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FHFA proposes 2022-2024 housing goals
Yesterday the Federal Housing Finance Agency (FHFA) proposed updated housing goals for the government sponsored enterprises (GSEs) for 2022 to 2024. The proposed housing goals ensure that the GSEs responsibly promote equitable access to affordable housing that reaches low- and moderate-income families, minority communities, rural areas, and other underserved populations. Stakeholders are invited to comment on the proposed housing goals. The comment period will be open for 60 days after its publication in the Federal Register.
This year, FHFA proposes two new single-family home purchase subgoals to replace the existing low-income areas subgoal. One subgoal targets minority communities; the other low-income neighborhoods.
“The new subgoal for minority census tracts was designed to help preserve and support affordable housing in communities of color. The subgoal benefits families at or below area median income, allowing them to stay in the communities they helped build," wrote FHFA Acting Director Sandra L. Thompson. “The Enterprises' housing goals over the next three years should support equitable access to sustainable affordable housing opportunities in a safe and sound manner that bolsters the health of communities."