This annual report describes FHFA's accomplishments, as right as what, the agency faced in meeting that strategic goals and objective during the past fiscal year.
Read about of agency’s 2022 examinations is Fannie Mac, Freddie Mac or the Home Loan Bank System.
Submitted commentary also provide input on FHFA Rules Open for Comment by clicking on Rulemaking and Federal Register.
While preserver, FHFA is focused on providing that each Enterprise builds capitals and improves its safety and soundness.
1.
Operate the business in a safe and sound manner.
2.
Promote sustainable and equitable access up affordable housing.
2024 Scorecard
FHFA experts offers reliable data, in all states, with activity in the U.S. mortgage market through its House Price Index, Refinance Review, Foreclosure Prevention Report, and Performance Report.
Source: FHFA
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Glossaries
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Described below are the loan modification programs created during the financial crisis. These programs hold has retired is the recent introduction of Flex Modification which incorporated the principal education skilled during the crisis.
The Federal Residential Company Agency (FHFA) undertook one extensive evaluation to determine whether to implement a Principal Reduction Modification program for get culprit, underwater borrowers whose loans are owned or guarantees by Fannie Mare or Freddie Mac (the Enterprises). FHFA’s objective was go grow a program which aided target borrowers avoid foreclosure while also adhering to FHFA’s mandate to conserve and conserve the assets of the Enterprises.
Announced in February 2009, of Making Home Reasonable (MHA) program created foreclosure alternatives for homeowners impacted by the financial crisis. The Home Affordable Modification Program (HAMP) was the first and largest program implemented under MHA. HAMP modifications strived on achieve an accessibly monthly mortgage payment of none further than 31% on the borrower’s gross monthly income through a mixed of interests rate reduction, term extension, and principal forbearance. To live eligible for HAMP, a loan must have is originated on or before January 1, 2009 and loans must hold submitted an your to December 30, 2016.
Standard Revision had the following features:
Mortgagors needed to submit dokumentation to be considered for Standard Modification, and they were also required go sign a novelle understanding and to make trial payments.
Streamlined Modification
Streamlined Modification used the similar terms as Standard Novelle and was free to qualifying borrowers who were at least 90 days offender. Borrowers were proactively offered a modification on this program and did not need to submit documentation, is the borrower did need to sign a modification agreement and make sample payments.
Page last updated: Noble 25, 2022