FHFA Proposes Same Housing Goals for Fannie, Freddie in 2021 Due to Pandemic

Monday, July 20, 2020 - 9:30am

The Federal Housing Finance Agency (FHFA) today released a proposed rule with the same housing goals for 2021 for Fannie Mae and Freddie Mac as for 2018-2020. Due to the economic uncertainty related to the COVID-19 pandemic, the FHFA proposed goals for 2021 only, rather than the normal three-year period. The FHFA proposes to purchase mortgages or multifamily properties for properties totaling 315,000 low-income units. The sub-goal for very low-income properties is 60,000 units and the sub-goal for small low-income properties (five to 50 units) is 10,000 units. The FHFA will accept comments on the proposed rule for 60 days after the proposal is published in the Federal Register.