We are proud to support the U.S. housing market and historically underserved portions of the U.S. housing market. By providing private capital to the housing market through our investments in residential mortgages, including mortgages that are typically disfavored by loan originators in today’s market, we play a meaningful role in helping Americans purchase homes for their families. The social benefits of homeownership are well-documented, and U.S. housing policy has traditionally sought to increase homeownership. Homeownership has historically been viewed as an accessible vehicle for individual wealth creation, and increased homeownership within communities has long been considered a stabilizing agent, as homeowners are typically more engaged in their local communities as a result of their significant personal investment in the community through their homeownership. A recent domestic public policy goal has been to increase the role of private capital in the U.S. housing market, and AGNC is poised to continue to play a large and important role in any domestic housing reform initiative. We are confident that private capital will remain a pillar of the U.S. housing market and, in turn, the broader U.S. economy.
$90 Billion1 Mortgage and Mortgage Related Investments
$46 Billion1 Lower Balance and High LTV/HARP Loans2
1) As of December 31, 2018.
2) Lower balance loans or high loan-to-value (LTV) loans, including those originated under the Home Affordable Refinance Program (HARP) program. We define lower balance loans as pools of mortgages backed by loans with original balances of up to $150,000, a relatively underserved stratum of the market, as mortgage originators are typically compensated based upon loan size and thus prioritize higher balance opportunities. The U.S. HARP program was implemented in 2009 to facilitate mortgage refinancing for homeowners that experienced a home value decline in connection with the 2008 recession and were otherwise unable to refinance.