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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.

  2. Read the latest Strategic Plan for Conservatorships or the latest Scorecard.

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Key Legislation


Short Title (Citation)



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 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


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


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.



 Related Information



Foreclosure Prevention, Refinance, and Federal Property Manager's Report - January 202429045<h2 style="padding-bottom&#58;10px !important;padding-top&#58;8px !important;">January 2024&#160;Highlights - Foreclosure Prevention<br></h2> <p style="padding-top&#58;8px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;">​The Enterprises' Foreclosure Prevention Actions&#58;</p><ul class="FHFA-List"><li style="padding-top&#58;4px !important;margin-top&#58;4px !important;">The Enterprises completed 17,488 foreclosure prevention actions in January, bringing the total to 6,923,218 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications.</li><li>There were 5,127 permanent loan modifications in January, bringing the total to 2,687,319 since the conservatorships began in September 2008.</li><li>Approximately 80 percent of loan modifications in January involved extend term only. Modifications with principal forbearance accounted for 19 percent of all loan modifications during the month.</li><li>The number of borrowers who received payment deferrals after completing a forbearance plan increased 26 percent from 6,821 in December 2023 to 8,628 in January 2024.</li><li>Initiated forbearance plans increased from 7,096 in December 2023 to 7,490 in January 2024. However, the total number of loans in forbearance decreased from 42,194 at the end of December 2023 to 38,872 at the end of January 2024, representing approximately 0.13 percent of the total loans serviced and 8 percent of the total delinquent loans.</li></ul><p style="padding-top&#58;8px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;margin-top&#58;0px !important;"> The Enterprises' Mortgage Performance&#58;&#160;</p><div style="padding-top&#58;0px;"><ul class="FHFA-List"><li style="margin-top&#58;4px !important;">The 30-59 days delinquency rate decreased to 0.87 percent while the serious delinquency rate decreased to 0.54 percent at the end of January.</li></ul></div><p style="padding-top&#58;8px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;"> The Enterprises' Foreclosures&#58;</p><div style="padding-top&#58;0px;"><ul class="FHFA-List"><li style="margin-top&#58;4px !important;">Third-party and foreclosure sales increased 16 percent to 1,136 while foreclosure starts increased 12 percent to 6,819 in January.</li></ul></div><h2 style="padding-top&#58;16px !important;padding-bottom&#58;8px !important;">January&#160;2024&#160;Highlights - Refinance Activities</h2><div style="padding-top&#58;0px;"><ul class="FHFA-List"><li>Total refinance volume decreased in January 2024 as mortgage rates were elevated in 2023, peaking in October at a monthly average of 7.62 percent. However, mortgage rates fell in January&#58; the average interest rate on a 30-year fixed rate mortgage decreased to 6.64 percent. </li><li>The percentage of cash-out refinances decreased to 69 percent in January after rising as high as 82 percent over the last two years. Higher mortgage rates have reduced the opportunities for non cashout borrowers to refinance at lower rates and lower their monthly payments.</li></ul></div>​<br>4/15/2024 5:01:01 PMEqual Employment Opportunity / No FEAR Act Home / About FHFA / Reports / Foreclosure Prevention, Refinance, and Federal Property Manager's Report - January 2024 https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Credit Risk Transfer Progress Report 4Q202328999<p style="padding-top&#58;12px !important;">​​​​​​​​​​​​​​The Report provides a comprehensive picture of how Fannie Mae and Freddie Mac (the Enterprises) transfer a substantial portion of credit risk to the private sector through a variety of transactions in both the single-family and multifamily markets.<br></p><p>From the beginning of the Enterprises’ Single-Family CRT programs in 2013 through the end of 2023, the Enterprises transferred a portion of credit risk on approximately $6.7 trillion of unpaid principal balance (UPB), with a combined Risk in Force (RIF) of $210 billion, or 3.2 percent of UPB. In 2023, the Enterprises collective single-family CRT issuance volume decreased 60 percent from the previous year primarily due to lower single-family acquisition volumes. The Enterprises transferred a portion of credit risk on $422 billion of UPB in 2023.​<br></p><p>​See the document below for more detailed information.​<br></p>​​​4/11/2024 1:47:10 PMEqual Employment Opportunity / No FEAR Act Home / About FHFA / Reports / Credit Risk Transfer Progress Report 4Q2023 The Report provides a comprehensive picture of how Fannie Mae 368https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
State Financial Regulators and FHFA Enter Into Mortgage Market Information Sharing Agreement28993<hr style="line-height&#58;16px;" /><span style="line-height&#58;14px;font-style&#58;normal;font-variant&#58;normal;font-weight&#58;700 !important;">Joint Release</span> <h4 style="text-align&#58;right;font-style&#58;normal;font-variant&#58;normal;">Federal Housing Finance Agency</h4> ​ <h4 style="text-align&#58;right;font-style&#58;normal;font-variant&#58;normal;">Conference of State Bank Supervisors</h4>​ <hr style="line-height&#58;16px;" /><p>​​<strong>​​​​Washington, D.C.</strong> – The Conference of State Bank Supervisors (CSBS) and the Federal Housing Finance Agency (FHFA) yesterday entered into a formal agreement designed to facilitate information sharing with respect to nonbank mortgage companies.</p><p>The memorandum of understanding establishes substantive information sharing protocols between state financial regulators and FHFA, improving the ability to coordinate on market developments, identify and mitigate risks, and ultimately, further protect consumers, taxpayers, and the nation’s housing finance system.</p><p>“Information sharing between state regulators and federal supervisors is common sense given our shared interest in a vibrant, stable mortgage marketplace,” said CSBS Board Chair Lise Kruse, North Dakota Commissioner of Financial Institutions. “Establishing information sharing opens the door to a more collaborative oversight process that is beneficial to all involved.”</p><p>State financial regulators are the primary regulators of nonbank mortgage companies. FHFA is the regulator and conservator of two of the nonbank mortgage industry’s largest and most important counterparties, Fannie Mae and Freddie Mac. While each supervisory agency maintains specific authorities related to the mortgage industry, only state financial regulators have complete prudential authority over nonbank mortgage companies. </p><p>“The development of an information sharing framework is an important milestone that will better equip both FHFA and state regulators to oversee our respective regulated entities,” said FHFA Director Sandra L. Thompson. “Improved communication leads to better coordination, which in turn leads to better outcomes for consumers, market participants, and taxpayers.”​<br></p>4/10/2024 2:07:25 PMWashington, D.C. – The Conference of State Bank Supervisors (CSBS) and the Federal Housing Finance Agency (FHFA) yesterday entered into a formal agreement designed to facilitate 1513https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
2024 FHFA Chief FOIA Officer Report25790<p>​​​​​FHFA is committed to providing access to Agency records through a citizen-centered and results-oriented FOIA program.&#160; FHFA's FOIA Office, which is comprised of the Chief FOIA Officer, FOIA Officer and FOIA Liaison (FHFA-HQ), continually reviews ways to improve the efficiency, effectiveness, and transparency of FHFA's FOIA program.<br></p>4/8/2024 2:07:50 PMEqual Employment Opportunity / No FEAR Act Home / About FHFA / Reports / 2024 FHFA Chief FOIA Officer Report FHFA is committed to providing access to Agency records through a 373https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Announces New Staffing Update25793<p style="padding-top&#58;8px !important;"> <strong>​​​​​​​​​​​​​​​​​​​​​​​Washington, D.C.</strong> –&#160;Today, the Federal Housing Finance Agency (FHFA) announced that Tracy Stephan has been named Chief Artificial Intelligence Officer (CAIO) and will continue in her role leading the FHFA Office of Financial Technology. </p><p>FHFA’s CAIO will manage AI risk, promote AI innovation, and lead effective AI governance in accordance with the <a href="https&#58;//www.whitehouse.gov/briefing-room/presidential-actions/2023/10/30/executive-order-on-the-safe-secure-and-trustworthy-development-and-use-of-artificial-intelligence/" class="external-link">Executive Order 14110 on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence</a> and the related <a href="https&#58;//www.whitehouse.gov/wp-content/uploads/2024/03/M-24-10-Advancing-Governance-Innovation-and-Risk-Management-for-Agency-Use-of-Artificial-Intelligence.pdf" class="external-link">Office of Management and Budget Memo on Advancing Governance, Innovation, and Risk Management for Agency Use of Artificial Intelligence.</a></p><p>“Establishing a Chief AI Officer underscores FHFA’s commitment to understanding new developments in technology and the marketplace and incorporating those insights into our day-to-day work,” said FHFA Director Sandra Thompson. “Through her role leading the Office of Financial Technology, Tracy has been a leader in FHFA’s work on AI and she is well prepared to lead this into the future.”</p><p> <strong>About Tracy Stephan&#58;</strong> Stephan, a 25-year veteran in mortgage technology, leads FHFA’s Office of Financial Technology. In this role, she leads a team responsible for supporting the Agency’s efforts to identify technology-driven developments in housing finance, understand the associated risks, and facilitate the development of responsible innovation in FHFA’s regulated entities. Stephan came to FHFA from Fannie Mae where she served in a variety of positions overseeing Enterprise Innovation, Data, Software Engineering, and Product Management. In these roles she led complex digital transformation initiatives, oversaw mission-critical technology operations, and drove innovation at scale. Stephan holds a bachelor’s degree in Decision Science and Information Systems from George Mason University.​<br></p>4/8/2024 6:30:09 PMHome / Media / FHFA Announces New Staffing Update News Release Washington, D.C. – Today, the Federal Housing 2209https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx

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