The Federal Housing Finance Agency (FHFA) has proposed its 2021 housing goals for Fannie Mae and Freddie Mac.
Due to the economic uncertainty related to the COVID-19 national pandemic, FHFA is proposing benchmarks for calendar year 2021 only, and those levels will remain the same as they were for 2018-2020. Once finalized, the proposed benchmark levels would extend those benchmarks that are currently set to expire on Dec. 31, 2020.
The 2021 single-family benchmarks are as follows:
- Low-income home purchase goal: 24%
- Very low-income home purchase goal: 6%
- Low-income areas home purchase subgoal: 14%
- Low-income refinance goal: 21%
The 2021 multifamily benchmarks are as follows:
- Low-income goal: 315,000 units
- Very low-income subgoal: 60,000 units
- Small multifamily low-income subgoal: 10,000 units
FHFA has asked interested parties to submit comments on the proposed rule to the Federal Register within 60 days.