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 2018 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...
Language Translation Disclosure
William M. Doerner, Senior Economist; Andrew Leventis, Principal Economist
Trends in residential house values can be expressed by changes in House Price Indexes (HPIs). HPIs are based on observed prices and help guide real estate activities. Since the recent housing crash, distressed sales have increased in numbers and have led to concerns about their effects on market valuations. This paper explores the extent to which distressed sales can be identified in transactions data and how they affect HPIs.
A revised version of this paper has undergone external peer-review and is published in an academic journal. Citation: William M. Doerner, Andrew V. Leventis. 2015. "Distressed Sales and the FHFA House Price Index." Journal of Housing Research, 24(2), 127-146. http://aresjournals.org/doi/abs/10.5555/1052-7001.24.2.127
The results were discussed by a variety of sources like the Wall Street Journal blog, Appraisal Institute, HousingWire, Mortgage Bankers Association, Mortgage News Daily, and Mortgage Orb.
© 2019 Federal Housing Finance Agency