Fannie, Freddie May Acquire up to $78 Billion in Multifamily Loans in 2022

The Federal Housing Finance Agency (FHFA) announced the multifamily loan acquisition volume caps for the GSEs in 2022. Fannie Mae and Freddie Mac (the Enterprises) will be $78 billion for each Enterprise, for a combined total of $156 billion to support the multifamily market. The 2022 caps, which increased from $70 billion for each Enterprise in 2021, are based on FHFA’s projections of the overall growth of the multifamily originations market. Some highlights from the release:

At least 50 percent of the Enterprises’ multifamily business be mission-driven affordable housing. This is the same as the 2021 requirement.
The percentage of units that must come from units affordable to residents at 60 percent area median income (AMI) or below has increased from 20 to 25 percent.
FHFA has changed certain definitions of multifamily “mission-driven” affordable housing to include loans on affordable units in cost-burdened rental markets and loans to finance energy or water efficiency improvements with units affordable at or below 60 percent of AMI.

FHFA has indicated that they will continue to monitor the impact of COVID-19 on the multifamily mortgage market and may adjust the multifamily caps if warranted, but to prevent market disruption, will not reduce them.

HUD Releases HOME Monthly Reports

HUD has announced that the latest HOME Monthly Reports, as of November 30, 2024, are now available. Why it matters: These reports are crucial for Participating Jurisdictions (PJs) to effectively track and manage their housing initiatives. Details: The bottom line: These reports empower PJs to optimize their housing strategies, ensuring effective use of resources and […]

Ginnie Mae’s FY24 Annual Financial Report

Ginnie Mae has released its Fiscal Year 2024 (FY24) Annual Financial Report, and the numbers and initiatives are making an impact. Here are a few key takeaways:

Workforce Housing Debt Financing Updates

The northeast regional affordable housing community had the opportunity to receive an update on agency executions for workforce housing from PGIM’s Michael Lostocco at the NH&RA Fall Developers Forum. Fannie Mae and Freddie Mac have developed voluntary programs aimed at addressing housing affordability, particularly for middle-income renters.

FHFA Unveils Enterprises’ Three-Year Plans to Improve Housing Opportunities for the Underserved

Fannie Mae and Freddie Mac (the Enterprises) will seek to extend housing access in rural underserved markets, enhance their support for manufactured housing and continue addressing liquidity needs for first-time homebuyers, among a host of activities outlined in plans published by the Federal Housing Finance Agency (FHFA).