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 2017 examinations of Fannie Mac, Freddie Mac and the Home Loan Bank System.
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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 2018 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.
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Glossary - Spanish / English
Language Translation Disclosure
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced that more than 3.4 million homeowners have refinanced their mortgages through the Home Affordable Refinance Program (HARP). FHFA's first quarter Refinance Report shows that more than 19,000 HARP refinances were completed through March, bringing the total to 3,400,543 refinances since the program began in 2009.
Eligible Borrowers Can Save Money
HARP expires at the end of this year and there are still more than 325,000 U.S. borrowers eligible for the program who have a financial incentive to refinance. 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.
Final HARP Webinar
FHFA will hold its final HARP outreach webinar on May 24 to provide community leaders with tools to help encourage eligible borrowers to take advantage of HARP before it expires. FHFA will be joined by representatives from Freddie Mac, Fannie Mae, the U.S. Department of the Treasury, Quicken Loans, and Neighborworks America. Register for the webinar here.
Also in the Refinance Report:
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, take advantage of low interest rates and other refinancing benefits.
FHFA launched a nationwide public awareness campaign and the website HARP.gov and 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: Chicago, Atlanta, Detroit, Miami, Newark and Phoenix. FHFA has also hosted webinars designed to reach eligible borrowers in Ohio and Maryland, and 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
Media: Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030Consumers: Consumer Communications or (202) 649-3811
© 2018 Federal Housing Finance Agency