FHFA Announces Updated Equitable Housing Finance Plans for Fannie Mae and Freddie Mac

The Federal Housing Finance Agency (FHFA) announced updates to Fannie Mae and Freddie Mac’s (the Enterprises) Equitable Housing Finance Plans for 2023. Updates to the Enterprises’ 2022-2024 Plans include, but are not limited to:

Inclusion of the Latino Housing Journey and actions to remove barriers experienced by Latino renters and homeowners in Fannie Mae’s plan;
Enhanced focus on ensuring existing borrowers receive fair loss mitigation support and outcomes through monitoring and developing strategies to close any gaps;
Provision of financial capabilities coaching to build credit and savings;
Support for locally owned modular construction facilities in communities of color; and
Increases to the reach of Enterprise Special Purpose Credit Programs to support homeownership attainment and housing sustainability in underserved communities.

In addition, the Enterprises each released performance reports that outlined their progress under their Equitable Housing Finance Plans during 2022 and actions they are taking to advance equity in their automated underwriting systems, such as the inclusion of rental payments and cash flow underwriting and the use of advanced statistical techniques to improve model fairness. Read the Fannie report here and the Freddie report here.

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).