Office of Federal Housing Oversight FAQ's from Christopher Shearer

Real Estate Broker/Owner VA #0225205135

Christopher Shearer


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: and the HUD User site at:

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

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

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:

Freddie Mac 1-800-FREDDIE or via email at:



What are the Fannie Mae and Freddie Mac Mortgage Fraud Contact Numbers?
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 for more information.

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

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Christopher Shearer is a multi-family / commercial real estate consultant achieving property owners the highest possible NOI through the implementation of optimal rents for the property, accomplished through careful market, property, comparison grid analysis, effective cost control and revenue improvement programs; identify and analyze trends and recommending appropriate strategies to increase a properties maximum efficiency. Expert at Preparing new investment analysis presentations, offering memoranda and marketing materials, including key investment metrics. IRR, COC, DCR, CR etc.

A seasoned professional, with over 15 years' experience in real estate and finance management. A real estate broker licensed in Florida and Virginia specializing in real estate and asset management of multi-family and commercial properties. Christopher is currently pursuing his M.B.A. in real estate, he holds a B.A. in business as well as an A.A. in business management. Christopher has the following state licenses; Virginia Real Estate Broker, Florida Real Estate Broker, Florida Mortgage Broker and Colorado Mortgage Broker.

Contact me for a consultation and analysis of your commercial or multi-family properties.


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