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2015-2017 Enterprise Housing Goals Final Rule

Open Date:
Open for comment
All comments are due by
Final Rule
Fannie Mae; Freddie Mac
Document Number:
12 CFR 1282
CFR Description:
Enterprise Housing Goals and Mission
Federal Register Publish Date:
View Document:
/SupervisionRegulation/Rules/RuleDocuments/2015-2017_Enterp_Housing_Goals_Final_Rule_to_Fed_Reg_FOR_WEB.pdf|756.05 KB;
Contact Information:

​Ted Wartell, Manager, Housing & Community Investment, Division of Housing Mission and Goals, at (202) 649-3157.  This is not a toll-free number.  The mailing address is:  Federal Housing Finance Agency, 400 Seventh Street, SW., Washington, DC 20024.  If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.

Related Documents:
/SupervisionRegulation/Rules/RuleDocuments/2015-2017_Enterp_Housing_Goals_Final_Rule_Market_Estimation.pdf|2.49 MB;

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​SUMMARYThe Federal Housing Finance Agency (FHFA) is issuing a final rule regarding the housing goals for Fannie Mae and Freddie Mac (the Enterprises) for 2015 through 2017.  The Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended (the Safety and Soundness Act), requires FHFA to establish annual housing goals for mortgages purchased by the Enterprises.  The housing goals include separate categories for single-family and multifamily mortgages on housing that is affordable to low-income and very low-income families, among other categories.

The final rule establishes the benchmark levels for each of the housing goals and subgoals for 2015 through 2017.  In addition, the final rule establishes a new housing subgoal for small multifamily properties affordable to low-income families.

The final rule also adds or revises a number of other provisions in the housing goals regulation in order to provide greater clarity about the mortgages that will qualify for the goals or subgoals.  In addition, the final rule makes a number of clarifying and conforming changes, including revisions to the definitions of "rent" and "utilities" and to the rules for determining affordability of both single-family and multifamily units.  The final rule also establishes more transparent agency procedures for FHFA guidance on the housing goals.

FHFA also discusses here its plans to require more detailed Enterprise reporting to FHFA on the Enterprises' purchases of mortgages on single-family rental housing.

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