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.
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, DC – The Federal Housing Finance Agency (FHFA) today announced that 18,310 borrowers refinanced their mortgages through the Home Affordable Refinance Program (HARP) through June this year. FHFA's second quarter
Refinance Report shows that while total refinance volume increased in June, as mortgage interest rates edged lower, HARP refinances represented only 4 percent of total refinances, the lowest percentage since the second quarter of 2009 when the program was first launched. Total HARP refinances now stand at 3,418,854.
There are still
more than 323,000 U.S. borrowers eligible for the program who have a financial incentive to refinance, as of the first quarter of 2016. These so called "in-the-money" borrowers meet the basic HARP eligibility requirements, have a remaining balance of $50,000 or more on their mortgage, have a remaining term on their loan of greater than 10 years, and their mortgage interest rate is at least 1.5 percent higher than current market rates. These borrowers could save, on average, $2,400 per year by refinancing their mortgage through HARP. See the new, updated
U.S. map showing the number of HARP-eligible borrowers by Metropolitan Statistical Area, county and zip code.
Also in the
FHFA and the Treasury Department introduced HARP in early 2009 as part of the Making Home Affordable program. HARP allows borrowers who are current on their mortgage payments, but have little or no equity in their home, to take advantage of low interest rates and other refinancing benefits.
FHFA launched a nationwide public awareness campaign and the website
HARP.gov/espanol in 2013 to reach eligible borrowers. Since 2014, FHFA has held a series of outreach events in the cities with the highest numbers of eligible borrowers:
Phoenix. FHFA has also hosted webinars designed to reach eligible borrowers in
Maryland, and a webinar designed to encourage borrowers
across the country to take advantage of HARP. FHFA has also conducted several social media campaigns to raise awareness about the savings available through HARP. Follow @FHFA and #HARPNow on Twitter, LinkedIn and YouTube for more information.
Link to Refinance Report
Link to HARP.gov
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.7 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube and LinkedIn.
Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030
Consumers: Consumer Communications or (202) 649-3811
© 2020 Federal Housing Finance Agency