Federal Housing Finance Agency Print
  • FHFA Government HEader Image
  • ​​Informed Insight

    FHFA provides public information and access to resources for those creating and enforcing policies, regulations and rules, to help Americans make better housing finance decisions and strengthen the U.S. housing market.


Skip Navigation Links.
Skip Navigation Links.
Home / Government

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.

I want to:

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

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

  3. Read recent Research.

  4. Download Data.

  5. Read recent Speeches or Testimony.


Find what you were looking for? If not, send us a note about what you would like added to this page. Complete a general feedback form by clicking here.


Key Legislation


Short Title (Citation)



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 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


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


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.


 Related Information



Foreclosure Prevention Refinance and FPM Report November 201930412<h3>November&#160;2019 Highlights -- Foreclosure Prevention</h3><p> <strong>The Enterprises' Foreclosure Prevention Actions&#58;</strong></p><ul style="list-style-type&#58;disc;"><li><p>The Enterprises completed 8,156 foreclosure prevention actions in November, bringing the total to 4,398,274 since the start of the conservatorships in September 2008. Over half of these actions have been permanent loan modifications.</p></li><li><p>There were 4,851 permanent loan modifications in November, bringing the total to 2,384,609 since the conservatorships began in September 2008.</p></li><li><p>Twenty-eight percent of modifications in November were modifications with principal forbearance. Modifications with extend-term only accounted for&#160;63 percent of all loan modifications during the month.</p></li><li><p>There were&#160;424 short sales and deeds-in-lieu of foreclosure completed in November,&#160;down 17 percent compared with October.</p></li></ul><p> <strong>The Enterprises' Mortgage Performance&#58;</strong></p><ul><li><p>The serious delinquency rate decreased slightly&#160;from 0.65 percent at the end of October to 0.64 percent at the end of November.</p></li></ul><p> <strong>The Enterprises' Foreclosures&#58;</strong></p><ul style="list-style-type&#58;disc;"><li><p>Third-party and foreclosure sales decreased&#160;13 percent from 3,174 in October to 2,763 in November.</p></li><li><p>Foreclosure starts decreased&#160;slightly&#160;from 9,678 in October to 9,662 in November.</p></li></ul><p> <strong>November 2019 Highlights -- Refinance Activities</strong></p><ul style="list-style-type&#58;disc;"><li><p>Total refinance volume decreased in&#160;November 2019 as mortgage rates&#160;rose in previous months but remained near lows last observed in 2015. Mortgage rates increased in November&#58; the average interest rate on a 30-year fixed rate mortgage rose to 3.70 percent from 3.60 percent in October.</p></li><li><p>The percentage of cash-out refinances increased to 40 percent in November but remained well below the peak observed in late 2018. Mortgage rates have fallen from the highs observed a year ago to lows last observed in 2015, creating more opportunities for non cash-out borrowers to refinance at lower rates and lower their monthly payments.</p></li><li><p>In November 2019,&#160;3 refinances were completed through the High LTV Refinance Option, bringing total refinances through the High LTV Refinance Option from the inception of the program to 7.</p></li></ul>2/14/2020 6:49:33 PMHome / About FHFA / Reports / Foreclosure Prevention Refinance and FPM Report November 2019 Foreclosure 131https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
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
FHFA Announces Fannie Mae and Freddie Mac Update on LIBOR Transition30379<p>​<strong style="font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;">Washington, D.C. </strong>– The Federal Housing Finance Agency today announced additional steps Fannie Mae and Freddie Mac (the Enterprises) are taking as they transition from the London Interbank Offered Rate (LIBOR), the world's most widely used interest rate benchmark&#58;&#160;<br></p><ul><li>New language will be required for single-family Uniform Adjustable Rate Mortgage (ARM) instruments closed on or after June 1, 2020;&#160;&#160;</li><li>All LIBOR-based single-family and multifamily ARMs must have loan application dates on or before September 30, 2020 to be eligible for acquisition; and,</li><li>Acquisitions of single-family and multifamily LIBOR ARMs will cease on or before December 31, 2020.</li></ul><p>“These steps represent important milestones in the Enterprises' transition away from LIBOR to a more robust reference rate.&#160; We will continue to monitor exposure to LIBOR and ensure the Enterprises manage the risks associated with the transition in a safe and sound manner,&quot; said FHFA Director Mark Calabria.&#160;&#160;</p><p>​Fannie Mae and Freddie Mac serve as members of the Alternative Reference Rates Committee (ARRC), which was established by the Federal Reserve Board and the Federal Reserve Bank of New York to facilitate the migration from LIBOR to Secured Overnight Financing Rate (SOFR).<br></p><p>​<a href="https&#58;//singlefamily.fanniemae.com/media/document/pdf/lender-letter-ll-2020-01">Link to Fannie Mae Single-Family LIBOR Transition Announcement</a><br></p><p> <a href="https&#58;//multifamily.fanniemae.com/media/document/lender-letter-20-02">Link to Fannie Mae Multifamily LIBOR Transition Announcement</a><br></p><p> <a href="https&#58;//guide.freddiemac.com/app/guide/bulletin/2020-1" style="font-family&#58;&quot;source sans pro&quot;, sans-serif;font-size&#58;14px;font-style&#58;normal;">Link to Freddie Mac&#160;Single-Family LIBOR Transition Announcement</a><br></p><p style="font-style&#58;normal;"> <a href="https&#58;//mf.freddiemac.com/news/2020/20200205_libor_update.html">Link to Freddie Mac&#160;Multifamily LIBOR Transition Announcement​​</a><br></p><p style="font-style&#58;normal;"> <br> <a href="/SupervisionRegulation/LIBORTransition">Link to FHFA LIBOR Transition Page at FHFA.gov</a><br></p>2/5/2020 9:00:24 PMHome / Media / FHFA Announces Fannie Mae and Freddie Mac Update on LIBOR Transition News Release 9879https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Proposes Updated Minimum Financial Eligibility Requirements for Fannie Mae and Freddie Mac Seller/Servicers30311<p> <strong>Washington, D.C</strong>. – The Federal Housing Finance Agency (FHFA) today proposed updated minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Servicers.&#160; </p><p>The updated minimum financial requirements will further strengthen the Enterprises' Seller/Servicer requirements and provide transparency and consistency of capital and liquidity required for Seller/Servicers with different business models.&#160; A key improvement from the minimum financial requirements established in 2015 is that the new Enterprise standards establish financial requirements for the servicing of Ginnie Mae mortgages. </p><p>FHFA is releasing the proposed requirements to provide transparency and consistency to industry participants and other stakeholders.&#160; FHFA and the Enterprises will engage with servicing industry participants, regulators and other stakeholders to obtain their feedback.&#160;&#160;FHFA will receive input on these requirements for 60 days at <a href="mailto&#58;ServicerEligibility@fhfa.gov">ServicerEligibility@fhfa.gov</a>. </p><p>After reviewing industry and stakeholder feedback, FHFA anticipates finalizing these requirements in the second quarter of 2020, and anticipates that the requirements will be effective six months after they are finalized.&#160; </p><p></p>1/31/2020 3:17:55 PMWashington, D.C. – The Federal Housing Finance Agency (FHFA) today proposed updated minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Servicers 3698https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
Quarterly FOIA Report - First Quarter 202030319<p>​The Office of Information Policy requires all agencies to provide quarterly reporting for four key FOIA statistics to the Department of Justice. This report is attended to identify trends and assess agencies' progress through the course of the year.​<br></p>1/31/2020 6:55:15 PMHome / About FHFA / Reports / Quarterly FOIA Report - First Quarter 2020 FOIA Quarterly Report 327https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

© 2019 Federal Housing Finance Agency