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 2019 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.
Implement critical reforms that will produce a stronger and more resilient housing finance system.
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.
2019 Conservatorships Strategic Plan
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...
Fannie Mae and Freddie Mac continue to play a significant role in supporting multifamily housing needs, particularly for low-income households. FHFA's goal is to maintain Enterprise support of the multifamily affordable housing market without crowding out private capital. FHFA's focus includes multifamily lending for affordable units across several sectors, including traditional affordable housing such as Low-Income Housing Tax Credit (LIHTC) properties, seniors housing, rural markets, and manufactured housing communities.
FHFA will require the Enterprises to continue using credit risk transfers for their multifamily business, resulting in the private market sharing in potential credit losses. The Enterprises use two models of credit risk transfers: Fannie Mae uses loss-sharing transactions through a delegated underwriting system, which has produced low losses since it was first offered in 1988; and Freddie Mac has a capital markets execution to transfer the bulk of its credit risk. Both approaches align interests between the Enterprises and lenders to manage complex credit decisions and limit losses. The positive results of these models were confirmed by the Enterprises' multifamily portfolio performance through the 2008 financial crisis and by the broad liquidity available to most segments of the market.
FHFA Revises Multifamily Loan Purchase Caps for Fannie Mae and Freddie Mac (September 13, 2019 News Release)FACT SHEET: New Multifamily Caps for Fannie Mae and Freddie Mac (September 13, 2019) Prepared Remarks of Melvin L. Watt at the Brookings Institution Forum on the Future of Fannie Mae and Freddie Mac2014 Scorecard for Fannie Mae, Freddie Mac and Common Securitization SolutionsThe 2014 Strategic Plan for the Conservatorships of Fannie Mae and Freddie MacFHFA Seeks Public Input on Reducing Fannie Mae and Freddie Mac Multifamily Businesses (August 9, 2013 News Release)FHFA Releases Fannie and Freddie Reports on Viability of Their Multifamily Businesses Without Government Guarantees (May 3, 2013 News Release)Fannie Mae: Analysis of the Viability of Fannie Mae’s Multifamily Business Operating without a Government Guarantee - Response to FHFA Scorecard Directive (December 17, 2012) Freddie Mac: Report to the Federal Housing Finance Agency: Housing Finance Reform in the Multifamily Mortgage Market (December 2012)Freddie Mac Multifamily Third-Party Reports
Undated Arbor Commercial MortgageUndated Bridge Capital PartnersUndated
CBRE Capital MarketsUndated
H and H HomesUndated
Martell & AssociatesUndated
Sonoma Housing AdvisorsUndated
Washington State Housing Finance Corporation (WSHFC)8/16/2013 Northmarq Capital9/1/2013 Louisiana Community Reinvestment Coalition9/5/2013 PPM Finance9/9/2013 BRE Properties9/9/2013 McDougal Companies 9/12/2013 Southern Management9/19/2013 CWS Capital Partners9/19/2013 Paragus Group9/19/2013 Pollock Shores Real Estate Group9/20/2013 Pinnacle9/24/2013 Gables9/25/2013 Highridge Costa Investments9/25/2013 Wells Fargo Multifamily Capital (WFMC)
9/27/2013 Federal Home Loan Bank of New York9/30/2013 AGPM9/30/2013 Aukum Management10/8/2013 American Bankers Association et al.10/1/2013 hmi Property Solutions 10/1/2013 Waterton Associates10/1/2013 Westdale Real Estate Investment & Management10/2/2013 Legacy Partners10/3/2013 The CT Group10/4/2013 American Seniors Housing Association (ASHA) 10/4/2013 Amerisphere10/4/2013 Brightview Senior Living10/4/2013 DUS Peer Group10/4/2013 GID Investment Advisors10/4/2013 National Association of Home Builders (NAHB)10/7/2013 Berkadia10/7/2013 Brookdale Senior Living10/7/2013 Capital Senior Living10/7/2013 Centerline Capital Group10/7/2013 era living10/7/2013 John M. Corcoran and Company10/7/2013 Mercy Housing10/7/2013 Red Capital Group10/7/2013 Senior Star Living10/8/2013 Center for American Progress et al.10/8/2013 Citizen's Housing and Planning Association, Inc. (CHAPA)10/8/2013 Community Investment Corporation (CIC)10/8/2013 Community Preservation Corporation (CPC)10/8/2013 Enterprise Community Partners10/8/2013 Grandbridge Real Estate Capital10/8/2013 Greystone10/8/2013 Legend Senior Living10/8/2013 Milestone Group10/8/2013 Mortgage Bankers Association10/8/2013 National Assocation of Affordable Housing Lenders (NAAHL)10/8/2013 National Low Income Housing Coalition (NLIHC)10/8/2013 National Council of State Housing Agencies (NCSHA)10/8/2013 National Housing Conference (NHC)10/7/2013 National Multifamily Housing Council/National Apartment Association (NMHC/NAA)10/8/2013 New York City Housing Development Corporation (HDC)10/8/2013 Oak Grove Capital10/8/2013 PNC Real Estate10/8/2013 Prudential Mortgage Capital Company (PMCC) 10/8/2013 Representative Carolyn B. Maloney10/8/2013 Senator Charles E. Schumer10/16/2013 Walker and Dunlop11/1/2013 Representative Ed Perlmutter et al.
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