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FHFA Proposes New Methodology, New Targets for Fannie, Freddie Multifamily Housing Goals

Tuesday, August 16, 2022 - 1:00PM

The Federal Housing Finance Agency (FHFA) published in today’s Federal Register a new methodology and new benchmark levels for multifamily housing goals for Fannie Mae and Freddie Mac for 2023 and 2024. The proposed rule would set a percentage of Fannie and Freddie’s annual multifamily loan acquisitions to be affordable to each of three different categories. The low-income goal would be 61%, very-low-income subgoal would be 12% and the low-income small multifamily subgoal would be 2%. Previously, the FHFA set unit numerical targets for multifamily housing goals. The FHFA in December 2021 proposed benchmark levels for only 2022, due to market uncertainty resulting from the COVID-19 pandemic. Comments will be accepted on the proposed rule through Oct. 17.

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