7.20.20
On Monday, July 20, the Federal Housing Finance Agency (FHFA) released their 2021 proposed housing goals for Fannie Mae and Freddie Mac. The FHFA notes that because of the COVID-19 pandemic, they will only be releasing their proposed housing goals for 2021 and those benchmarks will remain unchanged from the 2018 – 2020 benchmarks. For single-family housing, 24% of the mortgages that the GSEs purchase must come from low-income homes and 6% from very low-income homes. For multifamily housing, 315,000 of the units must be affordable for low-income families and 60,000 units must be affordable for very low-income families.