The Federal Housing Financial Agency (FHFA) is an independent agency of the United States government, established in 2008 by the Housing and Economic Recovery Act of 2008. It regulates and supervises Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks (FHLBs).
What does the FHFA do?
The FHFA’s primary role is to oversee the safety and soundness of Fannie Mae, Freddie Mac, and the FHLBs. The agency also protects consumers by ensuring that mortgages are fair, responsible, and affordable. The FHFA sets mortgage origination and servicing standards while operating several housing finance programs to help promote sustainable homeownership and rental housing.
What is the mission of the FHFA?
The mission of the FHFA is to ensure safe, sound, and stable housing finance by fostering liquid, efficient, competitive, and resilient national housing finance markets. The agency seeks to create strong national markets that provide access to reliable and affordable housing finance for all creditworthy borrowers. The FHFA also facilitates access to capital to support communities in need, promote efficient use of resources, and ensure effective regulation and supervision of the housing finance system.
How does the FHFA protect consumers?
The FHFA is committed to protecting consumers and promoting responsible lending practices. The agency does this by enforcing rules and regulations that ensure mortgages are fair, responsible, and affordable. Additionally, the FHFA works with state governments and regulators to protect consumers from predatory lending practices and other forms of financial abuse. The agency also promotes access to credit for underserved communities by providing various housing finance programs and incentives.
In summary, the Federal Housing Financial Agency is an independent agency of the United States government that regulates and supervises Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks. The primary role of the FHFA is to ensure safety and soundness in the housing finance system while protecting consumers from predatory lending practices.
The Reverse Mortgage Resource Center provides financing options for Reverse Mortgages, Reverse Mortgages for Purchase, Cash Out Reverse Mortgages, HECM to HECM Refinance Reverse Mortgages, and Jumbo Reverse Mortgages options.