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Welcome to the Government page of FHFA’s website.  This page provides consolidated resources for federal, state and local government personnel who are interested in the nation’s housing finance system.


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  1. Read FHFA's latest Annual Report to Congress.

  2. Read the latest Strategic Plan for Conservatorships or the latest Scorecard.

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Key Legislation

 

Short Title (Citation)

Document

FEDERAL HOME LOAN BANKS

Federal Home Loan Bank Act

12 U.S.C. 1421 et seq.
(Public Law 72-304 (1932))

Established the Federal Home Loan Bank System.

GPO Text / PDF

FEDERAL HOUSING FINANCE AGENCY CHARTER

Federal Housing Enterprises Financial Safety and Soundness Act of 1992

12 U.S.C. 4501 et seq.
(Public Law 102-550 (1992))

Primary statutory authorization for FHFA’s regulation of Fannie Mae, Freddie Mac and the Federal Home Loan Bank System, including supervision of housing mission and goals and actions as conservator or receiver for Fannie Mae, Freddie Mac or any Federal Home Loan Bank.

Housing and Economic Recovery Act of 2008

(Public Law 110-289 (2008))

Amended the Safety and Soundness Act to create FHFA, place regulation of Fannie Mae, Freddie Mac and the Bank System under one regulator, enhance supervision of these regulated entities, and enhance FHFA's authorities as conservator or receiver. 

GPO Text / PDF










 
GPO Text / PDF

FREDDIE MAC CHARTER

Federal Home Loan Mortgage Corporation Act

12 U.S.C. 1451 et seq.
(Public Law 91-351 (1970))

Created Freddie Mac and provided authority for Freddie Mac’s activities.

GPO Text / PDF

FANNIE MAE CHARTER

Federal National Mortgage Association Charter Act

12 U.S.C. 1716 et seq.
(Public Law 84-345,National Housing Act, Title III (1934), as amended by the Housing and Urban Development Act of 1968)

Created Fannie Mae and provided authority for Fannie Mae’s activities. Amendment in 1968 created the Government National Mortgage Association (Ginnie Mae), supervised by the Department of Housing and Urban Development.

GPO Text / PDF

Find regulations pertaining to FHFA supervision at eCFR.

CONGRESSIONAL LETTERS


 Related Information

 

 

FHFA House Price Index Up 1.6 Percent in April; Up 18.8 Percent from Last Year37632<p><strong>​Washington, D.C. </strong>– 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 <strong>18.8 percent</strong> 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.<br></p><p>For the nine census divisions, seasonally adjusted monthly house price changes from March 2022 to April 2022 ranged from <strong>+0.3 percent</strong> in the East South Central division to<strong> +2.5 percent </strong>in the West South Central division.&#160;The 12-month changes were all positive, ranging from <strong>+14.1 percent</strong> in the Middle Atlantic division to <strong>+23.5 percent</strong> in the South Atlantic division.<br></p><p>&quot;House price appreciation continues to remain elevated in April,&quot; said Will Doerner, Ph.D., Supervisory Economist in FHFA's Division of Research and Statistics.&#160;&quot;The inventory of homes on the market remains low, which has continued to keep upward pressure on sales prices.&#160; Increasing mortgage rates have yet to offset demand enough to deter the strong price gains happening across the country.&quot;<br></p><p>The FHFA HPI is the nation's only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s.&#160;The FHFA HPI incorporates tens of millions of home sales and offers insights about house price fluctuations at the national, census division, state, metro area, county, ZIP code, and census tract levels.&#160;FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.<br></p><p>FHFA releases HPI data and reports on a quarterly and monthly basis. The flagship FHFA HPI uses nominal, seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac.&#160;Additional indexes use other data including refinances, FHA mortgages, and real property records.&#160;All the indexes, including their historic values, and information about future HPI release dates are available on FHFA's website&#58; <a href="/HPI">https&#58;//www.fhfa.gov/HPI</a>.<br></p><p>FHFA will release its next HPI report on July 26, 2022, with monthly data through May 2022.<br></p>6/28/2022 1:00:46 PMHome / Media / FHFA House Price Index Up 1.6 Percent in April; Up 18.8 Percent from Last Year News Release 4839https://www.fhfa.gov/Media/PublicAffairs/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 803https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Releases 1st Quarter 2022 Foreclosure Prevention and Refinance Report37637​ <p> <strong>​​Washington, D.C. </strong>– The Federal Housing Finance Agency (FHFA) today released its first quarter <a href="/AboutUs/Reports/ReportDocuments/FPRR_1Q2022.pdf">2022 Foreclosure Prevention and Refinance Report</a>​. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 129,779 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,494,057 since the start of conservatorships in September 2008.</p><p>The report also shows that 75 percent of loan modifications completed in the first quarter reduced borrowers' monthly payments by more than 20 percent. The number of refinances decreased amid rising mortgage rates from 1,266,043 in the fourth quarter to 899,518 in the first quarter.</p><p>The Enterprises' serious delinquency rate declined from 1.19 percent to 0.97 percent at the end of the first quarter. This compares with 5.33 percent for Federal Housing Administration (FHA) loans, 3.15 percent for Veterans Affairs (VA) loans, and 2.39 percent for all loans (industry average).</p><p>Other highlights from the report include&#58;</p><ul><li style="line-height&#58;1.4 !important;"> <em>Forbearance</em>&#58; As of March 31, 2022, there were 126,758 loans in forbearance, representing approximately 0.41 percent of the Enterprises single-family conventional book of business, down from 178,019 or 0.59 percent at the end of the fourth quarter of 2021. About 18 percent of these loans have been on the plan for more than 12 months.</li><li style="line-height&#58;1.4 !important;"> <em>Mortgage Performance</em>&#58; The 60+ days delinquency rate dropped from 1.34 percent at the end of the fourth quarter to 1.11 percent at the end of the first quarter of 2022. The delinquency rates remained higher than pre-coronavirus rates due to the forbearance programs offered to borrowers aff​​​ected by the pandemic. </li><li style="line-height&#58;1.4 !important;"> <em>Foreclosures</em>&#58; The number of foreclosure starts more than tripled to 20,624 while third-party and foreclosure sales decreased 5 percent to 3,054 in the first quarter.</li><li style="line-height&#58;1.4 !important;">​ <em>Real Estate Owned (REO) Activity &amp; Inventory</em>&#58; The Enterprises' REO inventory increased 3 percent from 8,781 in the fourth quarter to 9,048 in the first quarter of 2022, as REO acquisitions outpaced property dispositions. The total number of property acquisitions decreased 15 percent to 1,480, while dispositions increased 27 percent to 1,255 during the quarter.</li></ul> ​​ <p>FHFA's quarterly foreclosure prevention and refinance reports include data on the Enterprises' mortgage performance, delinquencies, and active forbearance plans, as well as forfeiture actions and refinances by state. The data included in these reports are also available on FHFA's website as an interactive <a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx">Borrower Assistance Map</a>​.​<br></p><p> <br> </p>6/28/2022 5:00:44 PMHome / Media / FHFA Releases 1st Quarter 2022 Foreclosure Prevention and Refinance Report News Release 716https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
Foreclosure Prevention, Refinance, and FPM Report - 1Q202237638<h2 style="border-color&#58;currentcolor;font-family&#58;lato, sans-serif;font-style&#58;normal;padding-top&#58;8px !important;">​​​1Q22 Highlights —&#160;Foreclosure Prevention<br></h2><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;margin-top&#58;8px !important;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Foreclosure Prevention Actions&#58;</span></p><ul><li style="line-height&#58;1.4 !important;">The Enterprises completed 129,779 foreclosure prevention actions in the first quarter of 2022, bringing the total to 6,494,057 since the start of conservatorships in September 2008. Of these actions, 5,790,354 have helped troubled homeowners stay in their homes, including 2,544,752 permanent loan modifications.</li><li style="line-height&#58;1.4 !important;">Initiated forbearance plans decreased to 59,778 in the first quarter 2022 from 72,146 in the fourth quarter of 2021. The total number of loans in forbearance at the end of the quarter was 126,758, representing approximately 0.41 percent of the total loans serviced, and 23 percent of the total delinquent loans.</li><li style="line-height&#58;1.4 !important;">Six percent of modifications in the first quarter were modifications with principal forbearance. Modifications that include reduce rate and extend-term accounted for 72 percent of all loan modifications during the quarter.</li><li style="line-height&#58;1.4 !important;">​There were 240 completed short sales and deeds-in-lieu during the quarter, bringing the total to 703,703 since the conservatorships began in September 2008.</li></ul><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Mortgage Performance&#58;</span></p><ul><li style="line-height&#58;1.4 !important;">The 60+ days delinquency rate dropped from 1.34 percent at the end of the fourth quarter 2021 to 1.11 percent at the end of the first quarter of 2022. The delinquency rates remained higher than pre-coronavirus rates due to the forbearance programs offered to borrowers affected by the pandemic.</li><li style="line-height&#58;1.4 !important;">The Enterprises' serious (90 days or more) delinquency rate dropped to 0.97 percent at the end of the first quarter. This compared with 5.33 percent for Federal Housing Administration (FHA) loans, 3.15 percent for Veterans Affairs (VA) loans, ​and 2.39 percent for all loans (industry average).</li></ul><p style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;"> <span style="border-color&#58;currentcolor;font-family&#58;inherit;font-size&#58;inherit;font-weight&#58;700 !important;">The Enterprises' Foreclosures&#58;</span></p><ul><li style="line-height&#58;1.4 !important;">Foreclosure starts more than trippled to 20,624 while third-party and foreclosure sales decreased 5 percent to 3,054 in the first quarter.</li></ul><blockquote style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;font-weight&#58;400;margin-left&#58;40px;"><p style="border-color&#58;currentcolor;"> <em style="border-color&#58;currentcolor;">​For an interactive online map that provides state data, click on the following link&#58;&#160;</em></p><p style="border-color&#58;currentcolor;"> <em style="border-color&#58;currentcolor;"></em><a href="/DataTools/Tools/Pages/Borrower-Assistance-Map.aspx" style="border-color&#58;currentcolor;font-family&#58;&quot;source sans pro&quot;, sans-serif;">Fannie Mae and Freddie Mac State Borrower Assistance Map</a>​<br></p></blockquote> <span style="color&#58;#444444;font-family&#58;&quot;source sans pro&quot;, sans-serif;font-style&#58;normal;">​</span><span style="color&#58;#444444;font-style&#58;normal;"></span> <h2 style="border-color&#58;currentcolor;font-family&#58;lato, sans-serif;font-style&#58;normal;padding-bottom&#58;8px !important;">1Q22&#160;Highlights ​— Refinance Activities​​<br></h2><ul><li style="line-height&#58;1.4 !important;">Total refinance volume decreased in March 2022 amid rising mortgage rates through February. Mortgage rates rose in March&#58; the average interest rate on a 30-year fixed rate mortgage increased to 4.17 percent from a February level of 3.76 percent.</li><li style="line-height&#58;1.4 !important;">The percentage of borrowers refinancing into shorter term 15-year fixed rate mortgages continued at 23 percent in March as the difference between 15-and 30-year fixed rate mortgages remained in the three quarters of a percent range in recent months through February. In March, the difference between 15-and 30-year fixed rate mortgages increased to 78 basis points.</li></ul><p style="margin-top&#58;12px !important;margin-bottom&#58;12px !important;"> <a href="/Media/PublicAffairs/Pages/FHFA-Releases-1st-Quarter-2022-Foreclosure-Prevention-and-Refinance-Report.aspx">Related News Release</a></p>6/28/2022 5:00:53 PMHome / About FHFA / Reports / Foreclosure Prevention, Refinance, and FPM Report - 1Q2022 Foreclosure 265https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Statement from FHFA Director Sandra L. Thompson on FHFA's Ongoing Commitment to UMBS37616<p>On June 14, 2022 Fannie Mae and Freddie Mac (the “Enterprises&quot;) both announced an upfront fee for the guarantee each Enterprise provides covering the collateral of the other Enterprise in commingled securities effective July 1. The Enterprises instituted this fee to accommodate the increased capital requirements associated with this activity as proposed and finalized in the 2020 Enterprise Regulatory Capital Framework.<br></p><p>FHFA remains committed to the continued strength and resilience of the Single Security Initiative (Initiative) given the significant improvement in liquidity and stability that this Initiative has afforded the TBA market. </p><p>FHFA will continue to monitor the UMBS and TBA market to ensure UMBS and the related TBA market function as intended and will continue regular engagement with stakeholders.&#160;<br></p>6/23/2022 6:00:40 PMOn June 14, 2022 Fannie Mae and Freddie Mac (the “Enterprises") both announced an upfront fee for the guarantee each Enterprise provides covering the collateral of the other 1989https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx

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