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U.S. House Price Index - September 202238142<p style="padding-top&#58;16px !important;">​House prices fell nationwide in July, down 0.6 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose <strong>13.9 percent</strong> from July 2021 to July 2022. The previously reported 0.1 percent price increase in June 2022 remained unchanged.</p><p style="font-style&#58;normal;">For the nine census divisions, seasonally adjusted monthly house price changes from June to July 2022 ranged from <strong>-1.6 percent</strong> in the Pacific division to <strong>+0.1 percent</strong> in the East North Central division. The 12-month changes were all positive, ranging from <strong>+10.0 percent</strong> in the Pacific division to <strong>+18.9 percent</strong> in the South Atlantic division.</p><p style="font-style&#58;normal;padding-bottom&#58;32px !important;padding-top&#58;16px !important;"> <a href="/Media/PublicAffairs/Pages/FHFA-HPI-Down-0pt6-Percent-in-July-Up-13pt9-Percent-from-Last-Year.aspx">Related News Release</a>​​​​<br></p>9/27/2022 1:00:29 PMHome / About FHFA / Reports / U.S. House Price Index - September 2022 House Price Index 976https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - 2Q 202237826<p><span style="background-color&#58;#ffffff;color&#58;#404040;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;">U.S. house prices rose 17.7 percent from the second quarter of 2021 to the second quarter of 2022 according to the Federal Housing Finance Agency House Price Index (FHFA HPI®).&#160;House prices were up 4.0 percent compared to the first quarter of 2022.&#160; FHFA’s seasonally adjusted monthly index for June was up 0.1 percent from May.</span></p><p style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;22px;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;padding&#58;0px;color&#58;#404040;background-color&#58;#ffffff;">Tables and graphs showing home price statistics for metropolitan areas, states, census divisions, and the U.S. are included&#160; in the attachment.&#160;<br></p><p><a href="/Media/PublicAffairs/Pages/US-House-Prices-Rise-17pt7-Percent-over-the-Last-Year.aspx">Related News Release</a>​<br></p>8/30/2022 1:29:20 PMHome / About FHFA / Reports / U.S. House Price Index Report - 2Q 2022 House Price Index 3217https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
2022 Dodd-Frank Act Stress Test Results - Severely Adverse Scenario37706<h2>Overview</h2> ​<p>​Fannie Mae and Freddie Mac (the “Enterprises”) are required to conduct annual stress tests pursuant to Federal Housing Finance Agency (FHFA) rule 12 CFR § 1238, which implements section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). Section 165(i)(2) of the Dodd-Frank Act, as amended by section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (“EGRRCPA”) requires certain financial companies with total consolidated assets of more than $250 billion, that are regulated by a primary federal financial regulatory agency, to conduct periodic stress tests to determine whether the companies have the capital necessary to absorb losses as a result of severely adverse economic conditions. These changes became effective on March 24, 2020. This is the ninth implementation of the Dodd-Frank Act Stress Tests (DFAST) for the Enterprises.</p><p>In September 2008, FHFA suspended capital requirements after placing Fannie Mae and Freddie Mac into conservatorships. The Senior Preferred Stock Purchase Agreements that were established between the Department of the Treasury (“Treasury”) and each Enterprise limited the amount of capital that each Enterprise could hold to a Capital Reserve Amount of $3.0 billion. However, on September 27, 2019, FHFA, acting in its capacity as the conservator of the Enterprises, and Treasury entered into a letter agreement modifying the dividend and liquidation preference provisions of the senior preferred stock held by Treasury. Effective with the third quarter 2019 dividend period, the Enterprises were not required to pay further dividends to Treasury until they accumulated over $25 billion in net worth at Fannie Mae and $20 billion in net worth at Freddie Mae. Subsequently, on January 14, 2021, FHFA and Treasury announced amendments to the Senior Preferred Stock Purchase Agreements. The amendments allow the Enterprises to continue to retain earnings until they satisfy the requirements of the 2020 Enterprise Regulatory Capital Framework.</p><p>Notwithstanding the capital limits stipulated in the Senior Preferred Stock Purchase Agreements, FHFA requires the Enterprises to conduct DFAST annually in order to provide insight into risk exposure and potential sources of losses in the prescribed conditions. This report provides updated information on possible ranges of future financial results of the Enterprises under severely adverse conditions. The severely adverse conditions assumed are identical for both Enterprises.</p><p>The projections reported here are not expected outcomes. They are modeled projections in response to “what if” exercises based on assumptions about an Enterprise’s operations, its loan performance, macroeconomic and financial market conditions, and house prices. The projections do not define the full range of possible outcomes. Actual outcomes may be different.</p><p>The 2022 DFAST Severely Adverse scenario is described below. The Enterprises used their respective internal models to project their financial results based on the assumptions provided by FHFA. While this results in a degree of comparability between the Enterprises, it does not eliminate differences in the Enterprises’ respective internal models, accounting differences, or management actions.​<br></p><p>​​<a href="/Media/PublicAffairs/Pages/FHFA-Announces-Results-of-Fannie-and-Freddie-Dodd-Frank-Act-Stress-Tests-2022.aspx">Related News Release</a>​<br></p>8/11/2022 2:30:45 PMHome / About FHFA / Reports / 2022 Dodd-Frank Act Stress Test Results - Severely Adverse Scenario Stress 1388https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and Federal Property Manager's Report - May 202237708<h2 style="padding-bottom&#58;10px !important;padding-top&#58;8px !important;">May 2022&#160;Highlights - Foreclosure Prevention<br></h2><p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;">The Enterprises' Foreclosure Prevention Actions&#58;​<br></p><ul><li style="line-height&#58;1.3 !important;padding-top&#58;4px !important;margin-top&#58;4px !important;">​The Enterprises completed 30,990 foreclosure prevention actions in May, bringing the total to 6,562,142 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications.</li><li style="line-height&#58;1.3 !important;">There were 12,830 permanent loan modifications in May, bringing the total to 2,572,110 since the conservatorships began in September 2008.</li><li style="line-height&#58;1.3 !important;">Approximately 75 percent of loan modifications in May include reduce rate and extend-term. Modifications with principal forbearance accounted for 7.0 percent of all loan modifications during the month.</li><li style="line-height&#58;1.3 !important;">The number of borrowers who received payment deferrals after completing a COVID-19 related forbearance plan decreased 21 percent from 16,047 in April to 12,645 in May.</li><li style="line-height&#58;1.3 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">​Initiated forbearance plans increased slightly from 13,247 in April to 13,397 in May. The total number of loans in forbearance decreased from 110,535 at the end of April to 99,451 at the end of May, representing approximately 0.32 percent of the total loans serviced, and 19 percent of the total delinquent loans.</li></ul> ​ <p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;margin-top&#58;0px !important;"> The Enterprises' Mortgage Performance&#58;&#160;</p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">The 30-59 days delinquency rate increased slightly to 0.75 percent while the serious delinquency rate declined to 0.84 percent at the end of May.<br></li></ul></div><p style="padding-top&#58;8px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;"> The Enterprises' Foreclosures&#58;​<br></p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">​Third-party and foreclosure sales decreased to 1,066 while foreclosure starts increased to 6,665 in May.</li></ul></div><h2 style="padding-top&#58;24px !important;padding-bottom&#58;8px !important;">May 2022 Highlights - Refinance Activities</h2><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;">Total refinance volume decreased in May 2022 amid rising mortgage rates through April. Mortgage rates rose in May&#58; the average interest rate on a 30-year fixed rate mortgage increased to 5.23 percent from an April level of 4.98 percent, reaching levels last observed in 2008.</li><li style="line-height&#58;1.3 !important;">​The percentage of borrowers refinancing into shorter term 15-year fixed rate mortgages decreased to 20 percent in May as the difference between 15- and 30-year fixed rate mortgages remained in the three quarters of a percent range in recent months through May. The sharp rise in mortgage rates since December has acted as an additional disincentive against the higher monthly cost of a 15-year fixed rate mortgage versus a 30-year fixed rate mortgage.<br></li></ul></div>​<br><br><br>​<br>8/11/2022 4:09:21 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and Federal Property Manager's Report - May 2022 The Enterprises completed 30,990 foreclosure prevention actions 1022https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index - July 202237884<p>​​​​​House prices rose nationwide in May, up 1.4 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®).&#160; House prices rose <strong>18.3 percent</strong> from May 2021 to May 2022.&#160; The previously reported 1.6 percent price change for April 2022 was revised downward to 1.5 percent.<br></p><p style="font-style&#58;normal;">For the nine census divisions, seasonally adjusted monthly house price changes from April 2022 to May 2022 ranged from <strong>+0.2 percent</strong> in the Pacific division to <strong>+2.0 percent </strong>in the New England division.&#160; The 12-month changes were all positive, ranging from <strong>+13.9 percent</strong> in the Middle Atlantic division to <strong>+23.8 percent</strong> in the South Atlantic division.<br></p><p style="font-style&#58;normal;padding-bottom&#58;32px !important;padding-top&#58;16px !important;"> <a href="/Media/PublicAffairs/Pages/FHFA-HPI-Up-1pt4-Percent-in-May-Up-18pt3-Percent-from-Last-Year.aspx">Related News Release</a>​<br></p>7/26/2022 2:50:01 PMHome / About FHFA / Reports / U.S. House Price Index - July 2022 House Price Index 4356https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention Refinance and FPM Report April 202237735<h2 style="padding-bottom&#58;10px !important;padding-top&#58;8px !important;">​​​​​​​​April 2022&#160;Highlights - Foreclosure Prevention<br></h2><p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;">The Enterprises' Foreclosure Prevention Actions&#58;​<br></p><ul><li style="line-height&#58;1.3 !important;padding-top&#58;4px !important;margin-top&#58;4px !important;">​The Enterprises completed 37,095 foreclosure prevention actions in April, bringing the total to 6,531,152 since the start of the conservatorships in September 2008. Approximately 39 percent of these actions have been permanent loan modifications.</li><li style="line-height&#58;1.3 !important;">There were 14,528 permanent loan modifications in April, bringing the total to 2,559,280 since the conservatorships began in September 2008.</li><li style="line-height&#58;1.3 !important;">Seven percent of modifications in April were modifications with principal forbearance. Modifications that include reduce rate and extend-term accounted for 76 percent of all loan modifications during the month.</li><li style="line-height&#58;1.3 !important;">The number of borrowers who received payment deferrals after completing a COVID-19 related forbearance plan increased slightly from 15,970 in March to 16,047 in April.</li><li style="line-height&#58;1.3 !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;">​Initiated forbearance plans decreased 23 percent from 17,101 in March to 13,247 in April. The total number of loans in forbearance decreased from 126,758 at the end of March to 110,535 at the end of April, representing approximately 0.36 percent of the total loans serviced, and 20 percent of the total delinquent loans.</li></ul> ​ <p style="padding-top&#58;0px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;margin-top&#58;0px !important;"> The Enterprises' Mortgage Performance&#58;&#160;</p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">The 30-59 days delinquency rate increased to 0.74 percent while the serious delinquency rate declined to 0.90 percent at the end of April.<br></li></ul></div><p style="padding-top&#58;8px !important;padding-bottom&#58;0px !important;margin-bottom&#58;0px !important;font-weight&#58;600 !important;"> The Enterprises' Foreclosures&#58;​<br></p><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;margin-top&#58;4px !important;">​Third-party and foreclosure sales increased slightly to 1,136 while foreclosure starts decreased to 6,467 in April.</li></ul></div><h2 style="padding-top&#58;24px !important;padding-bottom&#58;8px !important;">April&#160;2022 Highlights - Refinance Activities</h2><div style="padding-top&#58;0px;"><ul><li style="line-height&#58;1.3 !important;">Total refinance volume decreased in April 2022 amid rising mortgage rates through March. Mortgage rates rose in April&#58; the average interest rate on a 30-year fixed rate mortgage increased to 4.98 percent from a March level of 4.17 percent, reaching levels last observed in 2010.</li><li style="line-height&#58;1.3 !important;">​The percentage of borrowers refinancing into shorter term 15-year fixed rate mortgages decreased to 22 percent in April as the difference between 15- and 30-year fixed rate mortgages remained in the three quarters of a percent range in recent months through March. In April, the difference between 15- and 30-year fixed rate mortgages decreased to 76 basis p​oints.<br></li></ul></div>​<br><br><br>​<br>7/14/2022 5:00:35 PMHome / About FHFA / Reports / Foreclosure Prevention Refinance and FPM Report April 2022 Foreclosure 842https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index - June 202237634<p><span style="font-style&#58;normal;">​House prices rose nationwide in April, up 1.6 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®).&#160;House prices rose&#160;</span><span style="font-family&#58;inherit;font-size&#58;inherit;font-style&#58;normal;font-weight&#58;700 !important;">18.8 percent</span><span style="font-style&#58;normal;">&#160;</span><span style="font-style&#58;normal;">from April 2021 to April 2022.&#160;The previously reported 1.5 percent price change for March 2022 was revised upward to 1.6 percent.</span><br></p><p style="font-style&#58;normal;">For the nine census divisions, seasonally adjusted monthly house price changes from March 2022 to April 2022 ranged from&#160;<span style="font-size&#58;inherit;font-family&#58;inherit;font-weight&#58;700 !important;">+0.3 percent</span>&#160;in the East South Central division to<span style="font-size&#58;inherit;font-family&#58;inherit;font-weight&#58;700 !important;">&#160;+2.5 percent&#160;</span>in the West South Central division.&#160;The 12-month changes were all positive, ranging from&#160;<span style="font-size&#58;inherit;font-family&#58;inherit;font-weight&#58;700 !important;">+14.1 percent</span>&#160;in the Middle Atlantic division to&#160;<span style="font-size&#58;inherit;font-family&#58;inherit;font-weight&#58;700 !important;">+23.5 percent</span>&#160;in the South Atlantic division.<br></p><p style="font-style&#58;normal;"><a href="/Media/PublicAffairs/Pages/FHFA-HPI-Up-1pt6-Percent-in-April-Up-18pt8-Percent-from-Last-Year.aspx">Related News Release</a>​<br></p>6/28/2022 1:00:51 PMHome / About FHFA / Reports / U.S. House Price Index - June 2022 House Price Index 2695https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Annual Report to Congress - 202137505<div><p>The Federal Housing Finance Agency’s (FHFA’s) <strong><em><a href="/AboutUs/Reports/ReportDocuments/FHFA-2021-Annual-Report-to-Congress.pdf">2021&#160;Report to Congress</a>​</em></strong> covers&#160;the activities of FHFA and its regulated entities in 2021.&#160;<span lang="EN-US" data-contrast="auto">The statutorily-required report provides information about the Agency’s 2021 examinations of Fannie Mae, Freddie Mac (the Enterprises), the 11 Federal Home Loan Banks (FHLBanks), and the FHLBanks’ Joint Office of Finance. It also describes FHFA’s actions as conservator of Fannie Mae and Freddie Mac and provides an overview of FHFA’s regulatory activities, research, and publications issued during the year.</span><span data-ccp-props="&#123;&quot;335559737&quot;&#58;288&#125;">&#160;T</span>his report meets all such requirements applicable as of December 31, 2021.</p><p><a href="/Media/PublicAffairs/Pages/FHFA-Issues-2021-Report-to-Congress.aspx">Related News Release</a>​<br></p></div><p>&#160;</p>6/15/2022 3:00:25 PMHome / About FHFA / Reports / Annual Report to Congress - 2021 Annual Report to Congress 3125https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
2021 Mission Report: Affordable Housing Activities of the Regulated Entities37397<p>​​​​​The Federal Housing Finance Agency (FHFA), as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises), and as regulator of the ​Federal Home Loan Banks (FHLBanks), is responsible for their effective supervision, regulation, and mission oversight. This inaugural report provides an overview of the full range of mission activities carried out by FHFA's regulated entities over a calendar year.</p><p>The Enterprises and the FHLBanks are federally chartered government-sponsored enterprises that support the housing finance market while fulfilling their responsibilities to support affordable housing throughout the nation, particularly in underserved communities. The FHLBanks also have targeted economic development support obligations.<br></p><p>Each regulated entity operates its own mission programs, under the guidance and oversight of FHFA. These activities range from purchase targets for mortgages obtained by borrowers below a certain threshold of an Area Median Income (AMI), to a dedicated focus on rural communities, manufactured housing, and affordable housing preservation under the Duty to Serve (DTS) program, to the FHLBank members targeted economic development lending by their member institutions, and more. Together, these activities support greater access to financing for affordable, equitable, and sustainable housing in a safe and sound manner. <br></p><p>FHFA supervises the following mission programs and initiatives&#58;<br></p><div style="padding-left&#58;60px !important;"><table border="1" style="padding-left&#58;20px !important;border-collapse&#58;collapse !important;"><tbody><tr><th style="text-align&#58;left;padding&#58;5px !important;font-weight&#58;700 !important;border-right&#58;1px solid currentcolor !important;border-bottom&#58;1px solid currentcolor !important;">Enterprises </th><th style="text-align&#58;left;padding&#58;5px !important;font-weight&#58;700 !important;border-bottom&#58;1px solid currentcolor !important;">​Federal Home Loan Banks</th></tr><tr><td style="text-align&#58;left;padding&#58;5px !important;border-right&#58;1px solid currentcolor !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ffffff !important;">Housing Goals</td><td style="text-align&#58;left;padding&#58;5px !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ffffff !important;">​Affordable Housing Program (AHP)</td></tr><tr><td style="text-align&#58;left;padding&#58;5px !important;border-right&#58;1px solid currentcolor !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ddebf7 !important;">Duty to Serve </td><td style="text-align&#58;left;padding&#58;5px !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ddebf7 !important;">Community Investment Program (CIP), Housing </td></tr><tr><td style="text-align&#58;left;padding&#58;5px !important;border-right&#58;1px solid currentcolor !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ffffff !important;">Fair Lending* </td><td style="text-align&#58;left;padding&#58;5px !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ffffff !important;">Community Investment Cash Advance (CICA) Program </td></tr><tr><td style="text-align&#58;left;padding&#58;5px !important;border-right&#58;1px solid currentcolor !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ddebf7 !important;">​Conservatorship Scorecard</td><td style="text-align&#58;left;padding&#58;5px !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ddebf7 !important;">Housing Goals</td></tr></tbody></table> ​ </div>​ ​ <p style="line-height&#58;16px !important;font-size&#58;12px !important;">* Note&#58; ​FHFA conducts Fair Lending supervision and oversight for the Enterprises and FHLBanks. The Fair Lending section presented in this report focuses on Enterprise loan applications and acquisitions.</p> ​<br>6/6/2022 6:00:11 PMHome / About FHFA / Reports / 2021 Mission Report: Affordable Housing Activities of the Regulated Entities The Federal Housing Finance Agency (FHFA), as regulator and 1282https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - 2022 Q137310<p>​​​U.S. house prices rose <strong>18.7 percent </strong>from the first quarter of 2021 to the first quarter of 2022 according to the Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices were up <strong>4.6&#160;percent </strong>compared to the fourth quarter of 2021. FHFA’s seasonally adjusted monthly index for March was up <strong>1.5 percent </strong>from February. <br></p><p> &quot;<span style="font-family&#58;georgia, serif;font-size&#58;11pt;">High appreciation rates continued across housing markets during the first quarter of 2022,</span>&quot; said William Doerner, Ph.D., Supervisory Economist in FHFA’s Division of Research and Statistics. &quot;<span style="font-family&#58;georgia, serif;font-size&#58;11pt;">Strong demand coupled with tight supply have kept prices climbing.&#160; Through the end of March, higher</span><span style="font-family&#58;georgia, serif;font-size&#58;11pt;"> mortgage rates have not yet translated into slower price gains, but new home sales have dropped during the last few months, with a significant falloff in April.</span>​&quot; </p><p> <a href="/Media/PublicAffairs/Pages/US-House-Prices-Rise-18pt7-Percent-over-the-Last-Year-Up-4pt6-Percent-from-the-Fourth-Quarter.aspx">Related News Release</a><br></p>5/31/2022 1:00:48 PMHome / About FHFA / Reports / U.S. House Price Index Report - 2022 Q1 House Price Index 7045https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

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