FHFA Proposes New Multifamily Housing Goals for Fannie Mae, Freddie Mac

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Contact: Michelle Kitchen
mkitchen@nahb.org
(202) 266-8352

Published

The Federal Housing Finance Agency (FHFA) has proposed new multifamily housing goals for Fannie Mae and Freddie Mac (the Enterprises) for 2023 and 2024.

Rather than measuring the multifamily housing goals based on a number of units, the proposed rule would use the percentage of each Enterprise’s annual multifamily loan acquisitions that are affordable to each income category.

Proposed Multifamily Goals (percentage share of multifamily units)

Multifamily Goals
Proposed Benchmark Level 2023-2024
Low-income Goal
 61%

Very Low-Income Subgoal   

 12%
Low-Income Small Multifamily Subgoal  
 2%

FHFA previously established benchmark levels in December 2021 for the Enterprise multifamily housing goals for 2022 only. FHFA established multifamily levels for a single year in response to market uncertainty resulting from the COVID-19 pandemic and the potential for unforeseen changes to multifamily market conditions beyond 2022. FHFA is not proposing any changes to the underlying criteria.

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