WASHINGTON (11/2/15)--Fannie Mae and Freddie Mac acquired $584 billion of loans on single-family owner-occupied housing and provided funding for 738,466 multifamily rental units in 2014, according to the annual housing report released last week by the Federal Housing Finance Agency (FHFA). The annual report includes information on Fannie and Freddie’s performance under their statutory annual housing goals in 2014.
Fannie and Freddie’s statutory goals include low-income home purchases; very low-income home purchases; low-income areas home purchases; low-income purchases subgoals; and a low-income refinance goal.
According to the report, Fannie achieved all of its single-family goals, while Freddie did not meet the low-income home purchase goal, or the very low-income home purchase goal.
Both Fannie and Freddie exceeded their multifamily goals for both low-income (family incomes no greater than 80 percent of area median income), and very low-income (family incomes no greater than 50 percent of area median income) housing.
The report also contains characteristics of mortgage purchased by Fannie and Freddie, as determined by FHFA analysis of Home Mortgage Disclosure Act data.
According to the FHFA, it is currently developing a proposed rule concerning Fannie and Freddie’s duty to serve underserved markets.