According to FHFA’s inspector general, the Division of Enterprise Regulation has been steadily working with Freddie Mac to remedy deficiencies in the enterprise’s risk management.

A coalition of the leading affordable housing organizations in America gave Fannie Mae a C minus for its duty-to-serve plan. Freddie Mac got a B minus.

Although FHFA lowered the 2024 multifamily volume caps for Fannie Mae and Freddie Mac from $75 billion to $70 billion, enterprise financing in the sector didn’t reach that level.

The housing goals include several benchmarks that have been reduced to reflect challenges in the mortgage market.

Both enterprises plan for expanded use of SPCPs and downpayment assistance programs to lower the cost of getting a mortgage for low- and moderate-income borrowers.

Fannie and Freddie have detailed how they plan to meet their obligations to provide liquidity and credit access to underserved communities.

Although Fannie Mae and Freddie Mac failed to reach their multifamily volume caps in 2022, 2023 and probably 2024, FHFA raised the caps from $140 billion to $146 billion for 2025.

The FHLBank is extending the terms and reducing the haircut on collateral pledged by non-depository CDFIs and state-chartered HFAs (which technically aren’t even members).

A new advisory bulletin streamlines the application process for an affordable housing subsidy and makes the rules more compatible with those of other affordable housing funders.

The list of challenges facing FHFA include the GSEs’ multifamily business, the Office of Inspector General said in a new report.