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 2020 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.
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.
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. – The Federal Housing Finance Agency (FHFA) today reported that the total number of loans refinanced through the Home Affordable Refinance Program (HARP) in the second quarter was nearly the same as the number of HARP refinances through the first quarter. FHFA's second quarter Refinance Report indicates that 31,561 HARP refinances were completed between April and June, down slightly from the 31,648 HARP refinances completed from January through March.
3.3 million borrowers have refinanced their homes through HARP since the program began in 2009, and FHFA estimates that, as of March, more than
578,000 borrowers nationwide still have a financial incentive to refinance through the program. The top five states with the highest numbers of "in-the-money" borrowers that remain eligible for a HARP refinance are Florida, Ohio, Illinois, Michigan and Georgia.
Borrowers are considered "in-the-money" if they meet the basic HARP eligibility requirements, have a remaining mortgage balance of $50,000 or more, have a remaining term of greater than 10 years, and an interest rate at least 1.5 percent higher than current market rates. Nationwide, these borrowers could save, on average, as much as $200 per month on their mortgage payments, or $2,400 per year. See the
U.S. map showing the number of HARP-eligible borrowers by Metropolitan Statistical Area, county and zip code.
FHFA is continuing its efforts to reach HARP-eligible borrowers and has held town-hall style events with local community leaders in Chicago, Atlanta, Detroit, Miami, Newark and Phoenix to get the word out about HARP. FHFA announced in May that HARP was extended through December 2016.
Also in the second quarter Refinance Report:
Media: Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032 Consumers: Consumer Communications or (202) 649-3811
© 2023 Federal Housing Finance Agency