The Federal Housing Finance Agency (FHFA) released its inaugural report this week Mission report describing how Fannie Mae, Freddie Mac and the Federal Home Loan Banks succeeded in 2021 in providing greater access to finance for targeted economic development and affordable, equitable and sustainable housing.

As part of its oversight of regulated entities, FHFA said it makes sure to focus on mission-driven activities to provide liquidity, stability, and affordability to the mortgage market through:

• Corporate programs and initiatives, including Housing Goals, Duty to Serve (DTS), Fair Lending, and Conservation Dashboard; and
• FHL Bank programs including Affordable Housing Program (AHP) and Community Investment Program (CIP).

FHL banks also provide funds to support targeted economic development loans by their member financial institutions through their CIP and Community Investment Cash Advance (CICA) programs.

“FHFA is committed to promoting affordability, equity and sustainability in national housing finance markets,” said FHFA Director Sandra L. Thompson. “Our regulated entities have made progress in many mission-driven areas, and we will continue to improve affordable housing. opportunities to support landlords and tenants. »

​Highlights from the 2021 Mission Report include:

• Fannie Mae & Freddie Mac (the Companies) have acquired over 360,000 home loans through their affordable housing programs; 62% of acquisitions are loans to first-time buyers.
• The Businesses acquired nearly $140 billion in multi-family loans (totalling over 1.3 million units); 57% of these acquisitions qualified as mission-driven affordable housing loans under Schedule A of the Conservation Scorecard.
• The Enterprises acquired more than 110,000 SDR single-family loans. Of these loans, more than 20,000 were affordable to very low-income borrowers, and more than 70 percent of SDR loans acquired were from the rural housing market.
• Companies purchased loans on nearly 156,000 SDR multifamily units. More than 48% of these units were affordable for very low-income households. More than 75% of DTS units funded through corporate loan purchases were in the affordable housing preservation market.
• From 2018 to 2021, FHL banks provided nearly $1.7 billion under their AHPs, supporting more than 168,000 units for low- and middle-income households, including more than 88,000 units for very low-income households. low income. FHL Banks provided nearly $22 billion in CIP housing and CICA targeted advances in economic development, with CIP supporting more than 83,000 units for households with incomes of 115% or less. median of the region.