FHFA is the federal regulator of the nation's main housing-finance institutions: Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks. It supervises their safety and soundness to keep the secondary mortgage market and home-loan funding stable. It has also served as conservator of Fannie Mae and Freddie Mac since 2008.
Created by Congress under the Housing and Economic Recovery Act of 2008 (HERA), Division A, Title I (Federal Housing Finance Regulatory Reform Act of 2008) (Pub. L. 110-289, 122 Stat. 2654; codified at 12 U.S.C. Sec. 4511 et seq.), it acts within the authority that statute grants. Its actions are subject to judicial review and to congressional oversight and funding.
