What is the Federal Housing Finance Agency (Finance Agency)?
The Finance Agency, an independent federal agency in the executive branch of the U.S. government, regulates and supervises the 12 FHLBanks, the Office of Finance, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac). The Finance Agency was created on July 30, 2008, when the President signed into law the Housing and Economic Recovery Act of 2008. Previously, the FHLBanks were regulated by the Federal Housing Finance Board. With respect to the FHLBanks, the Finance Agency’s role is to ensure that the FHLBanks carry out their housing finance mission, remain adequately capitalized, are able to raise funds in the capital markets, and operate in a safe and sound manner.
