FHFA under the leadership of Bill Pulte has rescinded, deleted or closed at least eight agency directives without providing notice on the agency’s website or announcing the changes in a press release.
According to FHFA’s inspector general, the Division of Enterprise Regulation has been steadily working with Freddie Mac to remedy deficiencies in the enterprise’s risk management.
A coalition of the leading affordable housing organizations in America gave Fannie Mae a C minus for its duty-to-serve plan. Freddie Mac got a B minus.
Although FHFA lowered the 2024 multifamily volume caps for Fannie Mae and Freddie Mac from $75 billion to $70 billion, enterprise financing in the sector didn’t reach that level.
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 creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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