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
The Federal Housing Finance Agency (FHFA) is committed to careful fair lending oversight of the regulated entities. Fair lending is central to the principles under which the U.S. housing finance system operates and is a requirement of law. FHFA will never tolerate illegal discrimination by the regulated entities. In 2018, FHFA created the Office of Fair Lending Oversight (OFLO) to ensure that the regulated entities operate consistently with the public interest and with sufficient overall risk management by providing fair, equitable, and nondiscriminatory access to credit and housing. OFLO also works to advance equity through its Equitable Housing Finance Program and internal policy assessments.
We want to hear from you. Questions and feedback on FHFA’s fair lending program can be directed to FairLending@fhfa.gov.
FHFA is seeking comment on a proposed rule that would formalize many of the Agency’s existing practices and programs regarding fair housing and fair lending oversight of its regulated entities.
Specifically, the proposed rule would codify in regulation:
The rule would also expand requirements for the Enterprises in fair lending compliance and provide greater oversight and transparency regarding the Equitable Housing Finance Plans.
FHFA invites comments on the proposed rule within 60 days of its publication in the Federal Register. Comments on the proposed rule should be submitted electronically or via mail to the Federal Housing Finance Agency, Office of General Counsel, Attention: Comments/RIN-2590-AB29, 400 7th Street, S.W., Washington, D.C., 20219. Notice of Proposed Rulemaking
Memorandum of Understanding with the Department of Housing and Urban Development (HUD) (August 2021) – The MOU sets out a framework to enhance both Agencies' enforcement of the Fair Housing Act. The MOU is an important mechanism that strengthens the Agencies' ability to enforce fair housing and fair lending requirements, by promoting information sharing, coordination on investigations, compliance reviews, and the ongoing monitoring of the Enterprises.
Statement on Special Purpose Credit Programs as a Remedy for Disparities in Access to Homeownership (December 2021)
Interagency Statement on Special Purpose Credit Programs (February 2022)
FHFA's Language Access Policy
As conservator of the Enterprises, FHFA conducts both fair lending and equity assessments of Enterprise programs, initiatives, and policies.
OFLO provides technical assistance and policy-related oversight to the FHLBanks.
OFLO contributes to FHFA's Insights Blog by providing commentary on new developments impacting fair lending and information about FHFA's fair lending approach.
FHFA also announces policy updates and clarifications on the regulated entities' programs, products, and activities.
FHFA monitors fair lending data and risk presented by regulated entity activities. Our Fair Lending Data page presents information on single-family automated underwriting system applications and loans acquired by the Enterprises subset by race and ethnicity, as well as primary market lender aggregate approval rates subset by race and ethnicity. Information on our data methodology and definitions is located on the Data Notes section of the dashboard.
FHFA has also issued Orders on Fair Lending Reporting to the Enterprises. The orders require the Enterprises to submit quarterly reports to FHFA with fair lending information and data to improve the Agency's fair lending supervision and monitoring capabilities.
Fannie Mae and Freddie Mac published their Equitable Housing Finance Plans (EHFPs) for the 2022-2024 plan cycle in June 2022. The Enterprises will update these plans annually. The plans identify and address barriers to sustainable housing opportunities, including the Enterprises' goals and action plans to advance equity in housing finance for the next three years.
FHFA also requires the Enterprises to publish annual performance reports on the actions undertaken during the prior year to implement their plans.
In 2021, FHFA issued a Request for Input (RFI) that sought public input to aid the Enterprises in preparing their first plans and to aid FHFA in overseeing the plans. FHFA also hosted a public listening session to allow for additional public input. FHFA will continue to solicit public input annually.
Fannie Mae Equitable Housing Finance Plan 2022 - 2024 2023 Update 2022 Performance Report
Fannie Mae Equitable Housing Finance Plan
2022 - 2024
2023 Update
2022 Performance Report
Freddie Mac Equitable Housing Finance Plan 2022 - 2024 2023 Update 2022 Performance Report
Freddie Mac Equitable Housing Finance Plan
2022 - 2024
2023 Update
Date: 6/15/2023
Time: 1:00 PM EDT - 4:00 PM EDT
Location: Virtual
Video, Transcript, and Agenda
FHFA is hosting a public listening session to solicit interim feedback on Fannie Mae and Freddie Mac’s (the Enterprises) 2022-2024 Equitable Housing Finance Plans. In April 2023, the Enterprises released their annual update to the 3-Year plan, and in 2024, will release the final annual update and performance report for the 2022-2024 plan cycle. The updates build upon the inaugural plans first announced last year and make adjustments based on initial research and findings. The Equitable Housing Finance Plans are designed to complement the initiatives outlined in FHFA’s Strategic Plan: Fiscal Years 2022–2026 that promote the Enterprises’ safety and soundness and foster housing finance markets that provide equitable access to affordable and sustainable housing.
The purpose of the listening session is to give interested parties a public opportunity to provide feedback on the 2023 updates to the Plans and the 2022 performance reports and to provide input into the 2024 annual updates. Additionally, FHFA is soliciting feedback on the content and organization of the Enterprises’ Equitable Housing Finance Plan Performance Reports. Specifically, FHFA is soliciting feedback on the following topics:
Social impact investing can be defined as a subset of ESG investing, and is distinguished in that it seeks to create social value, rather than minimize adverse impacts. These “impact investments” provide explicit opportunities to fund activities intended to benefit a specific class of persons or the environment. An Enterprise labeled Social Bond should positively impact borrower sustainability, affordability, and/or equity. A cornerstone of any social bond program is the specific outcomes that the program is attempting to achieve.
FHFA is seeking public input and information through a Request for Input (RFI) on the Enterprises’ social bond policy and program design. FHFA is soliciting input to comprehensively understand the opportunities and potential risks associated with single-family social bond issuances by the Enterprises.
FHFA’s fair lending oversight program is committed to effective, appropriately tailored supervisory measures to ensure that the regulated entities adhere to applicable fair lending compliance standards. FHFA has broad statutory authority to supervise the regulated entities, including authority to monitor and gather information, conduct supervisory examinations, and enforce compliance with law where appropriate. FHFA as a supervisor monitors regulated entities for fair lending risk, conducts supervisory examinations, and, when necessary, takes enforcement action to ensure compliance with fair lending laws.
FHFA’s statute provides for a program to assess whether loan pricing by lenders results in disparities for minority borrowers compared with non-minority borrowers of similar creditworthiness. If FHFA makes a preliminary finding that a pattern of disparities exists for a lender, FHFA must refer that finding to the appropriate regulatory or enforcement agency for further review.
In 2021, FHFA finalized its policy approach and began referring its preliminary findings to regulatory or enforcement agencies with jurisdiction to conduct examinations or investigations into potential pricing discrimination.
James Wylie
Associate Director
Jonathan Liles
Principal Financial Analyst
Scott Susin
Senior Economist
Fair Lending Law, Supervision, and Enforcement Branch
Annalyce Shufelt
Branch Chief
Chandra Broadnax
Senior Examination Specialist
Lindsey Cope
Attorney Advisor
Sarah Friedman
Examination Specialist
Policy and Equity Branch
Leda DeRosa Bloomfield
Sidney Carter
Policy Analyst
Denise Lorenzen
Renita Roberts
Page last updated: August 29, 2023