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ABA: The American Bankers Association
Compliance News

ABA Issues Staff Analysis on Fannie, Freddie Affordable Housing Goals Changes

ABA has published a members-only staff analysis on the Federal Housing Finance Agency's proposed changes to Fannie Mae and Freddie Mac’s affordable housing goals for the 2022-2024 period.

FHFA proposed to raise the goal for single-family home purchases by low-income families from 24% to 28% and the goal for very low-income families from 6% to 7%. The agency proposed to raise the goal for refinances by low-income families from 21% to 26%. 

In its analysis, ABA said that it may want to engage on the goals in a more comprehensive manner given the ongoing shortage of affordable housing, the Biden administration’s ongoing efforts to expand affordable housing and address racial inequities in housing, and the economic uncertainties caused by the ongoing pandemic. For more information, contact ABA’s Joe Pigg or Rod Alba.