Both enterprises plan for expanded use of SPCPs and downpayment assistance programs to lower the cost of getting a mortgage for low- and moderate-income borrowers.
Although Fannie Mae and Freddie Mac failed to reach their multifamily volume caps in 2022, 2023 and probably 2024, FHFA raised the caps from $140 billion to $146 billion for 2025.
The FHLBank is extending the terms and reducing the haircut on collateral pledged by non-depository CDFIs and state-chartered HFAs (which technically aren’t even members).
A new advisory bulletin streamlines the application process for an affordable housing subsidy and makes the rules more compatible with those of other affordable housing funders.
The FHLBanks last year agreed to voluntarily raise their contributions to affordable housing programs from 10% of net income to 15%, but they balked at Treasury’s suggestion to increase that to 20%.
Landlords who repeatedly fail to provide tenants the new enterprise protections could be subject to a 0.20% penalty on their original loan amount or even a default.
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