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.
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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.
FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector. Meet the experts...
Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) announced that it is seeking comments on a notice of proposed rulemaking that establishes a new regulatory capital framework for Fannie Mae and Freddie Mac (the Enterprises). The proposed rule is a re-proposal of the notice of proposed rulemaking published in July 2018. Comments will be due 60 days after the notice is published in the Federal Register.
The 2018 proposal remains the foundation of the re-proposal. The enhancements in the new proposal preserve the mortgage risk-sensitive framework of the 2018 proposal, while increasing the quantity and quality of the Enterprises' regulatory capital and reducing the pro-cyclicality of the aggregate capital requirements. Together, the enhancements in the re-proposal ensure each Enterprise's safety and soundness and its ability to fulfill its statutory mission across the economic cycle, in particular during periods of financial stress. The re-proposal is also a critical step toward responsibly ending the conservatorships.
"This national health crisis has affirmed the importance of the Enterprises' mission to serve the American housing market during good times and bad. When credit dries up, low- and moderate-income households are hurt most. We must chart a course for the Enterprises toward a sound capital footing so they can help all Americans in times of stress," said FHFA Director Mark Calabria. "More capital means a stronger foundation on which to weather crises. The time to act is now."
FHFA invites interested parties to submit comments on the notice of proposed rulemaking within 60 days of its publication in the Federal Register via FHFA.gov or via mail, FHFA, Eighth Floor, 400 Seventh Street, SW, Washington, DC 20219. FHFA will also be holding a public webinar on the proposed rule in the near future.
Link to Proposed Rule
Link to Fact Sheet: Proposed Rule on Enterprise Capital
FHFA is also closely monitoring the COVID-19 pandemic's impact on the housing finance system and will update our policies as needed. To see actions taken to date, please visit
Media: Raffi Williams
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