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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 / 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



Report on Collateral Pledged to Federal Home Loan Banks - July 202135857<p>​​​The Housing and Economic Recovery Act of 2008 (HERA) requires the Federal Housing Finance Agency (FHFA) to submit an annual report to Congress on the collateral pledged to the FHLBanks, including an analysis of collateral by type and by Bank district.3 FHFA’s Report on Collateral Pledged to Federal Home Loan Banks provides the required information as well as additional analysis of data on the types and amounts of collateral pledged to the Banks to secure advances and other collateralized products offered by the Banks to their members. The information in this report uses data collected through a quarterly data collection conducted by FHFA’s Division of Federal Home Loan Bank Regulation (DBR), and most charts and graphs report data on the unpaid principal balance of eligible collateral pledged by Bank members as of December 31, 2020.<br></p>7/23/2021 3:00:55 PMHome / About FHFA / Reports / Report on Collateral Pledged to Federal Home Loan Banks - July 2021 The Housing and Economic Recovery Act of 2008 (HERA) requires the Federal 245https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Eliminates Adverse Market Refinance Fee33973 <span style="font-size&#58;12pt;line-height&#58;115%;color&#58;black;"><strong></strong></span><p><span style="font-size&#58;12pt;line-height&#58;115%;font-family&#58;&quot;times new roman&quot;, serif;color&#58;black;"><strong>Washington, D.C.</strong>&#160;– Today, to help families reduce their housing costs, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) will eliminate the Adverse Market Refinance Fee for loan deliveries effective August 1, 2021.</span></p><p><span style="font-size&#58;12pt;line-height&#58;115%;font-family&#58;&quot;times new roman&quot;, serif;color&#58;black;">To allow families to save more money, lenders will no longer be required to pay the Enterprises a 50-basis point fee when they deliver refinanced mortgages. The fee was designed to cover losses projected as a result of the COVID-19 pandemic. The success of FHFA and the Enterprises' COVID-19 policies reduced the impact of the pandemic and were effective enough to warrant an early conclusion of the Adverse Market Refinance Fee. FHFA's expectation is that those lenders who were charging borrowers the fee will pass cost savings back to borrowers.</span></p><p><span style="font-size&#58;12pt;line-height&#58;115%;font-family&#58;&quot;times new roman&quot;, serif;color&#58;black;">&quot;The COVID-19 pandemic financially exacerbated America's affordable housing crisis. Eliminating the Adverse Market Refinance Fee will help families take advantage of the low-rate environment to save more money,&quot;&#160;said Acting Director Sandra L. Thompson. &quot;Today's action furthers FHFA's priority of supporting affordable housing while simultaneously protecting the safety and soundness of the Enterprises.&quot;</span></p><p><span style="font-size&#58;12pt;line-height&#58;115%;font-family&#58;&quot;times new roman&quot;, serif;color&#58;black;">The vast majority of Enterprise borrowers have successfully exited COVID-19 forbearance. In April, approximately 2 percent of single-family mortgages guaranteed by the Enterprises remained in forbearance, down from a high of approximately 5 percent in May 2020. FHFA will continue to monitor the housing finance system, making policy adjustment in coordination with the Enterprises as necessary.</span><br></p>7/16/2021 2:06:53 PMHome / Media / FHFA Eliminates Adverse Market Refinance Fee News Release To allow families to save more 34907https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
Prepared Remarks of Sandra L. Thompson, Acting Director, FHFA, at FHFA Virtual Listening Session: "Enterprise Duty to Serve 2022-2024 Proposed Plans: Manufactured Housing35796<p style="text-align&#58;center;"> <strong>​​​​​​Public Remarks as Prepared for Delivery</strong></p><p style="text-align&#58;center;"> <strong>Sandra L. Thompson</strong></p><p style="text-align&#58;center;"> <strong>Acting Director, Federal Housing Finance Agency</strong></p><p style="text-align&#58;center;"><strong><br></strong></p><p style="text-align&#58;center;"> <strong>FHFA Virtual Listening Session&#58; &quot;Enterprise Duty to Serve 2022-2024 Proposed Plans&#58; Manufactured Housing&quot;&#160;</strong></p><p style="text-align&#58;center;"><strong style="font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;">Wednesday, July 14, 2021</strong></p><p style="text-align&#58;center;"><strong style="font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;"><br></strong></p><p style="text-align&#58;left;"><strong style="font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;"></strong>Let me thank all our participants in this week's virtual listening sessions.</p><p>All across the United States, Americans are struggling with a housing crisis. Each market and community faces its own mix of challenges, but a common theme can be found&#160;in widespread shortages of affordable housing. </p><p>The total supply of housing is insufficient to meet ongoing demand. And new housing production is skewing towards higher priced segments of the market. That leaves low- and moderate-income Americans increasingly cut off from housing opportunities.</p><p>FHFA's mission, through our regulated entities, is to responsibly foster a sustainable housing finance system that supports equitable access to both affordable homeownership and rental housing, reaching communities of color, rural areas, and other underserved populations. </p><p>Duty to Serve plays an important part in this. </p><p>Under the Safety and Soundness Act, Fannie Mae and Freddie Mac are each charged with a duty to &quot;provide leadership&quot; in facilitating a secondary market in mortgages for families in three specific underserved markets&#58;</p><blockquote style="margin&#58;0px 0px 0px 40px;border&#58;none;padding&#58;0px;"><p>(1)&#160;&#160; Affordable housing preservation, </p><p>(2)&#160;&#160; Manufactured Housing, and</p><p>(3)&#160;&#160; Rural markets</p></blockquote><p>FHFA's implementing regulation requires each Enterprise to develop its own plan for serving the specified markets over three-year periods. </p><p>Earlier this year, the Enterprises submitted their proposed 2022-2024 Underserved Markets Plans, which are posted on the FHFA website. This week FHFA has held a listening session for each statutory underserved market to encourage feedback on those plans from stakeholders and the public. Interested parties are also encouraged to submit written comments on the proposed plans<a href="/PolicyProgramsResearch/Programs/Pages/Duty-to-Serve.aspx"> through our website</a>​. FHFA and the Enterprises want to hear your feedback on how best to reach underserved markets.</p><p>During a time of shortages, preservation of the existing affordable housing stock becomes even more urgent. Recent <a href="https&#58;//preservationdatabase.org/wp-content/uploads/2020/05/NHPD_2020Report.pdf">estimates​</a> show that just in the next five years, a quarter of a million publicly-subsidized homes will see their affordability requirements expire. It is critical that the Enterprises meet their duty to serve this market in keeping with their charter purpose &quot;to promote access to mortgage credit throughout the Nation.&quot;</p><p>Manufactured housing is one option that has potential to grow the affordable housing supply without subsidies. And Duty to Serve has already produced demonstrable results in increasing Enterprise support for manufactured housing. </p><p>For example, the Enterprises almost doubled their purchases of loans secured by manufactured housing titled as real property between 2017, the year before Duty to Serve was implemented, and 2020. In addition, both Enterprises exceeded their loan purchase targets for manufactured housing communities with tenant pad lease protections—providing new and important protections for residents in these MHCs.</p><p>And manufactured housing is an especially important resource for many rural communities. Rural areas tend to have limited housing options and older housing stock. Getting an accurate appraisal can also be difficult.&#160; Fortunately, despite the challenges presented by the COVID-19 pandemic, 2020 saw the Enterprises still able to exceed some of their goals in the rural housing market. FHFA looks forward to them doing even more to connect rural areas to national housing finance.</p><p>FHFA expects the Enterprises to live up to their mission obligations and help ensure that investment capital reaches underserved markets. Fannie and Freddie have a responsibility to identify the obstacles these communities face in accessing mortgage credit and affordable housing, as well as a duty to develop strategies for overcoming them safely and soundly. </p><p>As we enter the next three years of Duty to Serve, I look forward to seeing the Enterprises fulfill their charter purposes by &quot;increasing the liquidity of mortgage investments and improving the distribution of investment capital&quot; throughout the country. Their success in this mission will play a critical role in relieving our nation's widespread affordable housing shortage.</p><p>Thank you again for joining our listening session.&#160;​<br></p>7/14/2021 9:44:03 PMPublic Remarks as Prepared for Delivery Acting Director, Federal Housing Finance Agency Let me thank all our participants in this week's virtual listening sessions 1070https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance and FPM Report - April 202135789<p>​​<span style="color&#58;#0072c6;font-family&#58;&quot;segoe ui semilight&quot;, &quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;1.46em;">​April&#160;</span><span style="color&#58;#0072c6;font-family&#58;&quot;segoe ui semilight&quot;, &quot;segoe ui&quot;, segoe, tahoma, helvetica, arial, sans-serif;font-size&#58;1.46em;">2021&#160;Highlights - Foreclosure Prevention</span></p><div><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong><br></div><div><div><ul><li>The Enterprises completed 87,205 foreclosure prevention actions in April, bringing the&#160;total to 5,900,104 since the start of the conservatorships in September 2008.</li><li>Approximately 42 percent of these actions have been permanent loan modifications.</li><li>There were 5,271 permanent loan modifications in April, bringing the total to&#160;2,457,671 since the conservatorships began in September 2008.</li><li>Fourteen percent of modifications in April were modifications with principal&#160;forbearance. Modifications with extend-term only accounted for 61 percent of all loan&#160;modifications during the month.</li><li>The number of borrowers who received payment deferrals after completing a COVID-19 related forbearance plan increased slightly from 55,570 in March to 55,970 in April.</li><li>Initiated forbearance plans decreased 15 percent from 33,525 in March to 28,623 in&#160;April. The total number of loans in forbearance plan also decreased from 660,039 at the end of March to 592,985 at the end of April, representing approximately 2.0% of the total loans serviced, and 64 percent of the total delinquent loans.<br></li></ul></div></div><div><strong>The Enterprises' Mortgage Performance&#58;&#160;</strong></div><div><ul><li>The 30-59 days delinquency rate remained at 0.67 percent, while the serious&#160;delinquency rate decreased to 2.29 percent at the end of April.​</li></ul></div><div><strong>The Enterprises' Foreclosures&#58;</strong><br></div><div><ul><li>​Third-party and foreclosure sales decreased 5 percent to 808 while foreclosure starts dropped 62 percent to 2,020 in April.<br><br></li></ul></div><h2>April&#160;2021 Highlights - Refinance Activities</h2><div><ul><li>Total refinance volume decreased in April, after mortgage rates rose to above 3&#160;percent in March. Mortgage rates fell in April&#58; the average interest rate on a 30-year&#160;fixed rate mortgage fell to 3.06 percent from 3.08 perent in March.</li><li><div>In April, 12 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 190.</div><div></div></li><li><div>​The percentage of borrowers refinancing into shorter term 15-year fixed rate mortgages increased to 27 percent in April as the difference between 15-and 30 year fixed rate mortgages steadily increased from the lows observed in late 2020 of 46 basis points to 70 basis points in March.​</div></li></ul></div><p><br></p>7/13/2021 8:48:30 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance and FPM Report - April 2021 Foreclosure 674https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Quarterly FOIA Report - Second Quarter 202135758<p>The Office of Information Policy requires all agencies to provide quarterly reporting for four key Freedom of Information Act&#160;(FOIA) statistics to the Department of Justice. This report is attended to identify trends and assess agencies' progress through the course of the year.​</p><p> <em>Note&#58;&#160; The attached .zip file is intended to be collected by the Department of Justice (DOJ) through the use of an Applied Programming Interface. Files in .zip present data in JSON and XML format.&#160; DOJ displays FHFA’s quarterly data on </em><a title="Link goes to an external web page." href="http&#58;//www.foia.gov/" target="_blank"><em> FOIA.gov</em></a><em> for public viewing. </em></p><em> </em><font color="#000000" face="Times New Roman" size="3"> </font><em> </em><p><em> Additional FHFA FOIA information is available in </em><a href="/AboutUs/FOIAPrivacy/Pages/Reading-Room.aspx"><em> FHFA’s Freedom of Information Act Reading Room</em></a><em>.</em></p><p><em> Go to FHFA’s </em><a href="https&#58;//www.foia.gov/quarter.html?FHFA"><em> quarterly report</em></a><em> page on </em><a title="Link goes to an external web page." href="http&#58;//www.foia.gov/" target="_blank"><em> FOIA.gov</em></a><em> to review FHFA data.</em></p> <font color="#000000" face="Times New Roman" size="3"> </font>7/7/2021 2:00:19 PMHome / About FHFA / Reports / Quarterly FOIA Report - Second Quarter 2021 FOIA Quarterly Report 201https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

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