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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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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 / PD​F


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. 






​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 Ho​using and Urban Development.

GPO Text / PDF

​Find regulations pertaining to FHFA supervision at eCFR.




 Related Information



FHFA House Price Index Up 0.6 Percent in February23931<p>​<strong>Washington, D.C. </strong>– U.S. house prices rose in February, up <strong>0.6 percent </strong>from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.8 percent increase in January was revised upward to 0.9 percent. <br> <br>The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. From February 2017 to February 2018, house prices were up <strong>7.2 percent</strong>. <br> <br>For the nine census divisions, seasonally adjusted monthly price changes from January 2018 to February 2018 ranged from <strong>0.1 percent </strong>in the West North Central division to<strong> +1.6 percent</strong> in the East South Central division. The 12-month changes were all positive, ranging from <strong>+4.8 percent </strong>in the Middle Atlantic division to <strong>+10.3 percent </strong>in the Pacific division.<br> <br>Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs on the following pages. Complete historical downloadable data and HPI release dates for 2018 are available on the <a href="/hpi">HPI page</a>. <br> <br>For detailed information on the HPI, see <a href="/Media/PublicAffairs/Pages/Housing-Price-Index-Frequently-Asked-Questions.aspx">HPI Frequently Asked Questions (FAQ)</a>. The next HPI report will be released May 24, 2018 and will include quarterly data for the first quarter of 2018 and monthly data through March 2018. </p>4/24/2018 1:00:11 PM450https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index - February 201824780<p>The FHFA House Price Index (HPI) reported a&#160;0.6 percent&#160;increase in U.S. house prices in&#160;February from the previous month.&#160; From&#160;February 2017 to&#160;February 2018, house prices were up&#160;7.2&#160;percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from&#160;January 2018 to&#160;February 2018 ranged from&#160;0.1&#160;percent in the&#160;West North Central division to +1.6&#160;percent in the&#160;East South Central division.&#160; The 12-month changes were all positive, ranging from +4.8&#160;percent in the&#160;Middle Atlantic&#160;division to +10.3&#160;percent in the&#160;Pacific division.​</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs in the attachment.</p><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0pt6-Percent-in-February-2018.aspx"><p><font color="#0066cc">Related News Release</font></p></a>4/24/2018 1:00:15 PM323https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Refinance Report - February 201824575<h3>February 2018&#160;Highlights<br></h3><div> <br> </div><div><ul><li>Total refinance volume decreased in February 2018 as mortgage rates rose in January. Mortgage rates increased in February&#58; the average interest rate on a 20-year fixed rate mortgage rose to 4.33 percent from 4.03 percent in January, reaching levels last observed in 2014.&#160;<br><br>In February 2018&#58;<br></li></ul></div><ul><ul><li>Borrowers completed 1,292&#160;refinances through HARP, bringing total refinances from the inception of the program to 3,486,875.&#160;</li><li>HARP volume represented 1&#160;percent of total refinance volume.&#160;</li><li>Three&#160;percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.&#160;</li></ul></ul><blockquote style="margin&#58;0px 0px 0px 40px;border&#58;none;padding&#58;0px;"><p>Year to date through February 2018&#58;&#160;</p></blockquote><ul><ul><li>Borrowers with loan‐to‐value ratios greater than 105 percent&#160; accounted for 15&#160;percent of the volume of HARP loans.&#160;</li><li>Thirty-one&#160;percent of HARP refinances for underwater borrowers were for shorter‐term 15‐ and 20‐year mortgages, which build equity faster than traditional 30‐year mortgages.&#160;</li><li>HARP refinances represented 3&#160;percent of total refinances in Illinois -- triple&#160;the 1&#160;percent of total&#160;refinances nationwide over the same period.</li></ul></ul><div> <br> </div><ul><li>Borrowers who refinanced through HARP had a lower delinquency&#160;rate compared to borrowers eligible for HARP who did not refinance&#160;through the program.<br></li><li>Nine&#160;states and one U.S. territory&#160;accounted for over 70 percent of the nation's HARP eligible loans with a refinance incentive as of September 30, 2017.<br></li></ul><div></div>4/12/2018 3:00:25 PM219https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Report - January 201824038<h3 style="margin&#58;0px;padding&#58;0px;border&#58;0px currentcolor;color&#58;#404040;text-transform&#58;none;line-height&#58;1.4;text-indent&#58;0px;letter-spacing&#58;normal;font-family&#58;lato, sans-serif;font-size&#58;20px;font-style&#58;normal;font-weight&#58;900;word-spacing&#58;0px;vertical-align&#58;baseline;white-space&#58;normal;orphans&#58;2;widows&#58;2;font-stretch&#58;inherit;background-color&#58;#ffffff;text-decoration-style&#58;initial;text-decoration-color&#58;initial;">January 2018 Highlights</h3><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul><li>The Enterprises completed 23,949 foreclosure prevention actions in January, bringing the total to 4,064,207 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.</li><li>There were 11,831 permanent loan modifications in January, bringing the total to 2,162,777 since the conservatorships began in September 2008.</li><li>Forty-seven percent of&#160;modifications in January were modifications with&#160;principal forbearance. Modifications with extend-term only accounted for 40 percent of all loan modifications during the month. </li><li>There were 1,026 short sales and deeds-in-lieu completed in January, down 2 percent compared with December.</li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li>The serious delinquency rate decreased slightly from 1.18 percent at the end of December to 1.17 percent at the end of January.</li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong></p><ul><li>Third-party and foreclosure sales increased&#160;from 3,942 in December to 5,000 in January.</li><li><p>Foreclosure starts increased from 12,997 in December to 16,003 in January.</p></li></ul>4/11/2018 3:00:23 PM330https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Office of Minority and Women Inclusion Annual Report to Congress - 201724951<p>​The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) required FHFA to establish an Office of Women and Minority Inclusion (OMWI). FHFA’s OMWI is responsible for leading the Agency’s efforts to advance diversity and inclusion, by developing standards for&#58; </p><ul><li> Equal employment opportunity (EEO) and the racial, ethnic, and gender diversity of theAgency’s workforce, including senior management;</li><li>Increased participation of minority- and women-owned businesses (MWOBs) in Agencyprograms and contracts, and standards for coordinating technical assistance to suchbusinesses; and </li><li>Assessing the diversity policies and practices of the regulated entities.</li></ul><p> The EEO Services branch of OMWI implements FHFA’s EEO Program, which includes FHFA’s policies concerning EEO law and workplace harassment. Its functions also include EEO counseling, alternative dispute resolution, complaint processing, harassment prevention, analyses and guidance, compliance reporting, and training. <br><br> The Dodd-Frank Act requires FHFA’s OMWI to submit to Congress an annual report regarding the actions taken by the Agency that includes&#58; </p><ul><li>a statement of the total amounts paid by the Agency to contractors since the previousreport;<br>the percentage of the amounts paid to MWOB contractors;</li><li>the successes achieved and challenges faced by the Agency in operating minority andwomen outreach programs;</li><li>the challenges the Agency may face in hiring qualified minority and women employeesand contracting with qualified MWOBs; and </li><li>any other information, findings, conclusions, and recommendations for legislative orAgency action, as the OMWI director determines appropriate.</li></ul>3/30/2018 3:00:36 PM280https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

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