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 2016 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 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.
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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 6, 2014 to a 5-year term as the first Senate-confirmed Director of FHFA.
Read more about Director Watt
Washington, D.C. – Refinance volume dipped slightly in May from the prior month but remained strong as mortgage rates stayed just above record low levels, according to the Federal Housing Finance Agency’s May 2013 Refinance Report. More than 418,000 refinances took place in May, with nearly 85,000 completed through the Home Affordable Refinance Program (HARP). More than 2.6 million refinances have now been completed through HARP since the program began in April 2009.
Also in the May 2013 report:
HARP volume represented 20 percent of total refinance volume in May.
Borrowers with loan-to-value (LTV) ratios greater than 105 percent accounted for 44 percent of the volume of HARP loans through May.
The number of completed HARP refinances for deeply underwater borrowers continued to represent a significant portion of total HARP volume.
In May 2013, 19 percent of the loans refinanced through HARP had a LTV ratio greater than 125 percent.
Year-to-date through May, 18 percent of HARP refinances for underwater borrowers were for 15- and 20-year mortgages.
Year-to-date through May, HARP refinances represented 60 percent of total refinances in Nevada and 51 percent of total refinances in Florida, more than double the 21 percent of total refinances nationwide over the same period.
The top five states with the highest number of HARP loans since the inception of the program through May include: California (368,905), Florida (235,223), Michigan (178,035), Illinois (175,521), and Arizona (130,894).
May 2012 Refinance Report
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.
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