The Federal Housing Finance Agency (FHFA) has established new affordable housing goals for Fannie Mae and Freddie Mac, aimed at ensuring equitable access to housing for low-income families.
According to FHFA Director Sandra Thompson, the goals are essential for the Enterprises to effectively advance their missions and support safe housing finance markets.
There are specific benchmarks set for loan purchases, including 25% of mortgages for borrowers earning below 80% of area median income, down from 28%.
The goals include measurement buffers which determine action if either GSE fails to meet its targets, requiring the development of a housing improvement plan.
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