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FHFA PROPOSES HOUSING GOALS FOR FANNIE, FREDDIE

Wednesday, February 17, 2010 - 8:00AM

The Federal Housing Finance Agency (FHFA) sent a proposed rule to the Federal Register establishing new housing goals for government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The Housing and Economic Recovery Act of 2008 (HERA) gave FHFA authority for establishing housing goals for the GSEs. Pursuant to HERA, FHFA is proposing separate goals for GSE purchases of multifamily mortgages. Specifically, FHFA proposes multifamily goals for low-income families and for very low-income families, both expressed in terms of minimum numbers of units financed. The proposed rule will be open for public comment for 45 days from the date of its publication in the Federal Register; click here for an advance copy of the notice. Additionally, FHFA says it intends to issue two related proposed rules in the near future regarding affordable housing goals for the Federal Home Loan Banks and the GSEs duty to serve rule.

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