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 2019 examinations of Fannie Mac, Freddie Mac and the Home Loan Bank System.
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Implement critical reforms that will produce a stronger and more resilient housing finance system.
FOSTER competitive, liquid, efficient, and resilient (CLEAR) national housing finance markets that support sustainable homeownership and affordable rental housing; OPERATE in a safe and sound manner appropriate for entities in conservatorship; and PREPARE for eventual exits from the conservatorships.
2019 Conservatorships Strategic Plan
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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FHFA has stated that business will continue as usual at the Enterprises during the conservatorship—this applies to both their single-family and multifamily businesses.
FHFA recognizes the importance of all aspects of the Enterprises’ multifamily businesses—including the LIHTC (low-income housing tax credit) area and liquidity facilities for remarketed mortgage revenue bonds—for a healthy secondary market and housing affordability. In particular, support for multifamily housing finance is central to the Enterprises’ public purpose.
FHFA’s September 7, 2008 Statement Regarding Contracts of Enterprises in Conservatorship (posted on www.ofheo.gov) applies equally to the single-family and multifamily businesses. It states that the conservatorship does not affect existing contracts, nor the authority of the Enterprises to enter into new contracts, nor their enforceability.
As conservator, FHFA expects each Enterprise to continue underwriting and financing sound multifamily business. We also do not expect either company to liquidate its portfolio of LIHTC or mortgage-revenue bonds.
FHFA will only intervene when there is a question of unsafe and unsound business practice that would have a negative impact on an Enterprise’s financial position and is outside of the normal course of business. Under these unusual circumstances, both Enterprises would first seek advice and guidance from FHFA before proceeding further as they deem appropriate.
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