FHFA Issues Housing Goals for Fannie Mae and Freddie Mac

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. For more information, email Michelle Kitchen or Becky Froass at NAHB or call Michelle at 800-368-5242 x8352 or Becky at x8529.