FHFA’s new housing goals for Fannie Mae and Freddie Mac are an important step towards increasing liquidity of the affordable housing mortgage market. They will significantly improve the impact Fannie Mae and Freddie Mac have on home mortgage lenders’ ability to increase homeownership opportunities to historically underserved communities. They are also well within historic risk levels to ensure the Enterprises operate safely and soundly while protecting homebuyers from taking irresponsible risks.
For any goal to accurately assess performance, it must establish historic benchmarks. FHFA should require Fannie Mae and Freddie Mac to publicly disclose the volume of individual loans by race, as well as income, and report on past performance under the new goals from 2018-2021.
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About NHC: The National Housing Conference is a diverse continuum of affordable housing stakeholders that convene and collaborate through dialogue, advocacy, research, and education, to develop equitable solutions that serve our common interest.