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Welcome to the Government page of FHFA’s website.  This page provides consolidated resources for federal, state and local government personnel who are interested in the nation’s housing finance system.


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  1. Read FHFA's latest Annual Report to Congress.

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Key Legislation

 

Short Title (Citation)

Document

FEDERAL HOME LOAN BANKS

Federal Home Loan Bank Act

12 U.S.C. 1421 et seq.
(Public Law 72-304 (1932))

Established the Federal Home Loan Bank System.

GPO Text / PDF

FEDERAL HOUSING FINANCE AGENCY CHARTER

Federal Housing Enterprises Financial Safety and Soundness Act of 1992

12 U.S.C. 4501 et seq.
(Public Law 102-550 (1992))

Primary statutory authorization for FHFA’s regulation of Fannie Mae, Freddie Mac and the Federal Home Loan Bank System, including supervision of housing mission and goals and actions as conservator or receiver for Fannie Mae, Freddie Mac or any Federal Home Loan Bank.

Housing and Economic Recovery Act of 2008

(Public Law 110-289 (2008))

Amended the Safety and Soundness Act to create FHFA, place regulation of Fannie Mae, Freddie Mac and the Bank System under one regulator, enhance supervision of these regulated entities, and enhance FHFA's authorities as conservator or receiver. 

GPO Text / PDF










 
GPO Text / PDF

FREDDIE MAC CHARTER

Federal Home Loan Mortgage Corporation Act

12 U.S.C. 1451 et seq.
(Public Law 91-351 (1970))

Created Freddie Mac and provided authority for Freddie Mac’s activities.

GPO Text / PDF

FANNIE MAE CHARTER

Federal National Mortgage Association Charter Act

12 U.S.C. 1716 et seq.
(Public Law 84-345,National Housing Act, Title III (1934), as amended by the Housing and Urban Development Act of 1968)

Created Fannie Mae and provided authority for Fannie Mae’s activities. Amendment in 1968 created the Government National Mortgage Association (Ginnie Mae), supervised by the Department of Housing and Urban Development.

GPO Text / PDF

Find regulations pertaining to FHFA supervision at eCFR.

CONGRESSIONAL LETTERS


 Related Information

 

 

U.S. House Price Index Report - November 201930261<p>U.S. house prices rose in November, up <strong>0.2 percent</strong><em> </em>from the previous month, according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). &#160;House prices rose <strong>4.9 percent</strong> from November 2018 to November 2019.&#160; The previously reported 0.2 percent increase for October 2019 was revised upward to 0.4 percent.</p><p>For the nine census divisions, seasonally adjusted monthly house price changes from October 2019 to November 2019 ranged from<strong> -0.1 percent</strong> in the Mountain division to <strong>+0.8 percent</strong> in the East North Central division.&#160; The 12-month changes were all positive, ranging from <strong>+3.8 percent </strong>in the New England and the West South Central divisions to <strong>+6.3 percent</strong> in the Mountain division.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs in the attachment.</p><p><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0-2-Percent-in-November-2019.aspx">Related News Release&#160;</a></p>1/22/2020 2:00:14 PMHome / About FHFA / Reports / U.S. House Price Index Report - November 2019 House Price Index 412https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Former CFTC Chair Appointed Chairman of Common Securitization Solutions; FHFA Announces Changes to Board Structure30221<p><strong>Washington, D.C. </strong>— Today, the Federal Housing Finance Agency (FHFA) announced that J. Christopher “Chris&quot; Giancarlo, former Chairman of the U.S. Commodity Futures Trading Commission (CFTC), will serve as independent, non-Executive Chairman of the Board of Directors of Common Securitization Solutions LLC (CSS) and that CSS will amend the structure of its Board of Directors. This amended structure provides Anthony Renzi, appointed in December 2019 as CSS CEO, a seat on the Board and also allows FHFA to appoint up to three additional independent directors. Fannie Mae and Freddie Mac (the Enterprises) will each retain their two current Board seats. There will be up to nine Board members in total. </p><p>CSS, a joint venture between the Enterprises, built and runs the technology platform that supports the Uniform Mortgage-Backed Security (UMBS). Both Enterprises began using the CSS Common Securitization Platform (CSP) in June of 2019.&#160; </p><p>“Chris Giancarlo is the right person to serve as independent Chairman of the CSS Board. Chris' unique balance of public service and financial sector experience will be an asset to CSS,&quot; said FHFA Director Mark Calabria. “Now is the time to add independent CSS Board members to assess and enable additional entrants onto the CSP. More competition means lower costs for consumers and a more liquid and stable housing finance market.&quot; </p><p>“I am honored to be appointed by Director Calabria as the Chairman of CSS's Board of Directors. As Chairman, I will promote the modernization of America's housing finance infrastructure, with the goal of creating a more competitive, efficient, and lower cost housing finance market that preserves all Americans' access to mortgages,&quot; said CSS Chairman Chris Giancarlo upon his appointment. “The Board will guide CSS as it supports the Enterprises' mortgage securitization activities, including continuing the development of the UMBS.&#160; Part of that development is assessing the impact and utilization of UMBS as a financial instrument and its attractiveness for additional entrants and guarantors, as well as examining its potential use for additional services related to securitizations and emerging digital technologies, including securitization tokenization using distributed ledger technology.&quot; </p><p><strong>HONORABLE J. CHRISTOPHER GIANCARLO&#58; </strong>&#160;Mr. Giancarlo is a former business executive who served as the 13th Chairman of the Commodity Futures Trading Commission. Mr. Giancarlo, first nominated as a CFTC Commissioner by President Barack Obama and unanimously confirmed by the Senate in June 2014, was nominated as CFTC Chairman by President Donald Trump and again unanimously confirmed in August 2017. At the CFTC, Mr. Giancarlo oversaw regulation of the futures, options, and swaps derivatives markets, including a focus on regulatory guidance for emerging technologies such as blockchain technology and cryptocurrencies. As CFTC Chairman, Mr. Giancarlo also served as a member of the Financial Stability Oversight Committee (FSOC), the President's Working Group on Financial Markets, and the Executive Board of the International Organization of Securities Commissions (IOSCO) as well as participated in meetings of the Financial Stability Board (FSB). He departed the CFTC in July 2019 following the expiration of his five-year term.&#160; </p><p>Currently, Mr. Giancarlo is Senior Counsel to the law firm of Willkie Farr &amp; Gallagher LLP. He also serves as a board member of the American Financial Exchange (AFX), the sponsor of Ameribor and Ameribor Futures, and a member of the advisory board to the Chamber of Digital Commerce, a trade group focused on US blockchain and crypto policy. He is a founding board member and former Chairman of the Wholesale Markets Brokers Association, Americas. He was also a member of the Leadership Board of the Center for Capital Markets Competitiveness at the US Chamber of Commerce. </p><p>Prior to entering public service, Mr. Giancarlo served as the Executive Vice President of financial services firm, GFI Group Inc., where he led GFI's growth from a privately held partnership to a publicly traded company. He also previously served as Executive Vice President and US Legal Counsel of Fenics Software. Mr. Giancarlo was also a corporate partner in the New York law firm of Brown Raysman Millstein Felder &amp; Steiner, a founding partner at Giancarlo &amp; Gleiberman, and an associate in the London office of Curtis, Mallet-Prevost, Colt &amp; Mosle. </p><p>Mr. Giancarlo holds a JD from Vanderbilt University School of Law and a BA, Phi Beta Kappa, from Skidmore College. He is a member of the Bar of the State of New York. In May 2019, the City of London Corporation awarded Mr. Giancarlo “The Freedom of the City,&quot; an honor dating back to the Middle Ages. </p><p><strong>COMMON SECURITIZATION SOLUTIONS&#58; </strong>&#160;The Federal Housing Finance Agency's&#160;<a href="/AboutUs/Reports/Pages/2014-Conservatorships-Strategic-Plan.aspx">2014 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac</a>&#160;included the strategic goal of developing a new securitization infrastructure for Fannie Mae and Freddie Mac for mortgage loans backed by single-family properties. To achieve this goal, Common Securitization Solutions (CSS), a joint venture owned by the Enterprises, developed a Common Securitization Platform (CSP) under FHFA's direction and guidance. The CSP supports the Enterprises' single-family mortgage securitization activities, including the issuance by both Enterprises of a common single mortgage-backed security known as the Uniform Mortgage-Backed Security (UMBS). &#160;The issuance of UMBS is meant to improve the overall liquidity of the Enterprises' securities and ensure liquidity in the nation's housing finance markets.&#160; The CSP now administers, on behalf of Fannie Mae and Freddie Mac, nearly 1 million securities, backed by loans with $4.8 trillion in unpaid principal balance.</p>1/15/2020 3:30:41 PMAppointment of J. Christopher Giancarlo as independent, non-Executive Chairman of the Board Washington, D.C. — Today, the Federal Housing Finance Agency (FHFA) announced that J 2117https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance and FPM Report - Third Quarter 201930215<h1>​​THIRD Quarter 2019 Highlights -&#160;Foreclosure Prevention<br></h1><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul><li>The Enterprises completed 26,475 foreclosure prevention actions in the third quarter, bringing the total to 4,381,036 since the start of conservatorships in September 2008. Of these actions, 3,684,782 have helped troubled homeowners stay in their homes, including 2,373,957 permanent loan modifications.</li><li>Twenty-eight percent of modifications in the third quarter were modifications with principal forbearance. Modifications with&#160;extend-term only accounted for 66 percent of all loan modifications during the quarter.</li><li>There were 1,315 completed short sales and deeds-in-lieu during the quarter, bringing the total to 696,254 since the conservatorships began in September 2008.</li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li>The percentage of 60+ days delinquent loans dropped from 1.00 percent at the end of the second quarter to 0.96 percent at the end of the third quarter of 2019.</li><li>The Enterprises' serious (90 days or more) delinquency rate decreased to 0.65 percent at the end of the third quarter. This compared with 3.39 percent for Federal Housing Administration (FHA) loans, 1.87 percent for Veterans Affairs (VA) loans, and 1.81 percent for all loans (industry average).</li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong><br></p><ul><li>Foreclosure starts increased 2 percent to 29,970 while third-party and foreclosure sales decreased 5 percent to 9,670 in the third quarter.</li></ul><h1>​third quarter 2019 Highlights - Refinance Activities<br></h1><ul><li>Total refinance volume increased in September 2019 as mortgage rates fell in previous months to lows last obsereved in 2015. Mortgage rates decreased in September&#58; the average interest rate on a 30-year fixed rate mortgage fell to 3.61&#160;percent from 3.62 percent in August.</li></ul><p><strong>In The Third Quarter of 2019&#58;</strong><br></p><ul><li>Borrowers completed 6 refinances through HARP, bringing total refinances from the inception of the program to 3,495,413.</li><li>HARP volume represented less than 1 percent of total refinance volume.</li><li>Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.</li></ul><p><a href="/Media/PublicAffairs/Pages/Nearly-4pt4-Million-Homeowners-Helped-Since-Conservatorship.aspx">Related News Release</a><br></p><p>For an interactive online map that provides state data, click on the following link&#58;&#160; <em><a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx">Fannie Mae and Freddie Mac State Borrower Assistance Map.</a></em><br></p>1/9/2020 6:00:38 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance and FPM Report - Third Quarter 2019 The Enterprises completed 26,475 foreclosure prevention actions in the third 267https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA House Price Index - October 201930184<p>The FHFA House Price Index (HPI) reported a 0.2&#160;percent increase in U.S. house prices in October from previous&#160;month.&#160; From October 2018 to October 2019, house prices were up 5.0&#160;percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from September 2019 to October&#160;2019 ranged from -0.5 percent in the East North Central&#160;division to +0.7&#160;percent in the West South Central and East South Central divisions.&#160; The 12-month changes were all positive, ranging from +3.5&#160;percent in the New England division to +6.7&#160;percent in the Mountain division.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the tables and graphs in the attachment.&#160;</p><p><a href="/Media/PublicAffairs/Pages/FHFA-HPI-Up-0pt2-Pct-in-Oct-Up-5-Pct-from-Last-Yr.aspx">Related News Release</a></p>12/31/2019 2:01:10 PMHome / About FHFA / Reports / FHFA House Price Index - October 2019 House Price Index 1933https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Fannie Mae and Freddie Mac Single-Family Guarantee Fees in 201830167<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.&#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.&#160; FHFA issued the first single-family guarantee fee report in 2009.</p><p>This report discusses the guarantee fees charged in 2018 and provides a five-year perspective with data back to 2014.&#160; The major findings in this report are&#58;</p><ul><li>For all loan products combined, the average single-family guarantee fee in 2018 increased 2 basis points to 55 basis points.&#160; The upfront portion of the guarantee fee, which is based on the credit risk attributes (e.g., loan purpose, loan-to-value ratio, and credit score), was unchanged at&#160;15 basis points.&#160; The ongoing portion of the guarantee fee, which is based on the product type (fixed-rate or adjustable-rate, and loan term), increased 2 basis points to 40 basis points.</li><li>The average guarantee fee in 2018 on 30-year fixed rate loans was unchanged at 56 basis points, while the fee on 15-year fixed rate loans increased by 1 basis point to 37 basis points.&#160; The fee on adjustable-rate mortgage (ARM) loans fell 4 basis points to 54 basis points.</li><li>Higher interest rates accompanied by increasing house prices in 2018 led to a smaller share of both rate-term refinances and 15-year loans acquired by the Enterprises.&#160; The larger share of purchase loans and a growing focus on programs for first-time homebuyers and affordable housing led to a slight increase in the share of loans with higher loan-to-value (LTV) ratios and lower credit scores.</li></ul><p>Questions and comments about this report may be addressed to FHFA at&#58;&#160;<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-2018-Report-to-Congress-on-Guarantee-Fees.aspx">Related News Release</a></p>12/18/2019 9:00:41 PMHome / About FHFA / Reports / Fannie Mae and Freddie Mac Single-Family Guarantee Fees in 2018 Single 591https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

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