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
HPC urges regulators to align nonbank servicer standards
Jan 05, 2021The Housing Policy Council issued a comment on the Conference of State Bank Supervisors’ new proposed standards for nonbank mortgage servicers. In its comments, HPC suggests that regulators need to align on the issues in order to avoid disruption.
-
What the signed stimulus bill means for housing
Dec 28, 2020 -
Will hybrid appraisals become the new normal?
Dec 28, 2020 -
FHFA announces proposed rule on living wills for GSEs
Dec 22, 2020 -
Black Knight’s Walden on mortgage delinquencies in 2021
Dec 18, 2020 -
FHFA proposes liquidity requirements for GSEs
Dec 17, 2020 -
FHFA extends GSEs’ affordable housing goals through 2021
Dec 16, 2020 -
FHFA’s 2019 g-fees report shows average increase of 1 basis point
Dec 14, 2020 -
Credit risk transfers are key to GSEs’ exit strategy
Dec 10, 2020 -
Supreme Court hears arguments on FHFA structure
Dec 09, 2020 -
Sagent’s Matt Tully talks housing regulation under the Biden administration
Dec 08, 2020 -
FHFA extends foreclosure and eviction moratorium to Jan. 31
Dec 02, 2020
