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 2017 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.
HARP - the Home Affordable Refinance Program was created by FHFA specifically to help homeowners current on their mortgage payments, but underwater on their mortgages.
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) is seeking comments on a proposed regulation on capital requirements for Fannie Mae and Freddie Mac (the Enterprises). The proposed rule would implement a new framework for risk-based capital requirements and a revised minimum leverage capital requirement for the Enterprises.
FHFA suspended regulatory capital requirements after placing the Enterprises into conservatorships in September 2008. While the capital requirements in this rule would also be suspended while the Enterprises remain in conservatorship, FHFA believes it is appropriate to communicate the Agency's views as a financial regulator about capital adequacy and to allow market participants and all stakeholders to comment on the proposed capital requirements.
"We think it is important for FHFA, as the prudential regulator for Fannie Mae and Freddie Mac, to articulate our views on capital requirements and to start a healthy discussion about the amount of capital the Enterprises should have to appropriately shield taxpayers from assistance," said FHFA Director Melvin L. Watt. "In addition, feedback on this proposed rule will inform FHFA's views as conservator in making possible refinements to our assumptions about capital as we evaluate the Enterprises' business decisions during conservatorship."
The proposed rule builds on FHFA's work with the Enterprises to develop a Conservatorship Capital Framework (CCF) that is now being used to align capital guidelines for both Enterprises. Despite the Enterprises' limited ability to hold capital under the Senior Preferred Stock Purchase Agreements (PSPAs), FHFA developed this aligned risk management framework to better inform each Enterprise's business decisions while in conservatorship and both Enterprises use the CCF to make their regular business decisions. FHFA also uses the CCF in its role as conservator to assess Enterprise guarantee fees, activities, and operations and to guard against the Enterprises making competitive decisions that could adversely impact safety and soundness.
FHFA invites interested parties to submit comments on the proposed rule via FHFA.gov within 60 days of publication in the Federal Register or via mail, FHFA, Eighth Floor, 400 Seventh Street, SW, Washington, DC 20219. FHFA will also be holding a webinar on the proposed rule on June 19 at 1:30 p.m. EDT to explain the proposed rule and answer questions. Register for the webinar
Link to Proposed Rule
Link to Fact Sheet: Proposed Rule on Enterprise Capital
Media: Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030Consumers: Consumer Communications or (202) 649-3811
© 2018 Federal Housing Finance Agency