FHFA Establishes Housing Goals for Next Two Years
The Federal Housing Finance Agency (FHFA) has published a final rule establishing Fannie Mae and Freddie Mac’s new single-family and multifamily housing goals for 2018 through 2020.
The single-family housing goals remain unchanged, with the FHFA mandating Fannie Mae and Freddie Mac to a benchmark level of 24 percent for low-income home purchases, six percent for very low-income home purchases, 14 percent for low-income areas home purchase sub-goals and 21 percent for overall low-income refinancings.
For multifamily housing goals, the FHFA established a low-income goal of 315,000 units, up from the 300,000 for the 2015-2017 benchmark level period. The very low-income sub-goal is 60,000 units, the same as the 2015-2017 period, while the Small Multifamily low-income sub-goal is 10,000 units, unchanged from 2017 but higher than the 8,000 level in in 2016 and 6,000 in 2015.