FHFA sets new percentage-based benchmark for multifamily housing goals

The Federal Housing Finance Agency has finalized the benchmark levels for Fannie Mae and Freddie Mac’s multifamily housing goals for 2023 and 2024.

Under the existing regulation, FHFA measures the impact of the multifamily goals based on the total number of affordable multifamily units financed by mortgage loans purchased by government-sponsored enterprises (GSEs) each year.

In the final rule, FHFA used a new methodology that established the benchmark levels based on the percentage of affordable units in multifamily properties financed by GSE-backed mortgages. The benchmark levels for the 2023-2024 multifamily goals were as follows: