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.
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...
On Wednesday, April 28, 2021, the Federal Housing Finance Agency (FHFA) announced that it is directing Fannie Mae and Freddie Mac (the Enterprises) to implement a new refinance option targeting low-income borrowers with Enterprise-backed single-family mortgages.
Despite the recent high levels of refinancing in the mortgage market, low-income borrowers have been less likely to take advantage of the favorably low mortgage interest rate environment than higher-income borrowers. This initiative is intended to encourage eligible low-income borrowers to refinance and lower both their interest rates and their monthly mortgage payments.
Borrowers eligible for this refinance option will benefit from a reduced interest rate and a lower monthly mortgage payment. This option will require that borrowers receive a meaningful benefit from refinaning: a minimum of a 50 basis point reduction in their interest rate and savings of at least $50 in their monthly mortgage payment. In addition, borrowers will receive a maximum $500 credit from the lender if an appraisal is required. Finally, for loans with low-income borrowers and loan balances at or below $300,000, the Enterprises will waive the 50 basis point up-front adverse refinance market fee that the Enterprises otherwise charge to lenders.
In order to be eligible for this option, a borrower must:
Other eligibility restrictions apply and will be aligned across the Enterprises regardless of whether the borrower has a Fannie Mae-backed mortgage or a Freddie Mac-backed mortgage.
The Enterprises plan to work with their respective lenders to make this option available to eligible borrowers as soon as possible. FHFA will work with the Enterprises and lenders to encourage robust marketing and outreach efforts to reach eligible borrowers and maximize participation rates for this refinancing option.
Related News Release
Media: Raffi Williams Raffi.Williams@FHFA.gov / Adam Russell Adam.Russell@FHFA.gov
© 2022 Federal Housing Finance Agency