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 2020 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.
Operate the business in a safe and sound manner.
Promote sustainable and equitable access to affordable housing.
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.
FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector. Meet the experts...
As the conservator of Fannie Mae and Freddie Mac, we help guide their business decisions to protect America’s homeowners now and build a sound infrastructure for future mortgage finance markets.
On July 30, 2008, President George W. Bush signed Public Law 110-289, the
Housing and Economic Recovery Act of 2008 (HERA), which established FHFA, giving the Agency authority to place regulated entities into conservatorship or receivership.
Fannie Mae and Freddie Mac were placed into conservatorships upon the consent of each board of directors on September 6, 2008. FHFA and the U.S. Department of the Treasury publicly announced details of the conservatorships on September 7, 2008. Read more on History of Fannie Mae & Freddie Mac Conservatorships page.
Fannie Mae and Freddie Mac are in conservatorship to preserve and conserve their assets and property and restore them to a sound and solvent condition so they can continue to fulfill their statutory missions.
As conservator, FHFA has the powers of the management, boards, and shareholders of Fannie Mae and Freddie Mac. Fannie Mae and Freddie Mac continue to operate as business corporations.
FHFA is responsible for the overall management of Fannie Mae and Freddie Mac and has informed the Enterprises which decision-making functions should be performed by the Enterprises' boards of directors and/or management teams. The boards and management teams must consult with FHFA and obtain conservator approval as FHFA directs. Overall, the conservator has ultimate authority over all operations of the Enterprises.
The annual Conservatorship Scorecard is FHFA's mechanism for communicating its priorities and expectations for the Enterprises and providing transparency to the public about these expectations. The 2022 Scorecard priorities are promoting sustainable and equitable access to affordable housing and operating the Enterprises’ businesses in a safe and sound manner.
APPENDIX A: Multifamily Definitions 2023
On October 3, 2008, President George W. Bush signed the Emergency Economic Stabilization Act of 2008 (EESA), providing broad authorities to the Treasury to undertake measures to strengthen financial institutions. EESA included provisions to assist homeowners facing foreclosure and to protect tenants. Section 110 of EESA charges federal property managers (FPMs) to develop and implement plans to maximize assistance for homeowners and encourage servicers of underlying mortgages to take advantage of programs to minimize foreclosures. In addition, each FPM is required to report to Congress every 30 days. The report must contain specific information on the number and types of loan modifications made and the number of actual foreclosures during the reporting period. FHFA is designated as FPM in its role as conservator for Fannie Mae and Freddie Mac under Section 110 of EESA.
FHFA commenced reporting as FPM with its initial transmission to Congress on December 2, 2008. The format and content of the reports has evolved over time. Prior to May 2012, FPM Reports included refinancing activity. Thereafter, they had the same content as the monthly and quarterly
Foreclosure Prevention Reports, and FHFA began issuing separate
Refinance Reports. In July 2019, FHFA revised these reports again and commenced issuing combined
Foreclosure Prevention, Refinance, and Federal Property Manager reports.
Page last updated: January 4, 2023
© 2023 Federal Housing Finance Agency