The Agency's 2025 Report to Congress covers the activities of FHFA and its regulated entities in 2025. The statutorily-required report provides information about the Agency's 2025 examinations of Fannie Mae and Freddie Mac (together, the Enterprises), U.S. FinTech, 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 the Agency's legislative recommendations. This report meets all such requirements applicable as of December 31, 2025.