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
Regulatory Interpretations are Agency guidance concerning the application of a statute or regulation to a particular supervisory issue; not legally binding but entitled to judicial deference.
February 3, 2022
2022-RI-01: Timing of Enterprise Filing of Capital Report under the Enterprise Regulatory Capital Framework Regulation, 12 CFR part 1240 (Capital Rule)
[PDF]
October 4, 2021
2021-RI-01: Eligibility of Mortgage Loan Participations as Collateral for Federal Home Loan Bank Advances
June 23, 2015
2015-RI-01: Transfer of Mortgage Servicing Rights under the Acquired Member Asset Regulations
[PDF]
May 17, 2012
2012-RI-02: Membership - Determination of Principal Place of Business
[PDF]
February 8, 2012
2012-RI-01: Calculation of Insurance Company Tangible Capital
November 9, 2010
2010-RI-05: Investments in Unsecured Debt Issued by Fannie Mae and Freddie Mac
August 23, 2010
2010-RI-04: Bridge Depository Institution as Member of a Federal Home Loan Bank
2010-RI-03: Acceptance of Federal Deposit Insurance Corporation Guarantee as Collateral for Advances
April 9, 2010
2001-RI-06: Use of residential mortgage loans held by an applicant through a repurchase agreement toward satisfaction of the "10 percent of assets in residential mortgage loans" requirement for Federal Home Loan Bank Membership; rescinded by Order, dated March 9, 2010.
[PDF]
February 3, 2010
2010-RI-02: Effect of Foreign Government Guarantees on Unsecured Credit Exposure
January 12, 2010
2010-RI-01: Effect of SFAS 166/167 on Enterprise Statutory Minimum Capital Requirement
December 14, 2009
2009-RI-03: Redemption of Stock by a Federal Home Loan Bank that has been designated "Undercapitalized" under the Prompt Corrective Action Provisions of the Federal Housing Enterprises Safety and Soundness Act of 1992 and the Federal Housing Finance Agency Regulations
September 11, 2009
2009-RI-02: Resident Services Coordinator Expenses in AHP Projects
June 4, 2009
2009-RI-01: Eligibility of Federally Guaranteed Student Loans as Collateral
9/19/2007
2007-RI-02: Federal Home Loan Bank Nomination and Election Process Using Electronic Communications
1/19/2007
2007-RI-01: Electronic Distribution of the Combined Annual and Quarterly Financial Reports of the Federal Home Loan Bank System
10/21/2005
2005-RI-05: Ability To Sever the Credit Enhancement Obligation From the Related Mortgage Loan Under the Acquired Member Asset Regulations
10/20/2005
2005-RI-04: “Special Needs” Scoring Criterion Under the Affordable Housing Program (AHP): Large Families and Farm Workers
10/19/2005
2005-RI-03: "Promotion of Empowerment" Scoring Criterion Under the Affordable Housing Program (AHP): Youth and Health Care Programs or Services
10/4/2005
2005-RI-02: Retention Period for Owner-Occupied Projects Assisted Under the Affordable Housing Program (AHP) and USDA Rural Development Section 502 Program (Section 502 Program)
3/30/2005
2005-RI-01: Application of 12 C.F.R. § 966.8(c) Prohibiting Direct Placement of Consolidated Obligations With a Federal Home Loan Bank
6/24/2004
2004-RI-01: Approval of Changes to an Internal Risk Model
3/28/2003
2003-RI-02: The Qualification of Securities Issued or Guaranteed by State or Municipal Governments or Their Political Subdivisions (Municipal Securities) as “Other Real Estate-Related Collateral” Under Section 10(a)(3)(D) of the Federal Home Loan Bank Act
2/6/2003
2003-RI-01: Requirements for Subsidy Recapture and Retention Agreements and Reasonable Collection Efforts of the Affordable Housing Program (AHP) Regulation
11/19/2002
2002-RI-07: Classification of Fannie Mae Multifamily Assured Schedule Payment Trust Certificates (MAST Bonds)
[PDF]
11/5/2002
2002-RI-06: Application of the Interim Capital Requirements Under 12 C.F.R. § 956.4
5/21/2002
2002-RI-05: Obligations of State Housing Finance Agencies and Unsecured Credit Limitations
4/22/2002
2002-RI-04: Accounting Issues: Electronic Distribution of the Combined Annual and Quarterly Financial Reports of the Federal Home Loan Bank System
3/6/2002
2002-RI-02: Whether the Definition of “Acquired Member Assets” Includes Loans For Which the Servicing Rights Have Been Sold to a Participating Financial Institution Other Than the One Responsible for the Credit Enhancement
3/6/2002
2002-RI-03: Use of Mortgage Pool Insurance as Part of a Credit Enhancement for Acquired Member Assets
2/13/2002
2002-RI-01: Sponsors With Leasehold Interests in Affordable Housing Program Rental Project Buildings and Underlying Land
7/25/2001
2001-RI-07: Office of Finance Indemnification
5/22/2001
2001-RI-06: Use of Residential Mortgage Loans Held by an Applicant Through a Repurchase Agreement Toward Satisfaction of the “10 Percent of Assets in Residential Mortgage Loans” Requirement For Federal Home Loan Bank Membership
5/3/2001
2001-RI-05: Prospective Application of Monitoring Requirements and Use of Affordable Housing Program (AHP) Funds As “First-In” Money Under the AHP Regulation (Part 951)
4/30/2001
2001-RI-04: Status as Core Mission Activities of FHA/VA Loans Acquired Under a Commitment Initiated On or Before April 12, 2000, if the Commitment is Extended Beyond Its One Year Term
3/29/2001
2001-RI-03: Accounting Issues: Effects of SFAS Number 133 on Dividends and Affordable Housing Program Contributions
2/8/2001
2001-RI-02: Determining Non-Mortgage Assets Ration Using An Average Monthly Basis
1/12/2001
2001-RI-01: Authority of the Office of Finance to Reopen Consolidated Obligations
11/21/2000
2000-RI-26: Office of Finance Audit Committee and the Combined Financial Statements
11/17/2000
2000-RI-25: Acquired Member Assets Held for a Valid Business Purpose
9/19/2000
2000-RI-24: Accounting Issues: Audit Committee Disclosures
9/8/2000
2000-RI-12: Election of Directors of the Federal Home Loan Bank of Boston
2000-RI-13: Election of Directors of the Federal Home Loan Bank of New York
2000-RI-14: Election of Directors of the Federal Home Loan Bank of Pittsburgh
2000-RI-15: Election of Directors of the Federal Home Loan Bank of Atlanta
2000-RI-16: Election of Directors of the Federal Home Loan Bank of Cincinnati
2000-RI-17: Election of Directors of the Federal Home Loan Bank of Indianapolis
2000-RI-18: Election of Directors of the Federal Home Loan Bank of Chicago
2000-RI-19: Election of Directors of the Federal Home Loan Bank of Des Moines
2000-RI-20: Election of Directors of the Federal Home Loan Bank of Dallas
2000-RI-21: Election of Directors of the Federal Home Loan Bank of Topeka
2000-RI-22: Election of Directors of the Federal Home Loan Bank of San Francisco
2000-RI-23: Election of Directors of the Federal Home Loan Bank of Seattle
8/11/2000
2000-RI-11: Eligibility of a Privately Insured Credit Union for Federal Home Loan Bank Membership
8/7/2000
2000-RI-10: Applicability of Financial Management Policy to Equity Option Transaction
7/26/2000
2000-RI-09: Accounting Issues: Hedge Accounting – Shortcut Method
7/20/2000
2000-RI-08: Accounting Issues: Refinancing Corporation Income Statement Presentation
7/19/2000
2000-RI-07: Accounting Issues: Valid Economic Hedges and Securities Carried at Fair Value
6/23/2000
2000-RI-06: Accounting Issues: Independent Auditor’s Review of Quarterly Financial Information
6/7/2000
2000-RI-05: Eligibility of Mortgage Loan Participation Interests as Collateral for Federal Home Loan Bank Advances
5/26/2000
2000-RI-04: Treatment of Mobile Home Park Projects Under the Affordable Housing Program Regulation
4/26/2000
2000-RI-03: Refinancing Corporation Financial Statement Presentation
4/10/2000
2000-RI-02: Bank Small Business Grant Programs Under the Community Investment Cash Advance Regulation
3/6/2000
2000-RI-01: Acceptance of Mutual Funds that Enter Into Short-Term, Liquidity Driven Repurchase Agreements as Collateral
12/21/1999
1999-RI-22: Applicability of Newly Enacted Statutory Annual Director Compensation Caps in 1999
12/17/1999
1999-RI-21: Equity Investment in Brownfields Site Redevelopment Project
12/9/1999
1999-RI-20: Application of Newly Enacted Statutory Five-Year Waiting Period to Institutions Seeking to Reapply For Federal Home Loan Bank Membership
12/1/1999
1999-RI-19: Multifamily Mortgage Loan Purchase
10/27/1999
1999-RI-18: Determining Non-Mortgage Investment Ratio Using an Average Monthly Basis
10/26/1999
1999-RI-17: Standby Bond Purchase Agreements With State Housing Finance Agencies
10/8/1999
1999-RI-16: Treatment of Retention Periods for Affordable Housing Program Lease-Purchase Projects
10/6/1999
1999-RI-15: Targeted Mortgage Purchase Program
8/27/1999
1999-RI-14: Questions on the Revised Affordable Housing Program Regulation
7/21/1999
1999-RI-13: Redesignation of Principal Place of Business
7/9/1999
1999-RI-12: Eligibility of Guaranteed Student Loans to be Accepted as Government Securities Collateral for Federal Home Loan Bank Advances
5/5/1999
1999-RI-11: Subsidy Calculations for Affordable Housing Program Subsidized Advances
4/7/1999
1999-RI-10: Sequential Participations
4/6/1999
1999-RI-09: Proposed Federal Home Loan Bank Capital Stock Redemption Fee Option
3/16/1999
1999-RI-08: Federal Home Loan Bank Authority to Accept Eligible Collateral From a Member’s Real Estate Investment Trust Subsidiary
3/3/1999
1999-RI-07: Federal Home Loan Bank Authority to Issue Standby Letters of Credit in Conjunction With Tax-Exempt Bonds or Notes, Including School Construction Bonds
2/26/1999
1999-RI-06: Use of a Rider In Connection With Affordable Housing Program Projects and Nonliability For Repayment of Affordable Housing Program Subsidies
2/25/1999
1999-RI-05: Affordable Housing Program Questions and Answers Part 2
1/26/1999
1999-RI-02: Investment in Federal Housing Administration Small Project Loans Under the Financial Management Policy
1999-RI-03: Demonstrating the Need For Affordable Housing Program Subsidy for Owner-Occupied Projects With Sponsor-Provided Permanent Financing
1999-RI-04: Homeownership Set-Aside Programs Under the Affordable Housing Program Regulation
1999-RI-05Att.pdf
1999-RI-03Sup.pdf
12/22/1998
1998-RI-06: Membership Lock-Out Period Under Section 6(h) of the Federal Home Loan Bank Act
12/21/1998
1998-RI-05: Automatic Membership Under Section 933.4(d)(1) of FHFB Membership Regulation
12/18/1998
1998-RI-04: Scoring Criteria of the Affordable Housing Program Regulation
1998-RI-09: Questions on the Revised Affordable Housing Program Regulation
12/10/1998
1998-RI-07: Status of Small Business Loan-Backed Securities Under the Financial Management Policy
1998-RI-08: Status of Section 108 Participation Certificate Under the Financial Management Policy
12/7/1998
1998-RI-02: Leverage Limit Under the Financial Management Policy
12/2/1998
1998-RI-01: Whether Mortgage Assets Held By a Member’s Real Estate Investment Trust Subsidiary Are Eligible Collateral for Advances Under Section 10(a) of the Federal Home Loan Bank Act