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Volume 10 - Number 38

June 15, 2012

FHFA Proposes Lower GSE Affordable Housing Goals

The Federal Housing Finance Agency this week proposed to reduce the affordable housing goals for Fannie Mae and Freddie Mac through 2014. The low-income housing goal would be lowered from the current 27 percent to 20 percent, and the very-low-income target would drop slightly, from 8 percent of the government-sponsored enterprises’ business to 7 percent. The Finance Agency has not yet calculated the GSEs’ performance on their 2011 affordable housing goals, although un-verified calculations by both companies show that they missed several targets last year. That was also the case in 2010.

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Should the FHA cut premiums?

Yes, the MMIF has surpassed the 2 percent minimum. It’s time to help first-time home buyers.
Yes, but not until mid-2016 at least, when we see how the fund is doing.
No. The MMIF needs to rebuild and prepare for another potential downturn – just in case.
No. We believe the minimum ratio should actually be raised to 4 percent or higher.
I am undecided.

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