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.
Operate the business in a safe and sound manner.
Promote sustainable and equitable access to affordable housing.
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...
* UPDATE: In July 2022, the Federal Housing Finance Agency, Fannie Mae, and Freddie Mac added the updated Supplementary Consumer Information Form (SCIF) (Fannie Mae/Freddie Mac 1103) to the Mortgage Translations website. The SCIF helps industry professionals collect borrower information with standardized questions about homeownership education, housing counseling, and language preference. Additionally, the revised Mortgage Assistance Application, Borrower Solicitation Letter, Forbearance Servicer Script, and a Servicer Script for Homeowners with a Resolved COVID-19 Hardship were also added. All of the documents are now available in English, Spanish, Chinese, Vietnamese, Korean, and Tagalog.
For more information: see Mortgage Translations page.
The Federal Housing Finance Agency's (FHFA) 2018 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions required the Enterprises to support access to credit for mortgage-ready borrowers with limited English proficiency (LEP), including a multi-year language access plan. 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:
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) was developed for lenders to collect preferred language information should they choose to do so.
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.
Improving Language Access in Mortgage Lending and Servicing Request for Input
View Input Submitted
News Release: Mortgage Translations Online Clearinghouse Now Includes Vietnamese, Korean, and Tagalog Languages (9/30/2020)
News Release: FHFA Makes Translated COVID-19 Resources Available in Six Languages on LEP Site
Joint Announcement: Mortgage Translations Clearinghouse Now Includes Chinese and Spanish Language (10/23/2019)
Joint Announcement: Mortgage Translations Clearinghouse 現提供中文及西班牙文資料;加入中文資料有助於業界人士及借貸人順利完成抵押貸款及購房流程 (2019 年 10 月 23 日訊）
Joint Announcement: URLA February 1, 2020 Mandate Rescheduled; New Requirements Provided(8/8/2019)
News Release: Mortgage Translations Clearinghouse Launched to Help Borrowers with English Language Barriers (10/15/2018)
Comunicado de Prensa: Se lanza el Centro de Traducciones Hipotecarias como ayuda para los prestatarios con barreras en usar el inglés (10/15/2018)
Video: Introducing Mortgage Translations (10/15/2018)
Mortgage Translations: A New Clearinghouse to Support Limited English Proficient (LEP) Borrowers (10/15/2018)
Blog: Mortgage Translations Clearinghouse Aims to Assist Homebuyers in Their Language(10/4/2018)
Language Access Multi-Year Plan (5/10/2018)
News Release: Preferred Language Question to be Added to the Redesigned Uniform Residential Loan Application (10/20/2017)
Comunicado de Prensa: Pregunta sobre el lenguaje de preferencia será añadida a la solicitud rediseñada del Préstamo Hipotecario Residencial Uniforme
Preferred Language Question for the Uniform Residential Loan Application (10/20/2017)
Preferred Language Consumer Testing Briefing (September 2017 Testing) - Conducted by Kleimann Communication Group (10/20/2017)
FHFA Reopens and Extends Deadline to September 1 on RFI to Improve Access to Credit for Qualified Mortgage Borrowers with Limited English Proficiency (8/4/2017)
Uniform Residential Loan Application (URLA) Round 7 Consumer Testing Briefing (July 2016) - Conducted by Kleimann Communication Group (8/4/2017)
FHFA Extends Deadline to July 31 on Request for Input to Improve Access to Credit for Qualified Mortgage Borrowers with Limited English Proficiency (6/29/2017)
Language Access for Limited English Proficiency Borrowers: Final Report - Conducted by Kleimann Communication Group for Freddie Mac and Fannie Mae (April 2017) (6/14/2017)
FHFA Issues Request for Input to Improve Access to Credit for Qualified Mortgage Borrowers with Limited English Proficiency (5/25/2017)
Last updated: July 6, 2022
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