Fannie Mae Exceeds All Lending Goals for 2000MortgagePress.comFannie Mae, U.S. Department of Housing and Urban Development, goals
Fannie Mae announced that it has exceeded all of its statutory
and corporate lending goals in 2000. Regulatory guidelines call for
Fannie Mae to follow percentage-of-business housing goals, overseen
by the U.S. Department of Housing and Urban Development.
Preliminary information for Fannie Mae's business activity in
2000 shows that:
++low- and moderate-income households (those with incomes less
than or equal to 100 percent of an area's median income)
represented more than 49 percent of the units the company financed,
exceeding the HUD-regulated goal of 42 percent for the year;
++underserved areas accounted for approximately 31 percent of
the units that Fannie Mae financed, the company's HUD-regulated
goal was 24 percent for the year; and
++special affordable housing (low- and very low-income
households living in both single- and multi-family residences)
accounted for 22 percent of total units financed in 2000, exceeding
the goal of 14 percent. Fannie Mae delivered $3.8 billion in
multi-family special affordable financing against a minimum goal of
In addressing HUD's percentage-of-business goals for 2000, the
company reported that of low- and moderate-income units financed by
Fannie Mae last year, 72 percent went to those with incomes at or
below 80 percent of their area's median income, 36 percent went to
those with incomes between 60 and 80 percent of the median, and
another 36 percent went to those with incomes at or below 60
percent of the median.
HUD announced in October of 2000 that Fannie Mae's
percentage-of-business housing goals for 2001 would be as follows:
of total units financed, 50 percent of the units would be for low-
and moderate-income households; 31 percent in underserved areas;
and 20 percent for special affordable housing, with a multi-family
minimum goal of $2.85 billion.
For more information, visit www.fanniemae.com.