Office of Federal Housing Enterprise Oversight

OFHEO FAQs

What is OFHEO’s mission?
OFHEO's mission is to promote housing and a strong national housing
finance system by ensuring the safety and soundness of Fannie Mae (Federal
National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage
Corporation).

How is oversight of Fannie Mae and Freddie Mac divided between OFHEO and
HUD?
The Federal Housing Enterprises Financial Safety and Soundness Act of
1992 created a regulatory oversight structure for the housing
government-sponsored enterprises of Fannie Mae and Freddie Mac. The regulatory
oversight was divided to address two functions – their financial safety and
soundness and their affordable housing mission. The financial safety and
soundness regulation is vested in the Office of Federal Housing Enterprise
Oversight (OFHEO). OFHEO implements, monitors and enforces capital standards for
Freddie Mac and Fannie Mae.

The U.S. Department of Housing and Urban Development (HUD) carries the oversight
responsibilities for the housing mission of the GSEs. Effective January 1, 2005,
HUD established new and increasing affordable housing goal levels for the GSEs
for the years 2005 through 2008. These goals require that a certain percentage
of the mortgages purchased by Fannie Mae and Freddie Mac support financing for
housing low – and moderate – income families. (see HUD for more information at:

http://www.hud.gov/offices/hsg/gse/gse.cfm and the HUD User site at:

http://www.huduser.org/datasets/gse.html)

What is the current conforming loan limit?
Fannie Mae and Freddie Mac's loan limits adjust every year in
accordance with the results -- as determined by Office of Federal Housing
Enterprise Oversight (OFHEO) -- of a national survey of average home prices. The
conforming loan limits adjustments are based on the October-to-October changes
in the average price of a one-family home, as published by the Federal Housing
Finance Board (FHFB).
See OFHEO
page on conforming loan limits for more information.

What is the OFHEO House Price Index (HPI)?
See the House
Price Index page for information on the House Price Index.

How do I calculate the value of my home using OFHEO’s House Price Index?

You can estimate the current value of your home using
OFHEO's HPI calculator.
You can also use the downloadable HPI index data to estimate appreciation rates
to then calculate your home's estimated value.

Where can I get a copy of the Report of Special Examination of Fannie Mae or Freddie Mac?
Go to
Special
Examination Report page on OFHEO.gov.

Where can I get the latest data on Fannie Mae? Freddie Mac?
For data compiled by OFHEO see OFHEO page on
Research and
Analysis.
For information from

Fannie Mae or

Freddie Mac see their respective websites.

I have a problem with my lender. Can OFHEO help?
No. OFHEO is the safety and soundness regulator of Fannie Mae and
Freddie Mac. Although your home loan may be sold to Fannie Mae or Freddie Mac
OFHEO does not handle issues regarding your lender.

I am in foreclosure and need information on my loan. What can OFHEO do?

OFHEO does not provide information on individual loans. More information is
available from the Department of Housing and Urban Development at

http://www.hud.gov/foreclosure/.

I have a question regarding my closing costs on my house, who should I
contact at OFHEO?
OFHEO does not provide information on closing costs. The Real Estate
Settlement Procedures Act (RESPA) requires lenders to give you information on
all closing costs and escrow account practices. Any business relationships
between the lender and closing service providers or other parties to the
transaction must also be disclosed. More information is available from the

Federal Trade Commission, the

Federal Reserve Board, and the

Department of Housing and Urban Development.

How do I contact Fannie Mae and/or Freddie Mac?
Fannie Mae Resource Center at 1-800-732-6643 or via email at:

http://www.fanniemae.com/contact/index.jhtml?p=Contact+Us

Freddie Mac 1-800-FREDDIE or via email at: http://www.freddiemac.com/corporate/about/contactus.htm

What are the Fannie Mae and Freddie Mac Mortgage Fraud Contact Numbers?
FANNIE MAE CONSUMER RESOURCE CENTER 1-800-7 FANNIE
FREDDIE MAC FRAUD HOTLINE 800-437-2838 or 800-4 FRAUD 8

Where can I report suspected mortgage fraud?
See the

mortgage fraud page on OFHEO.gov for more information.

Who do I contact to complain about business practices of the GSEs?
See the
Contact OFHEO page.