U.S. Federal Housing (Federal Housing Finance Agency, FHFA, or the Agency) was established by the Housing and Economic Recovery Act of 2008 (HERA) and is responsible for the effective supervision, regulation, and housing mission oversight of the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the 11 Federal Home Loan Banks (FHLBanks). The Agency works to ensure that Fannie Mae, Freddie Mac, and the FHLBanks fulfill their mission by operating in a safe and sound manner to serve as a reliable source of liquidity and funding for housing finance and community investment.
The Federal Home Loan Bank Act (Bank Act) requires each FHLBank to offer advances designed to support the financing of housing for lower-income households and economic development projects that benefit lower-income areas. This report discusses the FHLBanks’ mission activities to support low-income housing and community development in 2025.