This annual report describes FHFA's accomplishments, as well as challenges, the agency faced in meeting the strategic goals and objectives during the past fiscal year.
Read about the agency’s 2018 examinations of Fannie Mac, Freddie Mac and the Home Loan Bank System.
Submit comments and provide input on FHFA Rules Open for Comment by clicking on Rulemaking and Federal Register.
Goal: Help restore confidence, enhance capacity to fulfill mission, and mitigate systemic risk that contributed directly to instability in financial markets.
MAINTAIN foreclosure prevention activities and credit availability, REDUCE taxpayer risk, and BUILD a new single-family securitization infrastructure. Read more in the 2018 Scorecard and Conservatorships Strategic Plan.
Plans and Reports
FHFA experts provide reliable data, including all states, about activity in the U.S. mortgage market through its House Price Index, Refinance Report, Foreclosure Prevention Report, and Performance Report.
FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector. Meet the experts...
Glossary - Spanish / English
Language Translation Disclosure
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced it is taking new steps to reach homeowners who could benefit from the Home Affordable Refinance Program (HARP). FHFA Director Mel Watt will join housing experts and community leaders in a town hall-style meeting at the Woodson Regional Library in Chicago on July 8 to discuss the benefits of HARP and encourage the approximately 36,000 Chicago residents still eligible to participate in the program. These borrowers could save two to three thousand dollars each year by refinancing their mortgage. But many eligible borrowers who would benefit from doing so have failed to take advantage of the HARP program.
FHFA last year launched a nationwide public awareness campaign and
HARP.gov to reach eligible borrowers and encourage them to participate in HARP. The campaign will now include town hall-style events in targeted cities that have the highest number of "in-the-money" borrowers who have yet to take advantage of a HARP refinance. Borrowers are considered "in-the-money" if they meet the basic HARP eligibility requirements, have a remaining balance of either $50,000 or more on their mortgage, have a remaining term on their mortgage greater than 10 years, and their mortgage interest rate is at least 1.5 percent higher than current market rates.
FHFA today also unveiled an interactive online map indicating the number of estimated "in-the-money" borrowers eligible for HARP in every zip code, county and metropolitan statistical area in the country. The map is accessible through
At the Chicago event, Sandra Thompson, FHFA's Deputy Director for Housing Mission and Goals, will moderate a panel discussion featuring Director Watt, officials from Fannie Mae, Freddie Mac, Wells Fargo and a community leader from Neighborhood Housing Services of Chicago, Inc. The event is geared to local community and civic leaders who can share information about HARP with homeowners in the Chicago area. Event attendees will receive a dedicated toolkit specific to Chicago describing in greater detail the elements of HARP and how borrowers stand to benefit from the program. FHFA will announce future HARP events in the coming weeks.
"We know that there are hundreds of thousands of borrowers who can still benefit from HARP and are essentially leaving money on the table by not taking advantage of the program," said Watt. "By engaging directly with local community leaders, faith-based organizations, local elected officials and lenders, our goal is to leverage these trusted sources to reach as many 'in-the-money' borrowers as we can."
To be eligible for HARP, homeowners must meet the following criteria:
Their loan must be owned or guaranteed by Fannie Mae or Freddie Mac.
Their mortgage must have been originated on or before May 31, 2009.
Their current loan-to-value ratio must be greater than 80 percent.
They must be current on their mortgage payments with no late payments in the last six months and no more than one late payment in the last 12 months.
FHFA and the U.S. Department of the Treasury introduced HARP in early 2009 as part of the Making Home Affordable program. HARP is one of the only refinance programs that allows borrowers with little or no equity to take advantage of low interest rates and other refinancing benefits. As of April 2014, more than 3.1 million homeowners have refinanced through HARP.
Link to HARP Toolkit
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.6 trillion in funding for the U.S. mortgage markets and financial institutions.
Stefanie Johnson (202)
649-3030 / Corinne
© 2019 Federal Housing Finance Agency