The deal will help support the development of 1,500 units of senior housing in Arizona, more than half of which will be affordable to renters with incomes lower than 50% of AMI.
A group of 22 insurers and reinsurance companies are now on the hook for $844.8 million in mortgage credit risk on $23.1 billion in single-family loans.
The Federal Housing Finance Agency acting director said there are lots of questions that must be answered before Fannie and Freddie can exit government supervision.
Fannie Mae and Freddie Mac met all the FHFA benchmarks last year, but even if they’re lucky enough to do just as well this year, they would still fall short on several multifamily goals.
The interagency task force on property appraisal and valuation equity has identified many steps Fannie Mae, Freddie Mac and the FHFA can take to reduce racial bias in the appraisal process.
In a wide-ranging conversation, FHFA Acting Director Sandra Thompson described how innovation and new technology can bring more equity to the homebuying process.