Federal Housing Finance Agency (FHFA)
Buy American Act Report for
Fiscal Year 2008

1. The Dollar Value of Any Articles, Materials, or Supplies Purchased that were Manufactured Outside of the United States: $0

2. An Itemized List of All Waivers Granted with Respect to Such Articles, Materials, or Supplies under the Buy American Act: No waivers were granted.

This report describes the Federal Housing Finance Agency’s compliance with the Plain Writing Act of 2010 (Act).

​Executive Summary

During the recent economic downturn, lower income families experienced significant losses of personal wealth at the same time that the nation’s supply of affordable housing units decreased. Despite the challenging times, the Federal Home Loan Banks (Banks), through their affordable housing and community development programs, continued to serve lower income households.

Section 1324 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (Safety and Soundness Act), as amended by section 1125 of the Housing and Economic Recovery Act of 2008 (HERA), requires the Federal Housing Finance Agency (FHFA) to submit annually to Congress a report (Annual Housing Report) on the housing activities of the Federal National Mortgage Association (Fannie Mae) and​​ the Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, Enterprises).

​This report analyzes trends in Fannie Mae and Freddie Mac mortgage delinquencies and the level of assistance offered to homeowners who are in danger of foreclosure. The content of the report include delinquency status of the single family book, foreclosure prevention / loss mitigation actions, performance of modified loans, and foreclosure starts and foreclosure sales.​

​Section 1324 of the Federal Housing Enterprises Fin​ancial Safety and Soundness Act of 1992 (Safety and Soundness Act), as amended by section 1125 of the Housing and Economic Recovery Act of 2008 (HERA), requires the Federal Housing Finance Agency (FHFA) to submit annually to Congress a report on the housing activities of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (known as the Enterprises).

​Section 1324 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by section 1125 of the Housing and Economic Recovery Act of2008 (HERA), requires the Federal Housing Finance Agency (FHFA) to report on the housing activities of Fannie Mae and Freddie Mac, known as the ​Enterprises. FHFA must report no later than October 30 each year to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives.

​Section 1324 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (Safety and Soundness Act), as amended by section 1125 of the Housing and Economic Recovery Act of 2008 (HERA), requires the F​ederal Housing Finance Agency (FHFA) to report on the housing activities of Fannie Mae and Freddie Mac, known as the Enterprises. FHFA must report no later than October 30 each year to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives.

​Section 1601 of the Housing and Economic Recovery Act of 2008 (HERA) requires the Federal Housing Finance Agency (FHFA) to conduct an ongoing study of the guarantee fees charged by Fannie Mae and Freddie Mac and to submit annual reports to Congress, based on aggregated data collected from the Enterprises​​, regarding the amount of such fees and the criteria used by the Enterprises to determine them.

Section 1601 of the Housing and Economic Recovery Act of 2008 (HERA) requires the Federal Housing Finance Agency (FHFA) to conduct an ongoing study of the guarantee fees charged by Fannie Mae and Freddie Mac and to submit annual reports to Congress, based on aggregated data collected from the Enterprises, regarding the amount of such fees and the criteria used by the Enterprises to determine them.