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...
Lawrence Costa (FHFA); JJ Naddeo (Georgetown University)
Are students willing to endure long commutes for access to good schools? Using New York City Department of Education administrative data matched with Google transit directions, we find that longer commutes from home markedly deter students from applying to even the most elite high schools. For the top public school in New York State, a student with a 20 minute commute is 74% more likely to apply than one who lives 40 minutes away. For two other schools above the 99th percentile of performance, the differences are 234% and 137%. We also find that eighth grade exam scores relate to how well students understand the admissions process. As far as we are aware, we are the first to have the required location precision to track specific commutes for individual high school students. From a policy perspective, our findings imply that – while expanded school choice may be desirable – housing access near good schools is quite important.
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