The Federal Housing Finance Agency in its Annual Housing Report today said that both Fannie Mae and Freddie Mac failed to meet their affordable housing goals for low and very-low income buyers purchasing single-family homes in 2015.
The goal was for 24 percent of loans the GSEs buy to go to households with incomes under 80 percent of their area’s median income and 6 percent to go to households with incomes under 50 percent of AMI. According to the report, Fannie and Freddie hit 23.5 percent and 22.3 percent, respectively, for low-income households (those with incomes under 80 percent of AMI). For very-low income households (those with incomes under 50 percent of AMI), Fannie came in at 5.6 percent, while Freddie hit only 5.4 percent.
