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Fannie, Freddie Affordable Housing Goals Proposed

Posted on 9/2/2014

The Federal Housing Finance Agency on Friday proposed Fannie Mae and Freddie Mac's 2015-2017 affordable housing goals. For both enterprises, the goal for home purchases by low-income families would remain at 23 percent, and the goal for very low-income families would remain at 7 percent. The goal for home purchases in low-income areas would rise from 11 percent to 14 percent in each year, and the goal for refinances by low-income families would rise from 20 percent to 27 percent.

Meanwhile, Fannie's multifamily goals would remain the same, while Freddie's would rise from 200,000 to 230,000 units for low-income families and from 40,000 to 50,000 units for very low-income families. FHFA proposed a new goal -- small multifamily properties affordable to low-income families -- that it would set at 30,000 for Fannie and 15,000 for Freddie by 2017. Comments are due by Oct. 28.

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