The GSEs will have to find ways to better serve the rural housing, manufactured housing and affordable housing preservation markets.

Freddie veterans Steve Lineberger and Meg McElgunn will run the Western and Central districts as well as the Northeastern and Southeastern districts.

Multifamily caps have kept Fannie and Freddie from expanding their footprint in the apartment market, which grew by 25% in 2021 and is expected to expand by as much as 11% this year.

When-Issued certificates allow the enterprise to advance fund the guaranteed portions of its signature K-deals. That means Freddie can transfer market risk while pooling collateral for its MBS.

Don Layton believes the new 2022 loan limits will cause home prices to increase even more, but the politicization of the housing-finance system makes it unlikely FHFA will be able to do anything about it.

The new goals don’t deviate dramatically from what the agency proposed in August, but the mulitfamily goals will only apply to 2022 instead of the usual three-year time span.

GSEs issue lender letters/bulletins tweaking their guidelines for lenders and servicers.

The agency believes enforcing fair housing laws is central to its role as regulator of Fannie Mae and Freddie Mac.

Under a proposed rule, Fannie and Freddie will have to describe their sources of capital over a five-year planning horizon.

In 2022, the GSEs will be able to purchase loans nearing $1 million, cutting into what has typically been the non-agency jumbo market.