FHFA reports clean GAO audit for fiscal year 2025

The Federal Housing Finance Agency (FHFA)’s annual Performance and Accountability Report was published on Friday, revealing that the agency received clean audit results for fiscal year 2025 from the Government Accountability Office (GAO).

The report disclosed that the GAO did not find any “material weaknesses or unacceptable risks.” The FHFA received an unmodified audit opinion on its financial statements for a 17th consecutive year.

In its performance review, the FHFA said it met its core mission of promoting safety and soundness across the housing finance system while supporting housing affordability.

In the report‘s financial section, FHFA reported total assets of $518.4 million as of Sept. 30, 2025, with total liabilities of $319.2 million, resulting in a net position of $199.2 million. The agency said it maintained effective internal controls over financial reporting and complied with applicable laws and regulations.

During the fiscal year, FHFA incurred $180.8 million in gross program costs tied to its safety and soundness mission, which includes oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.

The agency collected $424.8 million in earned revenue through the semiannual assessment process during the fiscal year, which included a $58.5 million assessment for costs related to the operations of the FHFA’s Office of Inspector General (OIG), the report noted.

GAO performs an independent audit of the agency’s financial statements in accordance with the Housing and Economic Recovery Act of 2008.