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
Senate green lights full vote on Mel Watt FHFA nomination
Dec 10, 2013The U.S. Senate held a procedural vote on Mel Watt’s nomination to lead the Federal Housing Finance Agency this morning. A full vote and his official confirmation could come as early as this afternoon.
-
National MI provides rescission relief after 12 months
Dec 10, 2013 -
G-fee hikes: DeMarcoÕ last attempt to stimulate private capital
Dec 10, 2013 -
Fannie and Freddie to raise G-fees
Dec 09, 2013 -
HW 30 rises amid stronger economic data
Dec 09, 2013 -
Eventful week will see FHFA confirmation, Volcker Rule release
Dec 09, 2013 -
ACLU files eminent domain FOIA against FHFA
Dec 06, 2013 -
Watt FHFA confirmation is right around the corner
Dec 06, 2013 -
Lack of confidence weighs on housing
Dec 02, 2013 -
FHFA revamps master insurance policies for Fannie, Freddie
Dec 02, 2013 -
Conforming loan limit remains at $417,000 for 2014
Nov 26, 2013 -
Housing market reports reveal a mixed bag of results
Nov 26, 2013
