FHFA — Homeowner Resources
The Federal Housing Finance Agency (FHFA) is the independent federal agency that regulates and supervises Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. For homeowners, FHFA matters because
About FHFA
The Federal Housing Finance Agency (FHFA) is the independent federal agency that regulates and supervises Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. For homeowners, FHFA matters because it sets policy direction for the GSEs, approves major program changes (including foreclosure prevention and loss mitigation programs), established the GSE Flex Modification program, and can require the GSEs to implement specific homeowner protections. FHFA also maintains an Office of the Ombudsman that handles complaints about Fannie Mae and Freddie Mac servicing issues. During the COVID-19 pandemic, FHFA directed Fannie Mae and Freddie Mac to implement foreclosure moratoriums and expanded forbearance options — demonstrating the agency's direct impact on homeowner protections.
Website
www.fhfa.govJurisdiction
National — regulatory authority over Fannie Mae, Freddie Mac, and the Federal Home Loan Banks
Key Programs & Protections
FHFA regulates Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System. It sets policy, approves programs, examines the GSEs for safety and soundness, and can direct the GSEs to implement specific homeowner protections or program changes. FHFA is the ultimate authority over GSE servicing and loss mitigation policy.
Flex Modification (GSE Joint Program)
FHFA directed Fannie Mae and Freddie Mac to create the unified Flex Modification program, which replaced their separate HAMP-era modification programs. The Flex Modification reduces payments through a standardized waterfall and applies to both GSEs. This is the primary modification option for conventional loans owned by Fannie or Freddie.
FHFA Foreclosure Prevention Policies
FHFA has authority to direct the GSEs to implement temporary foreclosure prevention measures, including foreclosure moratoriums, forbearance programs, and expanded modification eligibility. FHFA exercised this authority extensively during COVID-19 and natural disasters.
FHFA Office of the Ombudsman
An independent office within FHFA that assists homeowners who have unresolved complaints about Fannie Mae or Freddie Mac loans. The Ombudsman can investigate servicer complaints, mediate disputes, and recommend corrective action when servicers fail to follow GSE guidelines.
Duty to Serve Program
FHFA requires the GSEs to serve underserved markets including rural areas, manufactured housing, and affordable housing preservation. This program can create additional loss mitigation flexibilities for borrowers in underserved areas.
How to File a Complaint
FHFA's Office of the Ombudsman handles escalated complaints about Fannie Mae and Freddie Mac servicing when the borrower has already attempted resolution with the servicer and the GSE. The Ombudsman does not handle complaints about other loan types (FHA, VA, USDA, private). File complaints by email, phone (1-202-649-3811), or mail. Provide: loan number, servicer name, GSE ownership confirmation (from Loan Lookup), summary of prior resolution attempts, and supporting documentation. The Ombudsman typically responds within 30 days.
Enforcement Actions
FHFA has broad enforcement authority over the GSEs including: cease-and-desist orders, civil money penalties (tiered up to $2M+ per violation per day), removal and prohibition orders against individuals, and conservatorship/ receivership powers. FHFA can also require the GSEs to take specific corrective actions regarding servicing practices. While FHFA primarily regulates the GSEs (not individual servicers), its policy directives shape servicing standards across the entire conventional mortgage market.
Homeowner Resources
- •FHFA Office of the Ombudsman: fhfa.gov/Ombudsman — for unresolved Fannie/Freddie servicing complaints
- •FHFA Foreclosure Prevention Resource Center: fhfa.gov/consumers
- •FHFA House Price Index: tracks home values — useful context for your foreclosure situation
- •FHFA Strategic Plan: insight into future GSE servicing policy direction
- •FHFA Report to Congress: annual performance and policy reports
Frequently Asked Questions
Can FHFA help me with my individual foreclosure?▼
How does FHFA affect my loan modification options?▼
Need Help Navigating FHFA Programs?
Understanding your rights with FHFA is critical — but applying them to your situation takes expertise. Professional Law Assist knows how to leverage FHFA programs and protections to build the strongest possible defense. Get a free case review and learn exactly how FHFA's rules apply to your foreclosure.
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