This annual report describes FHFA's accomplishments, as well as challenges, the agency faced in meeting the strategic goals and objectives during the past fiscal year.
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As conservator, FHFA is focused on ensuring that each Enterprise builds capital and improves its safety and soundness.
1.
Operate the business in a safe and sound manner.
2.
Promote sustainable and equitable access to affordable housing.
2023 Scorecard
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Glossaries
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FHFA establishes annual single-family and multifamily housing goals for mortgages purchased by Fannie Mae and Freddie Mac. The Enterprise Housing Goals include separate categories for single-family mortgages on housing that is affordable to low-income and very low-income families, as well as refinanced mortgages for low-income borrowers. FHFA also establishes separate annual goals for multifamily housing.
Loans that are eligible for housing goals credit are mortgages on owner-occupied housing with one to four units. The mortgages must be conventional, conforming mortgages, defined as mortgages that are not insured or guaranteed by the Federal Housing Administration or another government agency and with principal balances that do not exceed the conforming loan limits for Enterprise mortgages. This page provides data on Enterprise performance and activity related to the single-family housing goals. A full glossary of terms is provided below.
The new housing goals data tables provide insight on the racial and ethnic composition of loans acquired by the Enterprises that are eligible for housing goals credit. FHFA has provided the racial and ethnic distribution of the Enterprises' acquisitions across each of the current single-family housing goals categories.
FHFA is publishing state-level data for each single-family goal loan purchase and refinance segment. It is important to note that FHFA does not set state-level targets but only at the national level.
These tables provide the Enterprises' share in each state along with the market share, as calculated by FHFA using the 'static' HMDA data for each year to determine Enterprise housing goals performance each year. It is important to note that HMDA state-level data are impacted by the number of HMDA-exempt reporters in each state. For more information on HMDA reporting requirements, visit the CFPB HMDA Reporting Requirements page.
Data
Year
Format
2022
[XLSX]
2018-2021
[XLSX]
Glossary of Frequently Used Terms
Definition
Goal-Eligible Purchase Loans
Goal-eligible purchase loans are home purchase mortgages on owner-occupied housing with one to four units. They are conventional, conforming mortgages, defined as mortgages that are not insured or guaranteed by the Federal Housing Administration or another government agency and with principal balances that do not exceed the conforming loan limits for Enterprise mortgages.
Low-Income Purchase (LIP) Loans
Low-income purchase loans are the subset of goal-eligible purchase loans acquired by the Enterprises where borrowers had incomes no greater than 80 percent of the area median income.
Very Low-Income Purchase (VLIP) Loans
Very low-income purchase loans are the subset of goal-eligible home purchase mortgages acquired by the Enterprises where borrowers had incomes no greater than 50 percent of the area median income.
Low-Income Areas Subgoal (LIAS) Loans
Low-income areas subgoal loans are the subset of goal-eligible purchase loans made to two subgroups: a) families living in low-income census tracts; and b) families with incomes no greater that 100 percent of area median income living in minority census tracts. This subgoal was replaced by the low-income census tracts subgoal and the minority census tracts subgoal starting in 2022.
Minority Census Tracts Subgoal (MCT) Loans
Minority census tracts subgoal loans are the subset of goal-eligible purchase loans made to families with incomes no greater that 100 percent of area median income living in minority census tracts. This subgoal became effective in 2022.
Low-Income Census Tracts Subgoal (LCT) Loans
Low-income census tracts subgoal loans are the subset of goal-eligible purchase loans made to two subgroups: a) families living in low-income census tracts that are not minority census tracts; and b) families with incomes greater that 100 percent of area median income living in low-income census tracts that are also minority census tracts. This subgoal became effective in 2022.
Goal-Eligible Refinance Loans
Goal-eligible refinance loans are refinance mortgages on owner-occupied housing with one to four units. They are conventional, conforming mortgages, defined as mortgages that are not insured or guaranteed by the Federal Housing Administration or another government agency and with principal balances that do not exceed the conforming loan limits for Enterprise mortgages.
Low-Income Refinance (LIR) Loans
Low-income refinance loans are the subset of goal-eligible refinance loans acquired by the Enterprises where borrowers had incomes no greater than 80 percent of the area median income.
Minority Census Tracts
Census tracts that have a minority population of at least 30 percent and a median income of less than 100 percent of area median income.
Low-Income Census Tracts
Census tracts where the median income is no greater than 80 percent of area median income.
Minority
Minority means any individual who is included within any one or more of the following racial and ethnic categories:
(i) American Indian or Alaskan Native - a person having origins in any of the original peoples of North and South America (including Central America), and who maintains Tribal affiliation or community attachment;
(ii) Asian - a person having origins in any of the original peoples of the Far East, Southeast Asia, or the Indian subcontinent, including, for example, Cambodia, China, India, Japan, Korea, Malaysia, Pakistan, the Philippine Islands, Thailand, and Vietnam;
(iii) Black or African American - a person having origins in any of the black racial groups of Africa;
(iv) Hispanic or Latino - a person of Cuban, Mexican, Puerto Rican, South or Central American, or other Spanish culture or origin, regardless of race; and
(v) Native Hawaiian or Other Pacific Islander - a person having origins in any of the original peoples of Hawaii, Guam, Samoa, or other Pacific Islands.
The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (Safety and Soundness Act) provides for the establishment of single-family and multifamily goals each year, including a single-family purchase money mortgage goal for families residing in low-income areas. The Safety and Soundness Act defines "low-income area" for the single-family low-income areas home purchase goal as:
In addition, for the purposes of this goal, "families residing in low-income areas" also include:
A "minority census tract" is a census tract that has a minority population of at least 30 percent and a median income of less than 100 percent of the AMI. A "low-income census tract" is census tract in which the median income does not exceed 80 percent of the AMI. Designated disaster areas are identified by FHFA based on the three most recent years' declarations by the Federal Emergency Management Agency (FEMA), where individual assistance payments were authorized by FEMA.
A map of census tracts identified as minority census tracts in 2023 can be found here.
A map of census tracts identified as low-income census tracts in 2023 can be found here.
Learn more about low-income census tracts, minority census tracts, and designated disaster areas.
If you have any questions or comments about the data or documents, please email Padma Raman or Omena Ubogu.
Learn more about Enterprise Housing Goals
Last Updated: October 24, 2023
