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Performance and
Accountability Report

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.

FHFA Values

Fairness	We value varied perspectives and thoughts and treat others with impartiality.
Accountability	We are responsible for carrying out our work with transparency and professional excellence.
Integrity	We are committed to the highest ethical and professional standards to inspire trust and confidence in our work.
Respect	We treat others with dignity, share information and resources, and collaborate.

Supervision
& Regulation

Annual Report to Congress

Read about the agency’s 2019 examinations
of Fannie Mac, Freddie Mac and
the Home Loan Bank System.

Plans and Reports

We Want to Hear From You

Submit comments and provide input on FHFA Rules Open for Comment by clicking on Rulemaking and Federal Register.

Conservatorship

Conservatorship of Fannie Mae
and Freddie Mac

Implement critical reforms that will produce a stronger and more resilient housing finance system.

Conservatorship
Performance Goals

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.

2020 Scorecard

2019 Conservatorships Strategic Plan

Data & Tools

Downloadable Data
& Data 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.

House Price Index Release Dates

See HPI Release Dates for 2020 and 2021

Policy, Programs & Research

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...

Mortgage Translations
Mortgage Translations

Glossaries

COVID-19 Resources

Language Access

Policy

Credit Risk Transfer

Credit Scores

Executive Compensation

Fannie Mae & Freddie Mac Affordable Housing Allocations

Fannie Mae & Freddie Mac Multifamily Businesses

Fannie Mae & Freddie Mac Private Mortgage Insurer Eligibility Requirements (PMIERs)

Guarantee Fees

Language Access

Mortgage Servicing

Non-Performing Loan Sales

Principal Reduction Modification

Real Estate Owned (REO)

Representation and Warranty Framework

Single Security Initiative and Common Securitization Platform

Programs

Meet the Experts

Research

Home / Policy, Programs & Research / Policy / Language Access

Language Access

* UPDATE: In September 2020, the Federal Housing Finance Agency, Fannie Mae, and Freddie Mac have recently added documents and glossaries in Korean and Tagalog, an Interpretive Services page with a listing of oral interpretation resources, and an educational servicing brochure describing options for homeowners having difficulty paying their mortgage in six languages. The Uniform Residential Loan Application was also added in Chinese, Vietnamese, Korean, and Tagalog.

The Federal Housing Finance Agency's (FHFA) 2018 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions requires the Enterprises to continue to support access to credit for mortgage-ready borrowers with limited English proficiency (LEP), including finalizing a multi-year language access plan and beginning plan implementation. The Language Access Multi-Year Plan (published May 2018) was developed by Fannie Mae and Freddie Mac in conjunction with FHFA based on research and testing conducted in 2017 (described below) to identify major obstacles for LEP borrowers in accessing mortgage credit and to analyze potential solutions. Key milestones include:

Clearinghouse: Create an online clearinghouse to provide a centralized collection of resources to assist lenders, servicers, and housing counselors in serving LEP borrowers. The clearinghouse was launched in October 2018.
Language Access Working Group: Establish a language access working group as a forum for representatives from the housing industry and consumer organizations to provide FHFA and the Enterprises their insights, commentary, and experiences related to serving LEP borrowers.
Glossaries: Develop translated glossaries that will play a foundational role for improving language access by establishing common terminology that will facilitate standardized translations for all other documents.
Disclosure: Develop a translated disclosure available for use by lenders and servicers to explain that mortgage transactions are likely to be conducted in English, and that identification of a preferred language by the borrower does not mean that lenders or servicers are able to provide, or agree to provide, communications in the preferred language.
Language Access Line: Develop and implement a language access line that enables borrowers to obtain assistance from housing counselors and others in their preferred language.

View the Plan

In addition, as part of Fannie Mae and Freddie Mac’s URLA announcement in August 2019, a voluntary consumer information form (VCIF) will be developed for lenders to collect preferred language information should they choose to do so. For more information and questions about updated URLA requirements, please see Fannie Mae and Freddie Mac’s Aug. 8, 2019 joint announcement.

2016 - 2017 Language Access Activities of FHFA and the Enterprises
FHFA's 2017 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions required the Enterprises to identify major obstacles for LEP borrowers in accessing mortgage credit, analyze potential solutions, and develop a multi-year plan to support improved access.

As part of this research, in May 2017 FHFA requested public input on issues faced by LEP borrowers throughout the mortgage life cycle to better understand the experiences of these borrowers and the mortgage industry participants who serve them. FHFA and the Enterprises also conducted outreach to industry and consumer groups on these issues.

The Enterprises conducted interviews and focus groups with borrowers whose primary language was not English and with lenders and servicers. These interviews and focus groups examined how limited English proficient borrowers engage in the mortgage process and how lenders and servicers engage with them. Each round of testing was conducted by Kleimann Communication Group on behalf of the Enterprises. Results from these interviews and focus groups are detailed in Kleimann's April 2017 report.