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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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  4. Download Data.

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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


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 Related Information

 

 

FHFA Announces New Staffing Updates38213<p><strong>​​Washington, D.C.</strong> —Today, the Federal Housing Finance Agency (FHFA) announced two personnel updates. Karen Chang will serve as FHFA's Chief of Staff, and Samuel Frumkin has been named the Agency’s Executive Secretary. These appointments are effective immediately.<br></p><p>&quot;Having already served as a detailee in the Office of the Director since June, Karen will continue to be a key advisor and leverage her decision-making and subject matter expertise to provide strategic and operational excellence across the Agency,&quot; said FHFA Director Sandra Thompson. &quot;Through his previous positions as Principal Advisor within both the Office of the Director and the Division of Mission and Housing Goals, as well as his policy and supervisory background at a number of other federal financial regulators, Sam’s holistic view of financial institution supervision will enable him to play a key role in ensuring FHFA meets a wide range of its statutory responsibilities.&quot;<br></p><p>Karen Chang has been with FHFA since April 2021, serving as Supervisory Financial Analyst in the Division of Enterprise Regulation (DER) Office of Financial Analysis. She previously worked for the Consumer Financial Protection Bureau (CFPB), the White House, the U.S. Department of the Treasury, and other public and private sector organizations.&#160;<br></p><p>Samuel Frumkin joined FHFA in 2014 after working for the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and CFPB.​</p>9/28/2022 2:00:50 PMHome / Media / FHFA Announces New Staffing Updates News Release Washington, D.C. —Today, the Federal Housing 1285https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA House Price Index Down 0.6 Percent in July; Up 13.9 Percent from Last Year38141<p> <strong>​​​​​​​Washington, D.C. </strong>– House prices fell nationwide in July, down 0.6 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose <strong>13.9 percent</strong> from July 2021 to July 2022. The previously reported 0.1 percent price increase in June 2022 remained unchanged.</p><p>For the nine census divisions, seasonally adjusted monthly house price changes from June to July 2022 ranged from <strong>-1.6 percent</strong> in the Pacific division to <strong>+0.1 percent</strong> in the East North Central division. The 12-month changes were all positive, ranging from <strong>+10.0 percent </strong>in the Pacific division to <strong>+18.9 percent</strong> in the South Atlantic division.</p><p>“U.S. house price index posted its first month-over-month decrease in July since May 2020 when the U.S. economy experienced lockdowns as a result of COVID-19. This decline was widespread as eight of the nine census divisions saw a decrease,” said Will Doerner, Ph.D., Supervisory Economist in FHFA’s Division of Research and Statistics. “The 12-month change in house prices remains at historically high rates, but the rate of growth continues to moderate across all census divisions.” </p><p>The FHFA HPI is the nation’s only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s. The FHFA HPI incorporates tens of millions of home sales and offers insights about house price fluctuations at the national, census division, state, metro area, county, ZIP code, and census tract levels. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.</p><p>FHFA releases HPI data and reports on a quarterly and monthly basis. The flagship FHFA HPI uses nominal, seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac. Additional indexes use other data including refinances, FHA mortgages, and real property records. All the indexes, including their historic values, and information about future HPI release dates are available on FHFA’s website&#58; <a href="/HPI">https&#58;//www.fhfa.gov/HPI</a>.<br></p><p>FHFA will release its next HPI report on October 25, 2022, and will include monthly data through August 2022.​​<br></p>9/27/2022 1:00:27 PMHome / Media / FHFA House Price Index Down 0.6 Percent in July; Up 13.9 Percent from Last Year News Release 2320https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index - September 202238142<p style="padding-top&#58;16px !important;">​House prices fell nationwide in July, down 0.6 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose <strong>13.9 percent</strong> from July 2021 to July 2022. The previously reported 0.1 percent price increase in June 2022 remained unchanged.</p><p style="font-style&#58;normal;">For the nine census divisions, seasonally adjusted monthly house price changes from June to July 2022 ranged from <strong>-1.6 percent</strong> in the Pacific division to <strong>+0.1 percent</strong> in the East North Central division. The 12-month changes were all positive, ranging from <strong>+10.0 percent</strong> in the Pacific division to <strong>+18.9 percent</strong> in the South Atlantic division.</p><p style="font-style&#58;normal;padding-bottom&#58;32px !important;padding-top&#58;16px !important;"> <a href="/Media/PublicAffairs/Pages/FHFA-HPI-Down-0pt6-Percent-in-July-Up-13pt9-Percent-from-Last-Year.aspx">Related News Release</a>​​​​<br></p>9/27/2022 1:00:29 PMHome / About FHFA / Reports / U.S. House Price Index - September 2022 House Price Index 976https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Releases Annual Report on Low-Income Housing and Community Development Activities of the Federal Home Loan Banks38161<p><strong>​​​Washington, D.C. </strong>– Today, the Federal Housing Finance Agency (FHFA) released its annual report on the low-income housing and community development activities of the Federal Home Loan Banks (FHLBanks).<br></p><p>The report highlights the FHLBanks’ activities and performance in 2021 through the Affordable Housing Program (AHP), the Community Investment Program (CIP), and the Community Investment Cash Advance Program (CICA). The report also covers Community Development Financial Institution (CDFI) membership in the FHLBank System, the FHLBanks’ affordable housing goals, and their purchases of Acquired Member Assets (AMA).&#160;<br></p><p>The FHLBanks provide loans (referred to as advances) or grants to their members or housing associates under these programs. These funds are then used to assist very low-, low-, and moderate-income households and communities.<br></p><p>“The Federal Home Loan Banks provided more than $2.7 billion in 2021 for targeted economic development and housing advances,” said Director Sandra L. Thompson. “As FHFA begins its comprehensive review of the Federal Home Loan Bank System, we recognize its long-term importance in providing liquidity in the housing finance market and funding for community investment projects.”<br></p><p>Key takeaways of the report include&#58;<br></p><ul><li>The FHLBanks awarded approximately $352.4 million in total contributions to the AHP in 2021, which assisted more than 32,000 low- and moderate-income households, more than 17,000 of which were very low-income households.</li><li>The FHLBanks funded approximately $1.7 billion in targeted housing and economic development advances through the CIP in 2021. These CIP housing advances assisted approximately 8,000 households in 2021.</li><li>In 2021, targeted economic development advances from the CICA Program were approximately $1 billion.</li><li>Ten FHLBanks purchased AMA mortgages in 2021, and each met the mortgage purchase and community-based AMA user goals.</li></ul><p>​The FHLBanks also support the financing of low-income housing and community development through other activities, including advances to their non-depository CDFI members. CDFIs assist underserved communities by promoting economic investment and affordable housing opportunities, and providing community development financial services and other banking services. At the end of 2021, 68 FHLBank members were non-depository CDFIs.​<br></p>9/27/2022 5:00:20 PMWashington, D.C. – Today, the Federal Housing Finance Agency (FHFA) released its annual report on the low-income housing and community development activities of the Federal Home 729https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and FPM Report - 2Q202236181<h2 style="border-color&#58;currentcolor;font-family&#58;lato, sans-serif;font-style&#58;normal;padding-top&#58;8px !important;">​​​​2Q22 Highlights —&#160;Foreclosure Prevention<br></h2><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;margin-top&#58;8px !important;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Foreclosure Prevention Actions&#58;</span></p><ul><li style="line-height&#58;1.4 !important;"><p>The Enterprises completed 96,945 foreclosure prevention actions in the second quarter of 2022, bringing the total to 6,591,002 since the start of conservatorships in September 2008. Of these actions, 5,887,049 have helped troubled homeowners stay in their homes, including 2,583,016 permanent loan modifications.</p></li><li style="line-height&#58;1.4 !important;"><p>Initiated forbearance plans decreased to 41,054 in the second quarter from 59,778 in the first quarter of 2022. The total number of loans in forbearance at the end of the quarter was 90,889, representing approximately 0.29 percent of the total loans serviced, and 17 percent of the total delinquent loans.</p></li><li style="line-height&#58;1.4 !important;"><p>Seven percent of modifications in the second quarter were modifications with principal forbearance. Modifications that include reduce rate and extend-term accounted for 75 percent of all loan modifications during the quarter.</p></li><li style="line-height&#58;1.4 !important;"><p>​There were 250 completed short sales and deeds-in-lieu during the quarter, bringing the total to 703,953 since the conservatorships began in September 2008.</p></li></ul><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Mortgage Performance&#58;</span></p><ul><li style="line-height&#58;1.4 !important;"><p>The 60+ days delinquency rate dropped from 1.11 percent at the end of the first quarter to 0.92 percent at the end of the second quarter of 2022. The delinquency rates remained higher than pre-coronavirus rates due to the forbearance programs offered to borrowers affected by the pandemic.</p></li><li style="line-height&#58;1.4 !important;"><p>The Enterprises' s​erious (90 days or more) delinquency rate dropped to 0.79 percent at the end of the second quarter. This compared with 4.64 percent for Federal Housing Administration (FHA) loans, 2.83 percent for Veterans Affairs (VA) loans, and 2.12 percent for all loans (industry average).</p></li></ul><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Foreclosures&#58;</span></p><ul><li style="line-height&#58;1.4 !important;"><p>Foreclosure starts declined 6 percent to 19,388 while third-party and foreclosure sales increased 3 percent to 3,458 in the second quarter.</p></li></ul><blockquote style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;margin-left&#58;40px;"><p style="border-color&#58;currentcolor;"> <em style="border-color&#58;currentcolor;">​For an interactive online map that provides state data, click on the following link&#58;&#160;</em></p><p style="border-color&#58;currentcolor;"> <em style="border-color&#58;currentcolor;"></em><a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx" style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;">Fannie Mae and Freddie Mac State Borrower Assistance Map</a>​<br></p></blockquote> <span style="color&#58;#444444;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;">​</span><span style="color&#58;#444444;font-style&#58;normal;"></span> <h2 style="border-color&#58;currentcolor;font-family&#58;lato, sans-serif;font-style&#58;normal;padding-bottom&#58;8px !important;">2Q22&#160;Highlights ​— Refinance Activities​​<br></h2><ul><li style="line-height&#58;1.4 !important;"><p>Total refinance volume decreased in June 2022 amid rising mortgage rates through May. Mortgage rates rose in June&#58; the average interest rate on a 30-year fixed rate mortgage increased to 5.52 percent from a April level of 5.23 percent, reaching levels last observed in 2008.</p></li><li style="line-height&#58;1.4 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;"><p style="padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">The percentage of borrowers refinancing into shorter term 15-year fixed rate mortgages decreased to 18 percent in May, with borrowers finding the greater monthly affordability of 30-year fixed rate mortgages amid rising rates more attractive than the increased interest rate savings of 15-year fixed rate mortgages which inched toward one percent.</p>​</li></ul> <p style="margin-top&#58;0px !important;margin-bottom&#58;12px !important;">​ <a href="/Media/PublicAffairs/Pages/FHFA-Releases-2nd-Quarter-2022-Foreclosure-Prevention-and-Refinance-Report.aspx">Related News Release</a></p>9/22/2022 5:00:11 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and FPM Report - 2Q2022 Foreclosure 309https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

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