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 2022 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.
1.
Operate the business in a safe and sound manner.
2.
Promote sustainable and equitable access to affordable housing.
2023 Scorecard
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.
Source: FHFA
FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector. Meet the experts...
Glossaries
COVID-19 Resources
Deemed-Issuance Ratio for Internal
Revenue Code (IRC) 817(h)
The Federal Housing Finance Agency (FHFA) announced the first deemed-issuance ratio (for the 2019 calendar year) in accordance with Internal Revenue Service (IRS) guidelines on the trading of the Uniform Mortgage-Backed Security on December 6, 2018. IRS Revenue Procedure 2018-54 calls for FHFA to determine a deemed-issuance ratio for each calendar year based on the ratio of TBA-eligible securities issued by Fannie Mae and Freddie Mac during the 24-month period ending October 31 of the preceding year.
On November 30, 2023, FHFA announced the deemed-issuance ratio for the 2024 calendar year.
The IRS procedure provides that the ratio may be rounded as long as the rounded ratio is further from 50-50 than the actual observed data. Therefore, the deemed-issuance ratio for the 2024 calendar year is 53 percent Fannie Mae and 47 percent Freddie Mac.
FHFA plans to announce the ratio annually at least three weeks prior to the affected calendar year and will update this table accordingly.
Year
2024
Fannie Mae
$1,065.854
53
Freddie Mac
$957.202
47
2023
$2,171.306
$1,939.425
2022
$2,562.654
56
$2,134.823
44
2021
Fannie Mae
$1,637.579
60
Freddie Mac
$1,232.936
40
2020
$947.251
$686.309
2019
Fannie Mae
$940.344
60
Freddie Mac
$650.411
40
Page updated: 11/30/2023
