The Council of the Federal Home Loan Banks and the Federal Housing Finance Agency find themselves on opposite sides in a debate over the mission of the FHLBanks.
At FHFA’s direction, the GSEs have been working to ensure lenders can identify condo projects that are ineligible due to deferred maintenance or characteristics like excess commercial space or investor concentration.
Stricter energy codes would lower residents’ housing costs, improve their health and make them more resilient to the impacts of climate change, according to environmental and consumer groups.
The government-sponsored enterprise has collaborated with state housing finance agencies to develop standardized loan documents to simplify the use of downpayment assistance programs.
FHFA Director Sandra Thompson said workforce housing exemptions should still encourage multifamily borrowers to preserve affordable housing for “extended periods.”
More than 240,000 renters in properties with Fannie-backed loans reported their rent payments to credit bureaus using the Fannie pilot. Some 58% of them saw their FICO scores increase as a result.