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Prepayment Monitoring Report - Fourth Quarter 201930403<p>On June 3, 2019, Fannie Mae and Freddie Mac began issuing a new common mortgage-backed security, known as the Uniform Mortgage-Backed Securities or UMBS, through their jointly developed Common Securitization Platform, bringing to fruition important elements of FHFA's <a href="/AboutUs/Reports/Pages/2014-Conservatorships-Strategic-Plan.aspx">2014 Strategic Plan for the Conservatorships of</a>&#160;<a href="/AboutUs/Reports/Pages/2014-Conservatorships-Strategic-Plan.aspx">Fannie Mae and Freddie Mac</a>.&#160; On March 12, 2019 forward trading of UMBS began in the “To-Be-Announced&quot; (TBA) market <a href="#footNote1">[1]</a>, with first settlements of the UMBS trades coinciding with their initial issuance by the Enterprises on June 3, 2019.</p><p>FHFA encouraged Fannie Mae and Freddie Mac to develop this new security to broaden and enhance liquidity in the secondary market for residential mortgages and to reduce costs to taxpayers.<a href="#footNote2">[2]</a>&#160; To address those goals, UMBS issued by Fannie Mae and Freddie Mac trade in the TBA market without regard to which Enterprise is the issuer, effectively merging the formerly separate markets for mortgage-backed securities issued by each Enterprise. </p><p>Consistency of prepayment rates is important to the success of UMBS and to the efficiency and liquidity of the secondary mortgage market.&#160; Some industry stakeholders have expressed concern that the rates of prepayment of the Enterprises' securities might materially diverge and undermine their fungibility.&#160; FHFA has taken a number of steps to promote the continued consistency of prepayment rates of Fannie Mae- and Freddie Mac-issued mortgage-backed securities (MBS).&#160; This quarterly report provides market participants additional transparency into a sample of the data FHFA receives and reviews on a monthly basis.</p><p>Ex post monitoring of prepayment rates is part of a broader effort to assure investors that cash flows from UMBS will be similar regardless of which Enterprise is the issuer.&#160; This report provides insight into how FHFA monitors the consistency of prepayment rates across cohorts of the Enterprises' TBA-eligible MBS,<a href="#footNote3">[3]</a> where a cohort consists of those Enterprise TBA-eligible securities with the same coupon, maturity, and loan-origination year and total combined issuance across the Enterprises exceeds $10 billion.&#160; A prepayment on a mortgage loan is the amount of principal paid in advance of the loan's scheduled payments. &#160;Full prepayment occurs when a borrower pays off the loan ahead of the scheduled maturity.&#160; If a borrower defaults on the mortgage loan, the Enterprise will pay investors the remaining principal balance and remove the loan from the MBS.&#160; That action has the same effect on investors as a full prepayment. &#160;Partial prepayment occurs when a borrower pays principal in addition to the regularly scheduled payment of principal and interest. <br></p><p> <a name="footNote1">[1]</a> The TBA market is a forward market for certain mortgage-backed securities, including those issued by Fannie Mae and Freddie Mac.</p><p> <a name="footNote2">[2]</a> See <a href="/AboutUs/Reports/ReportDocuments/Single%20Security%20Update%20final.pdf"><span style="text-decoration&#58;underline;"><em>An Update on the Structure of the Single Security</em></span></a>, May 2015, p. 4</p><p> <a name="footNote3">[3]</a> To avoid double counting, only first-level securitizations are included in the analysis. Second-level securitizations (Megas, Giants, and Supers) are excluded, with the exception of fastest quartile analyses in which case multi-lender second-level securitizations are included.&#160;&#160;&#160;</p>2/14/2020 6:48:51 PMHome / About FHFA / Reports / Prepayment Monitoring Report - Fourth Quarter 2019 Prepayment Monitoring 592https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index Report - November 201930261<p>U.S. house prices rose in November, up <strong>0.2 percent</strong><em> </em>from the previous month, according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). &#160;House prices rose <strong>4.9 percent</strong> from November 2018 to November 2019.&#160; The previously reported 0.2 percent increase for October 2019 was revised upward to 0.4 percent.</p><p>For the nine census divisions, seasonally adjusted monthly house price changes from October 2019 to November 2019 ranged from<strong> -0.1 percent</strong> in the Mountain division to <strong>+0.8 percent</strong> in the East North Central division.&#160; The 12-month changes were all positive, ranging from <strong>+3.8 percent </strong>in the New England and the West South Central divisions to <strong>+6.3 percent</strong> in the Mountain division.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs in the attachment.</p><p><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0-2-Percent-in-November-2019.aspx">Related News Release&#160;</a></p>1/22/2020 2:00:14 PMHome / About FHFA / Reports / U.S. House Price Index Report - November 2019 House Price Index 2351https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA House Price Index - October 201930184<p>The FHFA House Price Index (HPI) reported a 0.2&#160;percent increase in U.S. house prices in October from previous&#160;month.&#160; From October 2018 to October 2019, house prices were up 5.0&#160;percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from September 2019 to October&#160;2019 ranged from -0.5 percent in the East North Central&#160;division to +0.7&#160;percent in the West South Central and East South Central divisions.&#160; The 12-month changes were all positive, ranging from +3.5&#160;percent in the New England division to +6.7&#160;percent in the Mountain division.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the tables and graphs in the attachment.&#160;</p><p><a href="/Media/PublicAffairs/Pages/FHFA-HPI-Up-0pt2-Pct-in-Oct-Up-5-Pct-from-Last-Yr.aspx">Related News Release</a></p>12/31/2019 2:01:10 PMHome / About FHFA / Reports / FHFA House Price Index - October 2019 House Price Index 2611https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Prepayment Monitoring Report - Third Quarter 201927458<p>On June 3, 2019, Fannie Mae and Freddie Mac began issuing a new common mortgage-backed security, known as the Uniform Mortgage-Backed Securities or UMBS, through their jointly developed Common Securitization Platform, bringing to fruition important elements of FHFA's <a href="/AboutUs/Reports/Pages/2014-Conservatorships-Strategic-Plan.aspx">2014 Strategic Plan for the Conservatorships of</a>&#160;<a href="/AboutUs/Reports/Pages/2014-Conservatorships-Strategic-Plan.aspx">Fannie Mae and Freddie Mac</a>.&#160; On March 12, 2019 forward trading of UMBS began in the “To-Be-Announced&quot; (TBA) market <a href="#footNote1">[1]</a>, with first settlements of the UMBS trades coinciding with their initial issuance by the Enterprises on June 3, 2019.</p> <p>FHFA encouraged Fannie Mae and Freddie Mac to develop this new security to broaden and enhance liquidity in the secondary market for residential mortgages and to reduce costs to taxpayers.<a href="#footNote2">[2]</a>&#160; To address those goals, UMBS issued by Fannie Mae and Freddie Mac trade in the TBA market without regard to which Enterprise is the issuer, effectively merging the formerly separate markets for mortgage-backed securities issued by each Enterprise. </p><p>Consistency of prepayment rates is important to the success of UMBS and to the efficiency and liquidity of the secondary mortgage market.&#160; Some industry stakeholders have expressed concern that the rates of prepayment of the Enterprises' securities might materially diverge and undermine their fungibility.&#160; FHFA has taken a number of steps to promote the continued consistency of prepayment rates of Fannie Mae- and Freddie Mac-issued mortgage-backed securities (MBS).&#160; This quarterly report provides market participants additional transparency into a sample of the data FHFA receives and reviews on a monthly basis.</p><p>Ex post monitoring of prepayment rates is part of a broader effort to assure investors that cash flows from UMBS will be similar regardless of which Enterprise is the issuer.&#160; This report provides insight into how FHFA monitors the consistency of prepayment rates across cohorts of the Enterprises' TBA-eligible MBS,<a href="#footNote3">[3]</a> where a cohort consists of those Enterprise TBA-eligible securities with the same coupon, maturity, and loan-origination year and total combined issuance across the Enterprises exceeds $10 billion.&#160; A prepayment on a mortgage loan is the amount of principal paid in advance of the loan's scheduled payments. &#160;Full prepayment occurs when a borrower pays off the loan ahead of the scheduled maturity.&#160; If a borrower defaults on the mortgage loan, the Enterprise will pay investors the remaining principal balance and remove the loan from the MBS.&#160; That action has the same effect on investors as a full prepayment. &#160;Partial prepayment occurs when a borrower pays principal in addition to the regularly scheduled payment of principal and interest. <br></p><p> <a name="footNote1">[1]</a> The TBA market is a forward market for certain mortgage-backed securities, including those issued by Fannie Mae and Freddie Mac.</p><p> <a name="footNote2">[2]</a> See <a href="/AboutUs/Reports/ReportDocuments/Single%20Security%20Update%20final.pdf"> <span style="text-decoration&#58;underline;"> <em>An Update on the Structure of the Single Security</em></span></a>, May 2015, p. 4</p><p> <a name="footNote3">[3]</a> To avoid double counting, only first-level securitizations are included in the analysis. Second-level securitizations (Megas, Giants, and Supers) are excluded, with the exception of fastest quartile analyses in which case multi-lender second-level securitizations are included.&#160;&#160;&#160;<br>&#160;</p>12/9/2019 4:00:25 PMHome / About FHFA / Reports / Prepayment Monitoring Report - Third Quarter 2019 Prepayment Monitoring 975https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
U.S. House Price Index - 3Q 201930000<p>U.S. house prices rose in the third quarter of 2019, up <strong>1.1 percent</strong> according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI).&#160; House prices rose <strong>4.9 percent </strong>from the third quarter of 2018 to the third quarter of 2019.&#160; FHFA's seasonally adjusted monthly index for September was up <strong>0.6 percent</strong> from August.</p><p> <strong>Significant Findings​</strong></p><ul><li><p>House prices have risen for 33 consecutive quarters across the United States.</p></li><li><p>House prices rose in all 50 states and the District of Columbia between the third quarters of 2018 and 2019.&#160; The top five states in annual appreciation were&#58; 1) <strong>Idaho </strong>11.6 percent; 2) <strong>Maine </strong>7.9 percent; 3) <strong>Arizona </strong>7.9 percent; 4) <strong>Utah </strong>7.8 percent; and 5) <strong>Indiana </strong>7.4 percent. &#160;The states showing the smallest annual appreciation were&#58; &#160;1) <strong>Illinois </strong>1.9 percent; 2) <strong>Connecticut </strong>2.2 percent; 3) <strong>Maryland </strong>2.4 percent; 4)<strong> South Dakota</strong> 2.7 percent; and 5) <strong>Iowa </strong>3.2 percent.</p></li><li><p>House prices rose in all 100 of the largest metropolitan areas in the U.S. over the last four quarters. &#160;Annual price increases were greatest in <strong>Boise City, ID,</strong> where prices increased by 11.1 percent.&#160; Prices were weakest in <strong>Camden, NJ (MSAD),</strong> where they increased 0.7 percent.</p></li><li><p>Of the nine census divisions, the <strong>Mountain </strong>division experienced the strongest four-quarter appreciation, posting a 6.9 percent gain between the third quarters of 2018 and 2019 and a 1.8 percent increase in the third quarter of 2019. &#160;Annual house price appreciation was weakest in the <strong>Middle Atlantic</strong> division, where prices rose by 4.0 percent between the third quarters of 2018 and 2019.</p></li><li><p>FHFA produced Fact Sheets that include graphics on the Top 20 and Bottom 20 ranked Metropolitan Statistical Areas in the U.S. here&#58; <a href="/HPI-Fact-Sheets">https&#58;//www.fhfa.gov/HPI-Fact-Sheets</a>.</p></li></ul><p> <a href="/Media/PublicAffairs/Pages/US-House-Prices-Rise-1pt1-Percent-in-Third-Quarter-Up-4pt9-Percent-from-Last-Year.aspx">Related News Release</a></p><p> <a href="/DataTools/Tools/Pages/Four-Quarter-Heat-Map.aspx">Link to interactive map</a></p><p> <a href="/DataTools/Downloads/Pages/House-Price-Index.aspx">More information about FHFA HPI<br> </a></p>11/26/2019 2:00:59 PMHome / About FHFA / Reports / U.S. House Price Index - 3Q 2019 House Price Index 22714https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Credit Risk Transfer Progress Report 2Q201925748<p style="font-style&#58;normal;">​The Report provides a comprehensive picture of how Fannie Mae and Freddie Mac (the Enterprises) transfer a substantial portion of credit risk to the private sector through a variety of transactions in both the single-family and multifamily markets.&#160;<br></p><font color="#000000" face="Times New Roman" size="3"></font><font color="#000000" face="Times New Roman" size="3"></font><font color="#000000" face="Times New Roman" size="3"></font><font color="#000000" face="Times New Roman" size="3"></font><p style="font-style&#58;normal;">From the beginning of the Enterprises' Single-Family CRT programs in 2013 through the second quarter&#160;of 2019,&#160;Fannie Mae and Freddie Mac&#160;have transferred a portion of credit risk on $3.1&#160;trillion of unpaid principal balance (UPB), with a combined Risk in Force (RIF) of about $102&#160;billion, or 3.3 percent of UPB. An additional $1.4&#160;trillion of UPB and $346&#160;billion of RIF has been transferred to primary mortgage insurers from 2013 through the second quarter&#160;of 2019.&#160;Through CRT and mortgage insurance, the majority of the underlying mortgage credit risk on mortgages targeted for CRT has been transferred to private investors.<br></p><p><a href="/Media/PublicAffairs/Pages/FHFA-Updates-Progress-on-FNM-and-FRE-Transfer-Programs-111219.aspx">Related News Release</a>​<br></p>11/12/2019 6:00:47 PMHome / About FHFA / Reports / Credit Risk Transfer Progress Report 2Q2019 Credit Risk Transfer Progress 653https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance and FPM Report - August 201932842<h3 style="margin&#58;0px;font-weight&#58;900;font-family&#58;lato, sans-serif;color&#58;#404040;font-size&#58;20px;border&#58;0px;font-stretch&#58;inherit;vertical-align&#58;baseline;padding&#58;0px;background-color&#58;#ffffff;">​August 2019&#160;Highlights -- Foreclosure Prevention&#160;<br></h3><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;background-color&#58;#ffffff;color&#58;#404040 !important;"><span style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;font-weight&#58;700 !important;">The Enterprises' Foreclosure Prevention Actions&#58;</span></p><ul style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px;list-style-position&#58;initial;list-style-image&#58;initial;background-color&#58;#ffffff;"><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">The Enterprises completed 8,464&#160;foreclosure prevention actions in August, bringing the total to 4,372,944&#160;since the start of the conservatorships in September 2008.&#160;Over half of these actions have been permanent loan modifications.</div></li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">There were 5,721&#160;permanent loan modifications in August, bringing the total to 2,368,691&#160;since the conservatorships began in September 2008.</div></li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">Twenty-nine&#160;percent of modifications in August were modifications with principal forbearance. Modifications with extend-term only accounted for 65&#160;percent of all loan modifications during the month.</div></li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">There were 432 short sales and deeds-in-lieu of foreclosure completed in August, down 4&#160;percent compared with July.</div></li></ul><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;background-color&#58;#ffffff;color&#58;#404040 !important;"><span style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;font-weight&#58;700 !important;">The Enterprises' Mortgage Performance&#58;</span></p><ul style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px;list-style-position&#58;initial;list-style-image&#58;initial;background-color&#58;#ffffff;"><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;">The serious delinquency rate remaiined unchaged at 0.65&#160;percent at the end of August&#160;from&#160;July.<br></li></ul><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;background-color&#58;#ffffff;color&#58;#404040 !important;"><span style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;font-size&#58;inherit;line-height&#58;inherit;font-family&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;font-weight&#58;700 !important;">The Enterprises' Foreclosures&#58;</span></p><ul style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px;list-style-position&#58;initial;list-style-image&#58;initial;background-color&#58;#ffffff;"><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;">Third-party and foreclosure sales decreased slightly&#160;from 3,328&#160;in July to 3,321&#160;in August.</li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;">Foreclosure starts decreased from 10,054&#160;in July to 8,941&#160;in August.<br></li></ul><h3 style="margin&#58;0px;font-weight&#58;900;font-family&#58;lato, sans-serif;color&#58;#404040;font-size&#58;20px;border&#58;0px;font-stretch&#58;inherit;vertical-align&#58;baseline;padding&#58;0px;background-color&#58;#ffffff;">​August 2019&#160;Highlights -- Refinance Activities&#160;<br></h3><ul style="border&#58;0px;font-stretch&#58;inherit;font-size&#58;14px;line-height&#58;inherit;font-family&#58;&quot;source sans pro&quot;, sans-serif;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px;list-style-position&#58;initial;list-style-image&#58;initial;background-color&#58;#ffffff;"><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">Total refinance volume increased in August 2019 as mortgage rates fell in previous months. Mortgage rates decreased in August&#58; the average interest rate on a 30-year fixed rate mortgage fell to 3.62 percent from 3.77 percent in July.<br></div></li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">The percentage of cashout refinances decreased as mortgage rates fell in previous months, creating more opportunities for non cashout borrowers to refinance at lower rates and lower their monthly payments.&#160;<br></div></li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">In August 2019, borrowers completed 2 refinances through HARP, bringing total refinances since the inception of the program to 3,495,410.<br></div></li><li style="border&#58;0px;font-style&#58;inherit;font-variant&#58;inherit;font-stretch&#58;inherit;line-height&#58;16px;vertical-align&#58;baseline;margin&#58;0px 0px 0px 20px;padding&#58;0px 0px 10px;"><div style="border&#58;0px;font&#58;inherit;vertical-align&#58;baseline;margin&#58;0px;padding&#58;0px;">Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.&#160;<br></div></li></ul>11/8/2019 4:01:02 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance and FPM Report - August 2019 Foreclosure 452https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
The 2019 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac27339<table class="ms-rteTable-0" cellspacing="0" style="width&#58;100%;"><tbody><tr class="ms-rteTableEvenRow-0"><td class="ms-rteTableEvenCol-0" style="width&#58;10%;"> <a href="/AboutUs/Reports/ReportDocuments/2014StrategicPlan05132014Final.pdf">​</a><img class="ms-rtePosition-1" alt="2019 Conservatorship Strategic Plan Report Cover" src="/AboutUs/Reports/PublishingImages/2019-Strategic-Plan-thumb.png" style="margin&#58;5px;width&#58;100px;height&#58;130px;box-shadow&#58;2px 2px 2px #808080;" /></td><td class="ms-rteTableOddCol-0" style="width&#58;50%;"><p>​Since January 6, 2014, FHFA has conducted an ongoing assessment of its obligations and statutory mandates in an effort to update the Strategic Plan released in 2012. FHFA’s 2019 Strategic Plan reflects this assessment and provides a new approach to the conservatorships of Fannie Mae and Freddie Mac. The 3 core objectives of the Strategic Plan are to ensure the Enterprises&#58;<br></p><ol><li><p>FOSTER competitive, liquid, efficient, and resilient (CLEAR) national housing finance markets that support sustainable homeownership and affordable rental housing;</p></li><li><p>OPERATE in a safe and sound manner appropriate for entities in conservatorships; and <br></p></li><li><p>PREPARE for their eventual exit from conservatorships.<br></p></li></ol></td></tr></tbody></table>10/28/2019 2:00:48 PMHome / About FHFA / Reports / The 2019 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac Since January 6, 2014, FHFA has conducted an ongoing assessment of 5135https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
House Price Index - August 201927313<div aria-labelledby="ctl00_PlaceHolderMain_ctl03_label" style="display&#58;inline;"><div class="custom-contentTypeContent"><p>​​The FHFA House Price Index (HPI) reported a 0.2&#160;percent increase in U.S. house prices in August from the previous month.&#160; From August 2018 to August&#160;2019, house prices were up 4.6&#160;percent.&#160; For the nine census divisions, seasonally adjusted monthly price changes from July 2019 to August&#160;2019 ranged from -0.8 percent in the East South Central&#160;division to +0.9&#160;percent in the New England&#160;division.&#160; The 12-month changes were all positive, ranging from +3.9&#160;percent in the Middle Atlantic and Pacific&#160;divisions to +6.5&#160;percent in the Mountain division.</p><p>Monthly index values and appreciation rate estimates for recent periods are provided in the tables and graphs in the attachment.&#160;</p><p><a href="/Media/PublicAffairs/Pages/FHFA-House-Price-Index-Up-0pt2-Percent-in-August-2019.aspx">Related News Release</a></p></div></div>10/23/2019 1:00:46 PMHome / About FHFA / Reports / House Price Index - August 2019 House Price Index 4284https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance and FPM Report - Second Quarter 201927451<h1>Second Quarter 2019&#160;Highlights - Foreclosure Prevention<br></h1><p><strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul><li>The Enterprises completed 31,757&#160;foreclosure prevention actions in the second quarter, bringing the total to 4,354,561&#160;since the start of conservatorships in September 2008.&#160; Of these actions, 3,659,622&#160;have helped troubled homeowners stay in their homes, including 2,356,417&#160;permanent loan modifications.<br></li><li>Tweinty-seven&#160;percent of&#160;modifications&#160;in the second quarter were modifications with principal forbearance.&#160; Modifications with extend-term only accounted for 67&#160;percent of all loan modifications during the quarter.&#160;&#160;<br></li><li>There were 1,546&#160;completed short sales and deeds-in-lieu during the quarter, bringing the total to&#160;694,939&#160;since the conservatorships began in September in 2008.<br></li></ul><p><strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li>The percentage of&#160;60+ days delinquent loans dropped from 1.03&#160;percent at the end of the first quarter to 1.00&#160;percent at the end of the second quarter of 2019.<br></li><li>The Enterprises' serious (90 days or more)&#160;delinquency rate decreased to&#160;0.67&#160;percent at the end of the second quarter. This compared with 3.43&#160;percent for Federal Housing Administration (FHA) loans, 1.81&#160;percent for Veterans Affairs (VA) loans, and 1.95&#160;percent for all loans (industry average).<br></li></ul><p><strong>The Enterprises' Foreclosures&#58;</strong></p><p></p><ul><li>Foreclosure starts decreased&#160;12&#160;percent to 29,480,&#160;and third-party and foreclosure sales also&#160;decreased 6 percent to 10,210&#160;in the second quarter.<br></li></ul><div><h1>Second Quarter 2019&#160;Highlights - Refinance Activities<br></h1><ul><li>Total refinance volume decreased in June 2019, after increasing in previous months, as mortgage rates fell in previous months but remained above levels observed in previous years.&#160; Mortgage rates decreased in June&#58; the average interest rate on a 30-year fixed rate mortgage fell to 3.80 percent from&#160;4.07 percent in May.</li></ul><div><strong>In the Second Quarter of 2019&#58;</strong><br></div><ul><li>Borrowers completed 111 refinances through HARP, bringing total refinances from the inception of the program to 3,495,406.</li><li>HARP volume represented less than 1 percent of total refinance volume.&#160;</li><li>Borrowers who refinanced through HARP has a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.<br></li></ul></div><p></p><div><a href="/Media/PublicAffairs/Pages/More-Than-4pt3-Million-Homeowners-Helped-Since-Conservatorships-9252019.aspx">​Related News Release</a>​<br></div><div><br></div><div>For an interactive online map that provides state data, click on the following link&#58; <em><a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx">F</a></em><em><a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx">annie Mae and Freddie Mac State Borrower Assistance Map</a>.</em><br><br></div>9/25/2019 6:15:31 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance and FPM Report - Second Quarter 2019 The Enterprises completed 31,757 foreclosure prevention actions in the 598https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

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