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 2015 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 2016 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.
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Key Topics pages provide information about FHFA's work on a range of issues facing the nation and highlight the most relevant related news releases, reports, statements and web pages on the respective topics.
The Honorable Melvin L. Watt of Charlotte, NC sworn in on January 6th to a 5-year term as the first Senate-confirmed Director of FHFA.
Read more about Director Watt
Washington, D.C. – Fannie Mae and Freddie Mac refinanced more than 3.2 million mortgage loans in 2009 through August of this year. In the month of August alone, nearly 360,000 mortgages were refinanced. The numbers were announced today by Edward J. DeMarco, Acting Director of the Federal Housing Finance Agency (FHFA), in its monthly report on Enterprises’ refinance volumes and the Administration’s Making Home Affordable Refinance Program (HARP).
"Successful refinancing is a key element of the ongoing efforts to stabilize the housing market," said DeMarco. "So far, more than 260,000 homeowners who are current on their mortgage payments have been assisted through the HARP and other streamlined refinance programs administered by Fannie Mae and Freddie Mac," said DeMarco. "The number is certain to grow as expanded refinance opportunities go into effect this fall."
In July, FHFA announced the expansion of HARP to allow borrowers with LTVs up to 125 percent to participate. Fannie Mae began accepting deliveries of refinanced whole loans with LTVs over 105 percent up to 125 percent on September 1. Fannie Mae will begin taking deliveries for mortgage-backed securities (MBS) for loans with LTVs over 105 percent up to 125 percent on October 1. Freddie Mac will begin accepting deliveries of these loans on October 1. This will allow more borrowers to refinance and to do so without added mortgage insurance requirements, a previous barrier to refinancing.
The report, which covers January 1, 2009 through August 31, 2009, shows an increase in refinancing in the first half of the year as mortgage rates dropped. Refinance volumes fell from July to August in response to a sharp rise in mortgage rates in June. Refinance volumes are strongly influenced by mortgage rates with the effect most visible on a one- to two-month lag.
Operational challenges and capacity constraints on an industry-wide scale have limited HARP loan traction to date but expectations are for increased volume in the months ahead.
August 2009 Refinance Report
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $6.3 trillion in funding for the U.S. mortgage markets and financial institutions.
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