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 2015 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.
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.
Meet the experts...
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 6th to a 5-year term as the first Senate-confirmed Director of FHFA.
Read more about Director Watt
Federal law requires the Federal Housing Finance Agency (FHFA) to issue a regulation to implement the Duty to Serve requirements specified in the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008. The statute requires Fannie Mae and Freddie Mac (the Enterprises) to provide leadership to facilitate a secondary market for mortgages on housing for very low-, low-, and moderate-income families in three underserved markets specified in the statute:
FHFA has issued a final rule that takes into consideration underserved markets needs and safety and soundness.
The Duty to Serve Program will award duty to serve credit for very low-, low-, and moderate income families tied to specific high needs and high opportunity areas as defined by the Duty to Serve regulation. These areas include:
The Duty to Serve regulation has specific definitions for each of the high need and high opportunity areas identified in the regulation. The Duty to Serve definition for "rural areas" is based on Rural-Urban Community Area, or RUCA, codes. The Duty to Serve regulation also identifies members of a Federally recognized Indian tribe living in Indian areas as a high-needs rural population that Fannie Mae and Freddie Mac may serve in rural areas. High opportunity areas for purposes of Duty to Serve, include areas designated by Housing and Urban Development (HUD) as a "Difficult Development Area" (DDA). DDA census tracts must also meet the maximum poverty rate thresholds established by FHFA.
Click the link below to access datasets on rural areas,Indian areas, and high opportunity areas. Link to Duty to Serve Data
Duty to Serve Overview Video (2-22-2017) Potential Manufactured Home Chattel Loans Pilots(1-18-2017)Final Rule (12-29-2016)Duty to Serve Program Fact Sheet (12-13-2016)Proposed Rule (12-18-2015) Proposed Rule Fact Sheet (12-15-2015)
Listening Session Overview Slides (2-9-2017)Listening Session Transcript – Webinar (2-9-2017)Listening Session Transcript – FHFA Headquarters (2-8-2017)Listening Session Transcript – Federal Reserve Bank of San Francisco
(2-1-2017)Listening Session Transcript – Federal Reserve Bank of Chicago (1-25-2017)Stakeholder Webinar Recording (12-19-2016)Stakeholder Webinar Transcript (12-19-2016)Stakeholder Webinar Slides (12-19-2016)
FHFA Extends Public Input Period for Proposed Duty to Serve Evaluation Guidance (5-8-2017)
FHFA Requests Public Input on Fannie Mae and Freddie Mac's Proposed Underserved Markets Plans for Duty to Serve Program (5-8-2017)
Public Input on Potential Chattel Loan Pilot (2-8-2017)
Public Input on Duty to Serve Program (1-18-2017)Final Rule (12-13-2016)
Proposed Rule (12-15-2015)
Submit your questions to us via
Below are links to Fannie Mae's and Freddie Mac's (the Enterprises) proposed Underserved Markets Plans (Plans) for public input. The proposed Plans describe specific activities and objectives each Enterprise proposes to undertake from 2018-2020 to fulfill its Duty to Serve obligations in each underserved market - manufactured housing, affordable housing preservation, and rural markets. The final Plans must receive a non-objection letter from FHFA. The activities and objectives in the Plans may be subject to change based on factors including public input, FHFA comments, compliance with the Enterprises' Charter Acts, safety and soundness considerations, and market or economic conditions.
The views of interested stakeholders are sought on whether the proposed Plans would effectively serve the underserved markets if carried out as proposed, or if there are modifications that each Enterprise should consider making to its proposed Plan to better serve these underserved markets. Stakeholders providing public input should bear in mind that the Plans must be accomplished within the confines of the safety and soundness and the goals and policies of the Enterprises' conservatorships.
The public input period on the Enterprises' proposed Plans will end on July 10, 2017.
Fannie Mae Proposed Underserved Markets Plan Freddie Mac Proposed Underserved Markets Plan
The deadline for public input on FHFA’s Proposed Evaluation Guidance is extended to June 7, 2017.
Proposed Evaluation Guidance for public input on January 13, 2017. The purpose of the Evaluation Guidance is two-fold: to communicate FHFA's expectations regarding the development of the Underserved Markets Plans and to describe the process by which FHFA will evaluate the Enterprises' achievements under their Plans each year. The Duty to Serve regulation provides for a public input period on the Proposed Evaluation Guidance intended to overlap with the public input period on the Enterprises' proposed Plans, so that interested stakeholders can consider the proposed Plans in formulating their input on the Proposed Evaluation Guidance. In light of the posting of the Enterprises' proposed Plans on May 8, 2017, FHFA is extending the public input period on the Proposed Evaluation Guidance to June 7, 2017 to provide additional time for stakeholders to review the Proposed Evaluation Guidance in conjunction with the proposed Plans.
Fannie MaeFreddie MacFannie Mae StatementFreddie Mac Statement
Matt DouglasDuty to Serve Assistant Program ManagerJim Gray
Duty to Serve Program ManagerShannon MaloneyDuty to Serve Program AnalystMary OwensDuty to Serve Affordable Multifamily SpecialistShiv RawalDuty to Serve Affordable Rural SpecialistGeenae R. Rivera Soto Duty to Serve Affordable Single-Family Specialist
Meet the Experts
© 2017 Federal Housing Finance Agency