The Federal Housing Finance Agency (FHFA) is committed to careful fair lending, fair housing, and unfair or deceptive acts or practices (UDAP) oversight of the regulated entities. Fair lending is central to the principles under which the U.S. housing finance system operates and is a requirement of law. FHFA will never tolerate illegal discrimination by the regulated entities.
We want to hear from you. Questions and feedback on FHFA’s fair lending, fair housing, and consumer protection oversight can be directed to FairLending@fhfa.gov.
Resources
- Regulation on Fair Lending, Fair Housing, and Equitable Housing Finance Plans (12 CFR Part 1293)
- FHFA Policy Statement on Fair Lending (July 2021) – The Policy Statement communicates FHFA's commitment to comprehensive fair lending oversight of the regulated entities and provides a foundation for building out FHFA's fair lending program.
- Memorandum of Understanding with the Department of Housing and Urban Development (HUD) (August 2021) – The MOU sets out a framework to enhance both Agencies' enforcement of the Fair Housing Act. The MOU is an important mechanism that strengthens the Agencies' ability to enforce fair housing and fair lending requirements, by promoting information sharing, coordination on investigations, compliance reviews, and the ongoing monitoring of the Enterprises.
- Statement on Special Purpose Credit Programs as a Remedy for Disparities in Access to Homeownership (December 2021)
- Interagency Statement on Special Purpose Credit Programs (February 2022)
- FHFA's Language Access Policy
FHFA also announces policy updates and clarifications on the regulated entities' programs, products, and activities.
- HUD and FHFA Announce Clarifications to Freddie Mac's Policies on Purchasing Mortgages Secured by Group Homes (September 2021)
Fair Lending Insights
FHFA staff contribute to FHFA's Insights Blog by providing commentary on new developments impacting fair lending, fair housing, and consumer protection.
- Celebrating Fair Housing Month: Honoring Progress and Commitment (April 2024)
- Understanding the Climate’s Impact on Vulnerable Populations (November 2023)
- Asian Americans, Native Hawaiians, and Pacific Islanders: Visible Together (May 2023)
- Reducing Valuation Bias by Addressing Appraiser and Property Valuation Commentary (December 2021)
- Land Use Regulation and Enterprise Market Share Across Cities (October 2021)
- Latino Diversity and Complexity: The Importance of Data Disaggregation (September 2021)
Data and Reporting
FHFA monitors fair lending data and risk presented by regulated entity activities. Our Fair Lending Data page presents information on single-family automated underwriting system applications and loans acquired by the Enterprises subset by race and ethnicity, as well as primary market lender aggregate approval rates subset by race and ethnicity. Information on our data methodology and definitions is located on the Data Notes section of the dashboard.
Fair Lending Reporting Orders
FHFA has also issued Orders on Fair Lending Reporting to the Enterprises. The orders require the Enterprises to submit quarterly reports to FHFA with fair lending information and data to improve the Agency's fair lending supervision and monitoring capabilities.
Supervision Program
FHFA’s fair lending oversight program is committed to effective, appropriately tailored supervisory measures to ensure that the regulated entities adhere to applicable fair lending compliance standards. FHFA has broad statutory authority to supervise the regulated entities, including authority to monitor and gather information, conduct supervisory examinations, and enforce compliance with law where appropriate. FHFA as a supervisor monitors regulated entities for fair lending risk, conducts supervisory examinations, and, when necessary, takes enforcement action to ensure compliance with fair lending laws.
Guidance
- AB 2021-04: Enterprise Fair Lending and Fair Housing Compliance
- AB 2023-05: Enterprise Fair Lending and Fair Housing Rating System
Mortgage Interest Rate Disparity (MIRD) Program
FHFA’s statute provides for a program to assess whether loan pricing by lenders results in disparities for minority borrowers compared with non-minority borrowers of similar creditworthiness. If FHFA makes a preliminary finding that a pattern of disparities exists for a lender, FHFA must refer that finding to the appropriate regulatory or enforcement agency for further review.
In 2021, FHFA finalized its policy approach and began referring its preliminary findings to regulatory or enforcement agencies with jurisdiction to conduct examinations or investigations into potential pricing discrimination.
Page Last Updated: April 30, 2024