FHFA sets 2024 loan purchase caps for Fannie Mae, Freddie Mac

The Federal Housing Finance Agency today announced that the 2024 multifamily loan purchase caps for Fannie Mae and Freddie Mac will be $70 billion for each enterprise. FHFA will require that at least 50% of the enterprises’ multifamily businesses be mission-driven, affordable housing. In addition, for 2024, loans classified as supporting workforce housing properties in Appendix A of the conservatorship scorecard will be exempt from the volume caps. All other mission-driven loans remain subject to the volume caps.