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 2022 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.
As conservator, FHFA is focused on ensuring that each Enterprise builds capital and improves its safety and soundness.
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Operate the business in a safe and sound manner.
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Promote sustainable and equitable access to affordable housing.
2023 Scorecard
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.
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Glossaries
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On June 14, 2022, Fannie Mae and Freddie Mac (the “Enterprises”) both announced a new upfront fee on certain commingled securities, effective July 1, 2022. The Enterprises imposed the fee to partially address the cost of capital an Enterprise is required to hold to guarantee the other Enterprise’s securities.[1] FHFA proposed and finalized this capital requirement in the 2020 Enterprise Regulatory Capital Framework (ERCF).
In the two weeks since the announcement of this fee, FHFA has received valuable feedback from a variety of mortgage market participants, who expressed concerns related to the fee and its potential effects on the Uniform Mortgage-Backed Security (UMBS) market. FHFA remains committed to the continued strength and resilience of the UMBS market, given the significant improvement in liquidity and stability that UMBS has afforded the To-Be-Announced (TBA) market.
In light of this extensive engagement with market participants and FHFA’s ongoing commitment to UMBS, FHFA will explore alternatives to ensure the long-term viability of UMBS, including conducting a review of the ERCF in the near-term to ensure the ERCF appropriately reflects the risks of commingled securities. During this period, the Enterprises will retain the fee covering the collateral of the other Enterprise in commingled securities as scheduled.
FHFA is committed to continuing to engage with a variety of stakeholders on these important issues.
[1]See §1240.35(a)(1) and §1240.35(b)(4)(i)
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Adam Russell Adam.Russell@FHFA.gov
