This annual report describes FHFA's accomplishments, as well as challenges, the agency faced in meeting the strategic goals and objectives during the past fiscal year.
Read about the agency’s 2022 examinations of Fannie Mac, Freddie Mac and the Home Loan Bank System.
Submit comments and provide input on FHFA Rules Open for Comment by clicking on Rulemaking and Federal Register.
As conservator, FHFA is focused on ensuring that each Enterprise builds capital and improves its safety and soundness.
1.
Operate the business in a safe and sound manner.
2.
Promote sustainable and equitable access to affordable housing.
2023 Scorecard
FHFA experts provide reliable data, including all states, about activity in the U.S. mortgage market through its House Price Index, Refinance Report, Foreclosure Prevention Report, and Performance Report.
Source: FHFA
FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector. Meet the experts...
Glossaries
COVID-19 Resources
The Neighborhood Stabilization Initiative (NSI) was designed to stabilize neighborhoods hardest hit by the housing downturn. It was jointly developed by the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac and includes strategies for disposing of the inventory of real estate owned (REO) properties held by Fannie Mae and Freddie Mac. Some particular markets have large concentrations of distressed and low-value REO properties as well as large volumes of loans that had been delinquent for more than one to two years that are likely to become REO.
Given the unique challenges presented by these markets—high vacancy rates, weak for-sale markets, steep home-price declines—Fannie Mae and Freddie Mac selected the National Community Stabilization Trust (NCST), a national non-profit organization experienced in stabilization efforts for distressed communities to implement the NSI. Working together, they leverage their ties to "boots on the ground" community organizations and local non-profits, and work closely with local governments to make timely and informed decisions about the best treatment of individual properties.
NSI was initiated as a pilot in the city of Detroit, Michigan in May 2014, and was then expanded to Cook County, Illinois in April 2015. Building on the lessons learned from the pilot, NSI was developed into a program and was expanded in December 2015 to 18 different metropolitan statistical areas with high volumes of low-value REO inventory. In December 2017, 10 additional markets were designated for further expansion. Currently, Fannie Mae operates their neighborhood stabilization efforts through their Community First Platform and has expanded the program to new markets across the country. Freddie Mac continues to administer their neighborhood stabilization efforts through NCST.
Page last updated: August 25, 2022
