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.
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As conservator, FHFA is focused on ensuring that each Enterprise builds capital and improves its safety and soundness.
Operate the business in a safe and sound manner.
Promote sustainable and equitable access to affordable housing.
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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Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its fourth quarter 2022 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 52,469 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,712,833 since the start of conservatorships in September 2008.
The report also shows that 37 percent of loan modifications completed in the fourth quarter reduced borrowers’ monthly payments by more than 20 percent. The number of refinances decreased amid rising mortgage rates from 194,189 in the third quarter to 111,251 in the fourth quarter.
The Enterprises’ serious delinquency rate declined slightly from 0.68 percent to 0.65 percent at the end of the fourth quarter. This compares with 4.40 percent for Federal Housing Administration (FHA) loans, 2.43 percent for Veterans Affairs (VA) loans, and 1.89 percent for all loans (industry average).
Other highlights from the report include:
FHFA’s quarterly foreclosure prevention and refinance reports include data on the Enterprises’ mortgage performance, delinquencies, and active forbearance plans, as well as forfeiture actions and refinances by state. The data included in these reports are also available on FHFA's website as an interactive Borrower Assistance Map.
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