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 2015 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.
Goal: Help restore confidence, enhance capacity to fulfill mission, and mitigate systemic risk that contributed directly to instability in financial markets.
MAINTAIN foreclosure prevention activities and credit availability, REDUCE taxpayer risk, and BUILD a new single-family securitization infrastructure. Read more in the 2016 Scorecard and Conservatorships Strategic Plan.
Plans and Reports
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.
HARP - the Home Affordable Refinance Program was created by FHFA specifically to help homeowners current on their mortgage payments, but underwater on their mortgages.
FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector. Meet the experts...
Key Topics pages provide information about FHFA's work on a range of issues facing the nation and highlight the most relevant related news releases, reports, statements and web pages on the respective topics.
The Honorable Melvin L. Watt of Charlotte, NC sworn in on January 6th to a 5-year term as the first Senate-confirmed Director of FHFA.
Read more about Director Watt
Beginning in 2014, FHFA required Fannie Mae and Freddie Mac and each individual Federal Home Loan Bank to conduct stress tests pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act). The Dodd-Frank Act requires certain financial companies with total consolidated assets of more than $10 billion, and which are regulated by a primary federal financial regulatory agency, to conduct annual stress tests to determine whether the companies have sufficient capital to absorb losses and support operations during adverse economic conditions.
Dodd-Frank Act stress testing is a forward-looking exercise that assesses the impact on capital levels that would result from immediate financial shocks and nine quarters of adverse economic conditions. FHFA requires its regulated entities to submit the results of stress tests based on three scenarios: a Baseline scenario, an Adverse scenario, and a Severely Adverse scenario. FHFA aligned the stress test scenario variables and assumptions with those used by the Board of Governors of the Federal Reserve System in its annual Dodd-Frank Act stress tests.
2016 DFAST Reporting Cycle
2015 DFAST Reporting Cycle
2014 DFAST Reporting Cycle
Orders
Fannie MaeOrder to Fannie Mae (March 2, 2016)Summary Instructions and Guidance (March 2, 2016)
Freddie MacOrder to Freddie Mac (March 2, 2016)Summary Instructions and Guidance (March 2, 2016)
FHLBanksOrder for FHLBanks (March 2, 2016)Summary Instructions and Guidance (March 2, 2016)
XLS Spreadsheets2016 FHFA Scenarios2016 FHFA Scenario Variables and Assumptions Templates2016 FHFA Enterprises Stress Test Templates - Baseline2016 FHFA Enterprises Stress Test Templates - Adverse2016 FHFA Enterprises Stress Test Templates - Severely Adverse2016 FHFA FHLBanks Stress Test Templates - Baseline2016 FHFA FHLBanks Stress Test Templates - Adverse2016 FHFA FHLBanks Stress Test Templates - Severely Adverse2016 FHFA DFAST Adverse Market Shocks2016 FHFA DFAST Severely Adverse Market Shocks
Fannie MaeSecond Supplemental Order to Fannie Mae with Attachment IOrder to Fannie Mae (December 1, 2014)Summary Instructions and Guidance (December 1, 2014)
Freddie MacSecond Supplemental Order to Freddie Mac with Attachment IOrder to Freddie Mac (December 1, 2014)Summary Instructions and Guidance (December 1, 2014)
FHLBanksSupplemental Order to FHLBanks (June 10, 2015)Second Supplemental Order to the FHLBanks with Attachment IOrder to FHLBanks (December 1, 2014)Summary Instructions and Guidance (December 1, 2014)
XLS Spreadsheets2015 FHFA Scenarios2015 FHFA Scenario Variables and Assumptions Templates2015 FHFA Enterprises Stress Test Templates - Baseline2015 FHFA Enterprises Stress Test Templates - Adverse2015 FHFA Enterprises Stress Test Templates - Severely Adverse2015 FHFA FHLBanks Stress Test Templates - Baseline2015 FHFA FHLBanks Stress Test Templates - Adverse2015 FHFA FHLBanks Stress Test Templates - Severely Adverse2015 FHFA FHLBanks Stress Test Templates - Severely Adverse - (revised June 10, 2015)2015 FHFA DFAST Adverse Market Shocks2015 FHFA DFAST Severely Adverse Market Shocks
Fannie MaeOrder to Fannie MaeAppendices to OrderSummary Instructions & GuidanceSupplemental Order to Fannie MaeAppendices to Supplemental Order
Freddie MacOrder to Freddie MacAppendices to OrderSummary Instructions & GuidanceSupplemental Order to Freddie MacAppendices to Supplemental Order
FHLBanksOrder to FHLBanksAppendices to OrderSummary Instructions & GuidanceSupplemental Order to FHLBanksAppendices to Supplemental Order
XLS Spreadsheets2014 FHFA Scenarios2014 FHFA Scenario Variables and Assumptions Templates2014 FHFA Enterprises Stress Test Templates2014 FHFA FHLBanks Stress Test Templates2014 FHFA Global Market Shocks - Adverse2014 FHFA Global Market Shocks - Severe
News Releases
Stress Testing ReportsAll Fannie Mae and Freddie Mac Stress Testing Reports
Stress Testing - RulemakingAll Stress Testing Rulemaking Pages and Documents
TestimonyAn Update from the Federal Housing Finance Agency on Oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks (4/18/2013)
OtherAnnual Report to Congress – 2014 (6/15/2015)