style="margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">The 60+ days delinquency rate&#160;decreased from 4.08 percent at the end of the&#160;second quarter to&#160;3.58 percent at the end of the&#160;third quarter.&#160;&#160;The delinquency rates remained much higher than pre-coronavirus rates due to the forbearance programs being offered to borrowers affected by the pandemic.&#160;<br></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises' serious (90 days or more) delinquency rate&#160;jumped to&#160;3.14&#160;percent at the end of the&#160;third&#160;quarter. This compared with 10.76&#160;percent for Federal Housing Administration (FHA) loans,&#160;5.77&#160;percent for&#160;Veterans Affairs (VA) loans, and&#160;5.16&#160;percent for all loans (industry average).​<br><br></li></ul><p style="padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"> <span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;700 !important;vertical-align&#58;baseline;font-stretch&#58;inherit;">The Enterprises' Foreclosures&#58;</span></p><ul style="margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">​Foreclosure starts decreased&#160;10&#160;percent to&#160;6,809&#160;while third-party and foreclosure sales&#160;increased 75&#160;percent to 1,794 in the&#160;third quarter.</li></ul><blockquote style="margin&#58;0px 0px 0px 40px;padding&#58;0px;border&#58;currentcolor;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><p style="padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;line-height&#58;22px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;"> <em style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">​For an interactive online map that provides state data, click on the following link&#58;&#160;</em></p><p style="padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040 !important;line-height&#58;22px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;"> <em style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-variant&#58;inherit;font-weight&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;"></em> <a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx" style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#276598;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;600;vertical-align&#58;baseline;font-stretch&#58;inherit;">Fannie Mae and Freddie Mac State Borrower Assistance Map</a>​<br></p></blockquote> <span style="font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;background-color&#58;#ffffff;">​</span> <h2 style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;font-family&#58;lato, sans-serif;font-size&#58;22px;font-weight&#58;900;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;">3Q20 Highlights ​— Refinance Activities​​<br><br></h2><ul style="margin&#58;0px 0px 0px 20px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;"> <span style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">​​Total refinance volume fell in September 2020 but remained in record level territory as mortgage rates continued to decrease through August. Mortgage rates decreased further in September&#58; the average interest rate on a 30-year fixed rate mortgage fell to 2.89 percent from 2.94 percent in August.</span></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">In the third quarter of 2020, 35 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 105.<br></li><li style="margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;border&#58;0px currentcolor;line-height&#58;16px;font-style&#58;inherit;font-variant&#58;inherit;vertical-align&#58;baseline;font-stretch&#58;inherit;">The percentage of cash-out refinances increased to 25 percent in September from 24 percent in August, after steadily decreasing in previous months. Mortgage rates have continued to fall, creating more opportunities for non cash-out borrowers to refinance at lower rates and lower their monthly payments.<br><br></li></ul><div style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;vertical-align&#58;baseline;font-stretch&#58;inherit;background-color&#58;#ffffff;"> <a href="/Media/PublicAffairs/Pages/FHFA-Releases-3rd-Quarter-Foreclosure-Prevention-and-Refinance-Report.aspx">Related News Release​</a>&#160;<a href="/AboutUs/Reports/Pages/Forms/EditForm.aspx?ID=951" style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#276598;line-height&#58;inherit;font-family&#58;inherit;font-size&#58;inherit;font-style&#58;inherit;font-variant&#58;inherit;font-weight&#58;600;vertical-align&#58;baseline;font-stretch&#58;inherit;">​</a><br><br></div>12/17/2020 7:00:43 PMHome / About FHFA / Reports / Foreclosure Prevention Refinance and FPM Report Third Quarter 2020 The Enterprises completed 539,451 foreclosure prevention actions in the third 695https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Enterprise Non-Performing Loan Sales - June 20203154712/15/2020 5:00:00 AM<p>​​The Enterprise&#160;Non-Performing Loan Sales Report&#160;includes information about NPLs sold through June 30, 2020 and reflects borrower outcomes on NPLs sold through<span class="ms-rteThemeBackColor-1-0">&#160;December 31, 2019 and reported through&#160;June 30, 2020</span>.&#160; The sale of NPLs reduces the number of delinquent loans in the Enterprises' portfolios and transfers credit risk to the private sector.&#160; FHFA and the Enterprises impose&#160;<a href="/Media/PublicAffairs/Pages/Non-Performing-Loan-Sale-Guidelines.aspx">requirements</a>&#160;on NPL buyers designed to achieve more favorable outcomes for borrowers than foreclosure.&#160;</p><p><span class="ms-rteThemeBackColor-1-0">This report shows that from the program inception in 2014&#160;through June 30, 2020, the Enterprises sold 128,471 NPLs with a total unpaid principal balance (UPB) of $24.1 billion. From December 31, 2015&#160;to June 30, 2020, the number of loans one or more&#160; years delinquent held in the Enterprises' portfolios decreased by 70 percent.&#160;​</span></p><p><span class="ms-rteThemeBackColor-1-0"><a href="/Media/PublicAffairs/Pages/FHFA-Releases-Report-on-Non-performing-Loan-Sales-12152020.aspx">Related News Release​</a></span></p>12/15/2020 4:00:28 PMHome / About FHFA / Reports / Enterprise Non-Performing Loan Sales - June 2020 Enterprise Non-Performing 486https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Fannie Mae and Freddie Mac Single-Family Guarantee Fees in 20193153912/14/2020 5:00:00 AM<p>Section 1601 of the Housing and Economic Recovery Act of 2008 (HERA) requires the Federal Housing Finance Agency (FHFA) to conduct an ongoing study of the guarantee fees charged by Fannie Mae and Freddie Mac (the Enterprises) and to submit a report to Congress each year.<a href="file&#58;///C&#58;/users/navarroj/Work%20Folders/Desktop/GFee-Report-2019.docx"></a><a href="#footnote1">[1]</a>&#160; The report is required to contain an analysis of the average guarantee fee and a breakdown by product type, risk class, and size.&#160; The report also must analyze the costs of providing the guarantee and provide a comparison to the prior year.<a href="#footnote2">[2]</a>&#160; The report assists Congress in its oversight responsibilities. FHFA issued the first single-family guarantee fee report in 2009.<a href="#footnote3">[3]</a>&#160; </p><p>This report discusses the guarantee fees charged in 2019 and provides a three-year perspective with data back to 2017.<a href="#footnote4">[4]</a>&#160; The major findings in this report are&#58; <a href="#footnote5">[5]</a></p><ul><li><p>For all loan products combined, the average single-family guarantee fee in 2019 increased 1 basis point to 56 basis points.&#160; </p></li><li><p>The upfront portion of the guarantee fee, which is based on the credit risk attributes (e.g., loan purpose, loan-to-value (LTV) ratio, and credit score), decreased 2 basis points to 13 basis points.<a href="#footnote6">[6]</a>&#160; </p></li><li><p>The ongoing portion of the guarantee fee, which is based on the product type (fixed-rate or adjustable-rate, and loan term), increased 3 basis points to 43 basis points. </p></li><li><p>The average guarantee fee in 2019 on 30-year fixed rate loans increased 2 basis points to 58 basis points, while the fee on 15-year fixed rate loans decreased by 1 basis point to 36 basis points.&#160; The fee on adjustable-rate mortgage (ARM) loans increased 2 basis points to 56 basis points.</p></li><li><p>For each LTV and credit score group, the average guarantee fee increased by 1-3 basis points.&#160; </p></li><li><p>The average guarantee fee by seller size was 55 basis points for the large (L) seller group, and 56 basis points for the medium (M) and small (S) seller groups. </p></li></ul><p>Questions and comments about this report may be addressed to FHFA at&#58; <a href="/AboutUs/Contact/Pages/General-Questions-and-Comments.aspx">https&#58;//www.fhfa.gov/AboutUs/Contact/Pages/General-Questions-and-Comments.aspx</a></p><p><a href="/Media/PublicAffairs/Pages/FHFA-Issues-2019-Report-to-Congress-on-Guarantee-Fees.aspx">Related News Release</a></p><p> <br> <br>&#160;</p><hr width="25%" align="left" /><p> <a name="#footnote1">[1]</a> See Section 1601 of the Housing and Economic Recovery Act of 2008, Public Law 110-289, 122 Stat 2824 at <a href="https&#58;//www.congress.gov/110/plaws/publ289/PLAW-110publ289.pdf">https&#58;//www.congress.gov/110/plaws/publ289/PLAW-110publ289.pdf</a>.</p><p> <a name="#footnote2">[2]</a> In lieu of presenting costs of providing the guarantee, we present the difference between the revenue (guarantee fees) received and the estimated cost of guaranteeing a loan for a given target rate of return on capital.&#160; </p><p> <a name="#footnote3">[3]</a> See prior guarantee fee reports at <a href="https&#58;//go.usa.gov/xP6mE">https&#58;//go.usa.gov/xP6mE</a>.</p><p> <a name="#footnote4">[4]</a> The five-year perspective of prior guarantee fee reports is replaced with a three-year perspective in this year's report due to changes in data source and methodology for certain tables and figures. Prior-year data in the text and subsequent tables and charts may not be consistent with data in previous FHFA reports due to such changes or data corrections.&#160; </p><p> <a name="#footnote5">[5]</a> Due to rounding, the individual numbers in the text, tables, and charts may not compute exactly to the totals.</p><p> <a name="#footnote6">[6]</a> Fannie Mae refers to upfront fees as “loan level price adjustments,&quot; while Freddie Mac refers to them as “credit fees in price.&quot;&#160; Upfront fees are converted to an annual g-fee equivalent by dividing the upfront fee by the expected number of years a loan will remain outstanding.&#160; Depending on the attributes of the loan, a typical new 30-year loan may be expected on average to exist for about 6 years, whereas a 15-year loan may be expected to last for closer to 4 years.</p>12/14/2020 4:00:07 PMHome / About FHFA / Reports / Fannie Mae and Freddie Mac Single-Family Guarantee Fees in 2019 Single 1176https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

​Note: Some of FHFA’s reports have evolved over time. On December 2, 2008, FHFA submitted the first Federal Property Manager’s Report to Congress and until May 2012 these reports included refinance activity.  After May 2012, the Federal Property Manager’s Report contained the same content as the monthly and quarterly Foreclosure Prevention Reports, so the Federal Property Manager’s Report was no longer released separately.

View Federal Property Manager’s Reports from December 2008 – April 2012.

View Refinance Reports.


 




​Fannie Mae and Freddie Mac Datasets

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