FHFA
The Federal Housing Finance Agency (FHFA) announced new proposed housing goals for Fannie Mae and Freddie Mac for 2025-2027, reaffirming their mission to purchase mortgages that “responsibly promote equitable access to affordable housing that reaches low- and moderate-income families, minority communities, and other underserved populations.”
On the single-family side, the FHFA proposes that 25% of the purchase mortgages acquired by Fannie and Freddie go to borrowers earning less than 80% area median income, a drop from the 28% required in the current housing goals.
FHFA also set a new goal for very low-income purchases (borrowers earning less than 50% AMI) at 6%, down from 7% in the current plans. The income refinance goal of 26% as proposed is unchanged, as is the purchase sub-goal for low-income census tracts at 4%. The minority census tracts home purchase goal as proposed for 2025-2027 is 12%, up from the current 10%.
Latest Posts
Shareholders sue GSEs for conservatorship investment bust
Jun 11, 2013A group of shareholders in the government-sponsored enterprises filed a complaint alleging that placing the entities into conservatorship in 2008 was illegal and as a result,…
-
FHFA-OIG magnifies GSEs REO management
May 30, 2013 -
NAFCU urges FHFA to rethink lender-placed insurance policies
May 28, 2013 -
Sen. Corker builds upon GSE reform
May 28, 2013 -
OIG urges for GSE reform to determine best course of action for housing
May 23, 2013 -
FHFA: Home prices continue climb
May 23, 2013 -
GSEs remind servicers to revisit disaster relief policies after tornado devastation
May 21, 2013 -
Up-front risk sharing will lure in private capital: MBA
May 20, 2013 -
FHFA director nomination may be pushed to back burner
May 17, 2013 -
Fannie Mae profit soars, posts largest pre-tax quarterly income to-date
May 09, 2013 -
The future of the secondary mortgage market remains foggy
May 07, 2013
