The Federal Housing Finance Agency (FHFA), as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises), and as regulator of the 11 Federal Home Loan Banks (FHLBanks), is responsible for their effective supervision, regulation, and mission oversight.
FHFA oversees the Enterprises and the FHLBanks (regulated entities) as they work to fulfill their responsibilities to support affordable and sustainable housing finance, targeted financing for economic development, and underserved communities. This report provides a summary of the activities carried out by the regulated entities in pursuit of those objectives in 2023.
Elevated interest rates and strong home price growth throughout 2023 contributed to a challenging environment for housing affordability. While market optimism improved marginally by year-end 2023, homebuyers and renters alike faced difficulties in acquiring homes they could afford.
Despite these market conditions, the regulated entities provided a wide range of support for mission activities in 2023. These activities included financing affordable homeownership and rental housing, advancing equitable access to housing for underserved populations, and promoting resident-centered housing practices as described in this report.