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.
Meet the experts...
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. – The Federal Housing Finance Agency (FHFA) is seeking input on draft requirements that would apply to private mortgage insurance companies that insure mortgage loans owned or guaranteed by Fannie Mae and Freddie Mac. These requirements would apply only to private mortgage insurers that are currently approved to do business with Fannie Mae or Freddie Mac and those seeking approval in the future.
"Mortgage insurance counterparties must be able to fulfill their intended role of providing private capital, even in adverse market conditions," said FHFA Director Mel Watt. "FHFA's Strategic Plan calls on Fannie Mae and Freddie Mac to strengthen the requirements for private mortgage insurance companies that do business with them in order to reduce Fannie Mae's and Freddie Mac's overall risk exposure and protect taxpayers."
Fannie Mae and Freddie Mac are required by their charters to obtain an acceptable form of credit enhancement, such as private mortgage insurance, for loans they purchase or securitize that have loan-to-value ratios that exceed 80 percent. Pursuant to this obligation, each Enterprise has maintained eligibility requirements for approved mortgage insurers for many years. Private mortgage insurance from a sound counterparty helps reduce the credit risk exposure to Fannie Mae and Freddie Mac and shifts the first-loss exposure from taxpayers to the private market.
As Conservator, FHFA has directed Fannie Mae and Freddie Mac to revise, expand and align their risk management requirements for mortgage insurance counterparties. The draft Private Mortgage Insurer Eligibility Requirements reflect a multi-year effort to produce a clear and comprehensive set of standards. The updated financial requirements incorporate a new, risk-based framework that ensures that approved insurers have a sufficient level of liquid assets from which to pay claims. The draft requirements also include enhanced operational performance expectations and define remedial actions that would apply should an approved insurer fail to comply with the revised requirements. FHFA, Fannie Mae and Freddie Mac have consulted with state insurance commissioners and private mortgage insurers that are currently approved to do business with Fannie Mae or Freddie Mac regarding the draft requirements.
FHFA is requesting input for itself and the Enterprises within 60 days or by September 8, 2014. Input should be submitted to the Federal Housing Finance Agency, Division of Housing Mission and Goals, 400 7th Street, SW, Ninth Floor, Washington, DC 20024 Attn: Mortgage Insurance Eligibility Project or via FHFA.gov.
Links:Frequently Asked Questions (links directly to FAQs) Link to Overview and Questions for ConsiderationLink to Draft PMIERsLink to White Paper on FHFA Mortgage Analytics Platform
(Link to Request for Input removed as input period closed)
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The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.5 trillion in funding for the U.S. mortgage markets and financial institutions.
© 2016 Federal Housing Finance Agency