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2022–2024 Single-Family and 2022 Multifamily Enterprise Housing Goals

Open Date:
Open for comment
Deadline:
All comments are due by
Type:
Final Rule
Number:
RIN-2590-AB12
Group:
Mortgage; Fannie Mae; Freddie Mac
Fannie Mae; Freddie Mac
Document Number:
 
CFR:
12 CFR Part 1282
CFR Description:
Enterprise Housing Goals and Mission
Federal Register Publish Date:
View Document:
 
Contact Information:

FOR FURTHER INFORMATION CONTACT:  Ted Wartell, Associate Director, Housing & Community Investment, Division of Housing Mission and Goals, (202) 649-3157, Ted.Wartell@fhfa.gov; Padmasini Raman, Supervisory Policy Analyst, Housing & Community Investment, Division of Housing Mission and Goals, (202) 649-3633, Padmasini.Raman@fhfa.gov; Kevin Sheehan, Associate General Counsel, Office of General Counsel, (202) 649-3086, Kevin.Sheehan@fhfa.gov; or Marshall Adam Pecsek, Assistant General Counsel, (202) 649-3380, Marshall.Pecsek@fhfa.gov.  These are not toll-free numbers.  The mailing address is:  Federal Housing Finance Agency, 400 Seventh Street, SW., Washington, DC 20219.  For TTY/TRS users with hearing and speech disabilities, dial 711 and ask to be connected to any of the contact numbers above.

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SUMMARY:  The Federal Housing Finance Agency (FHFA) is issuing a final rule on the single-family housing goals for Fannie Mae and Freddie Mac for 2022 through 2024, as well as the multifamily housing goals for 2022.  The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 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 single-family housing goals and subgoals for 2022 through 2024.  The final rule also replaces the low-income areas subgoal with separate area-based subgoals targeting the individual components of the low-income areas subgoal (minority census tracts and low-income census tracts).  The final rule establishes the multifamily housing goals for 2022 only.  For the small low-income multifamily subgoal, the final rule establishes separate benchmarks for Fannie Mae and Freddie Mac.  Finally, the final rule makes several technical changes to definitions and other provisions to conform the regulation to existing practice.

DATES:  The final rule will become effective on February 28, 2022​.

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