FHFA

What FHFA does

The Federal Housing Finance Agency (FHFA) is an independent U.S. federal regulatory agency established by the Housing and Economic Recovery Act of 2008 (HERA), headquartered at 400 7th Street SW in Washington, D.C. The agency is responsible for the effective supervision, regulation, and housing mission oversight of three core regulated entities: the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Home Loan Bank System, which comprises 11 regional Federal Home Loan Banks and the Office of Finance. Since September 2008, FHFA has simultaneously served as conservator of Fannie Mae and Freddie Mac, exercising direct control over their operations following the 2008 housing crisis.

FHFA's operational portfolio spans regulatory programs, policy frameworks, and data infrastructure. Core products include the FHFA House Price Index® (HPI®), which measures single-family home value changes across all 50 states and over 400 American cities; the National Mortgage Database (NMDB®) for anonymized mortgage performance research; the Common Securitization Platform enabling uniform MBS issuance; and Credit Risk Transfer programs that shift mortgage credit risk to private investors. The agency also administers regulatory programs including the Suspended Counterparty Program, Fraud Prevention, Duty to Serve, Enterprise Housing Goals, and Loss Mitigation. FHFA's technology stack centers on federal regulatory technology systems including data analytics, mortgage database systems, and housing finance analytics platforms, with proprietary assets such as the internal Data Analytics Platform (DAP).

FHFA is funded through annual Congressional appropriations and does not generate commercial revenue. It sells no products or services and operates under no commercial pricing model. Its "customers" in the operational sense are the three regulated entity systems it oversees, along with the broader mortgage lending and servicing industry subject to its supervisory authority. The agency's leadership consists of Director William J. Pulte (who also chairs Fannie Mae and Freddie Mac) and Deputy Director Sandra L. Thompson. FHFA communicates through government channels including FHFA.gov, news releases, congressional testimonies, the Federal Register, and a social media presence on Facebook, LinkedIn, YouTube, and X.

Name

FHFA

Legal name

Federal Housing Finance Agency

Website

https://fhfa.gov

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

501–1,000 employees

Short description

The Federal Housing Finance Agency (FHFA) is an independent U.S. federal regulatory agency that supervises Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks, serving as their conservator since 2008 and overseeing the $10 trillion U.S. mortgage finance system.

Ownership category

akta.pro rank

Product category

Housing Finance Regulation

NAICS

Executive, Legislative, and Other General Government Support (921)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

National Housing Finance Agencies & Ministries (FSALAKAB)

akta.pro secondary industries

Government-Sponsored Enterprises (GSEs) & Government Mortgage Liquidity Providers (FSALAKAC), Fair Housing, Compliance & Housing Program Oversight (FSALAKAN)

Keywords

• Housing finance regulation
• Mortgage supervision
• GSE oversight
• Federal Home Loan Banks
• Conservatorship

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure

Revenue model

1. Federal Appropriations: FHFA is funded through annual congressional appropriations as an independent federal agency, not through revenue generation

Distribution channels1 record

Marketing channels5 records

Core offering

FHFA is the independent U.S. federal regulator responsible for supervising and overseeing Fannie Mae, Freddie Mac (in conservatorship since 2008), and the 11 Federal Home Loan Banks that comprise the Federal Home Loan Bank System. The agency administers housing-mission regulatory programs, publishes flagship housing data products (House Price Index, National Mortgage Database, MIRS Transition Index), operates the Common Securitization Platform, and enforces policy initiatives such as Credit Risk Transfer, Duty to Serve, Enterprise Housing Goals, and the Suspended Counterparty Program.

Product overview

FHFA is an independent U.S. regulatory agency responsible for supervising and regulating the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Home Loan Bank System. The agency operates a portfolio of housing finance data products, regulatory programs, and oversight initiatives. Key products include the FHFA House Price Index® (HPI®) for tracking single-family home values, the National Mortgage Database (NMDB®) for mortgage research, the Common Securitization Platform enabling uniform MBS issuance, and Credit Risk Transfer programs reducing taxpayer exposure. FHFA also administers regulatory programs including the Suspended Counterparty Program, Fraud Prevention, Duty to Serve, and Enterprise Housing Goals. The agency's data infrastructure includes the MIRS Transition Index and public data dashboards. As a government regulator, FHFA does not offer commercial products or services but provides public-facing tools for housing market research, borrower assistance, and mortgage translations.

Differentiator

Problem solved

Functional benefit

Products and services

• FHFA House Price Index (HPI®) Quarterly and monthly house price index measuring changes in single-family home values across all 50 states and over 400 American cities. Distributed publicly to researchers, policymakers, financial analysts, and the general public.
• National Mortgage Database (NMDB®) Comprehensive anonymized mortgage data collection and research database supporting policy analysis and oversight of the U.S. mortgage market, with public aggregate statistics and staff working papers.
• MIRS Transition Index Replacement index for the discontinued Monthly Interest Rate Survey (MIRS) ARM Index, used by holders of outstanding adjustable-rate mortgages and by market participants tracking ARM pricing.
• FHFA Public Data Dashboards Interactive public dashboards providing housing finance data, market indicators, conforming loan limits, FHLB membership data, Duty to Serve performance data, and FHFA statistics.
• Common Securitization Platform (CSP) Shared securitization infrastructure enabling Fannie Mae and Freddie Mac to issue uniform single-family mortgage-backed securities, reducing operational complexity and improving liquidity in the TBA market.
• Credit Risk Transfer Program Program enabling Fannie Mae and Freddie Mac to transfer credit risk on purchased mortgages to private investors through structured transactions, reducing taxpayer exposure to mortgage credit losses.

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and major.

• Department of Housing and Urban Development (HUD)coreStrategic or Co-development Partner · 22 April 2026Joint announcement with HUD Secretary Scott Turner on implementing new credit score models (VantageScore 4.0 and FICO 10T) for mortgages insured by FHA and sold to Fannie Mae and Freddie Mac - the first major update to credit scoring in over three decades.
• Fannie MaecoreOthers · 6 September 2008FHFA has served as conservator of Fannie Mae since September 2008 under HERA. FHFA exercises regulatory oversight and supervises all operations of the enterprise, including oversight of its role in the $10 trillion mortgage finance system.
• Freddie MaccoreOthers · 6 September 2008FHFA has served as conservator of Freddie Mac since September 2008 under HERA. FHFA exercises regulatory oversight and supervises all operations of the enterprise, including oversight of its role in the $10 trillion mortgage finance system.
• Federal Home Loan Bank SystemcoreOthers · 30 July 2008FHFA supervises the Federal Home Loan Bank System, which includes 11 regional Federal Home Loan Banks and the Office of Finance. The FHLBanks provide liquidity to their member institutions for housing finance and community investment purposes.
• Ginnie MaemajorStrategic or Co-development PartnerGAO recommended enhanced financial monitoring of nonbank mortgage servicers. Both FHFA and Ginnie Mae agreed with recommendations and committed to develop data reliability procedures by September 30, 2026. Both agencies oversee nonbank servicers who now handle 66% of federally backed mortgages.
• Fannie MaecoreTechnology or IntegrationFannie Mae announced updates to its Selling Guide allowing immediate use of VantageScore 4.0 and future use of FICO Score 10T for loans delivered to Fannie Mae, as part of FHFA-led credit score modernization initiative.
• Freddie MaccoreTechnology or IntegrationFreddie Mac completed its first $10 million loan delivery using VantageScore 4.0, validating that alternative credit scoring models can move through the full agency pipeline from origination to securitization under FHFA's credit score modernization initiative.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Office of the Comptroller of the Currency (OCC): The OCC charters, regulates, and supervises national banks and federal savings associations. Like FHFA, it is a federal banking/credit regulator with supervisory authority over large institutions, making it a comparable U.S. financial regulatory agency.
• Federal Deposit Insurance Corporation (FDIC): FDIC insures deposits and supervises state-chartered, non-member banks. Comparable to FHFA as a federal financial regulator overseeing the safety and soundness of regulated entities critical to U.S. credit markets.
• Federal Reserve Board (FRB): The Fed supervises bank holding companies, sets monetary policy, and oversees payment system stability. Comparable to FHFA as the broader U.S. financial system regulator with overlapping influence on mortgage and credit markets.
• Consumer Financial Protection Bureau (CFPB): CFPB enforces federal consumer financial protection laws, including mortgage origination and servicing rules. Directly comparable to FHFA's regulatory role over mortgage lenders and servicers handling federally backed mortgages.
• National Credit Union Administration (NCUA): NCUA is the federal regulator for credit unions, similar in structure and mission to FHFA's oversight of the Federal Home Loan Bank System. Comparable as a small, specialized federal financial regulator with supervisory and examination authority.
• Securities and Exchange Commission (SEC): The SEC regulates securities markets, including MBS disclosure and reporting requirements. Overlaps with FHFA's regulatory scope over GSE-issued mortgage-backed securities and capital markets activity.

Direct peers

• U.S. Department of Housing and Urban Development (HUD): HUD administers FHA mortgage insurance and federal housing programs. HUD and FHFA are formal partners (e.g., joint credit score modernization announcement in 2026) and share overlapping authority over federally backed mortgage policy.
• Ginnie Mae (GNMA): Ginnie Mae guarantees MBS backed by federally insured/guaranteed loans (FHA, VA, USDA). It is a direct peer to FHFA in mission and collaborates on nonbank servicer oversight; both agencies oversee servicers handling the bulk of federally backed mortgages.
• Farm Credit Administration (FCA): FCA regulates the Farm Credit System, a network of GSE-like lending institutions. Comparable to FHFA in that both agencies oversee federally chartered, mission-driven lending networks with safety-and-soundness authority.

Regional players

• Farm Credit System Insurance Corporation (FCSIC): FCSIC insures Farm Credit System obligations and is structurally analogous to entities that FHFA oversees (the Federal Home Loan Banks, with their own Office of Finance). Comparable as a federally linked insurance/oversight entity within a GSE-style network.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/FHFA
• YouTubeyoutube.com/channel/UCoKP7Om6nsRkEav9yInFekw
• Facebookfacebook.com/FHFA
• LinkedInlinkedin.com/company/354523

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about FHFA