FHFA Releases GSE 2021 Mission Report

​​The Federal Housing Finance Agency released its annual Mission Report that describes Fannie Mae, Freddie Mac and Federal Home Loan Bank activities to increase access to financing for economic development and affordable, equitable and sustainable housing.

​Highlights from the FHFA 2021 Mission Report: Affordable Housing Activities of the Regulated Entities include:

–The Enterprises acquired more than 360,000 homeownership loans through their affordable housing programs. Sixty-two percent of acquisitions were loans to first-time homebuyers. 

–The Enterprises acquired nearly $140 billion in multifamily loans exceeding 1.3 million units. FHFA reported 57 percent of those loan acquisitions qualified as mission-driven affordable housing loans under Appendix A of the Conservatorship Scorecard.

–The Enterprises acquired more than 110,000 Duty to Serve single-family loans. Of those loans, more than 20,000 were affordable to very low-income borrowers. More than 70 percent of Duty to Serve loans acquired were in the rural housing market.

–The Enterprises purchased loans on nearly 156,000 Duty to Serve multifamily units. More than 48 percent of those units were affordable to very low-income households. More than 75 percent of Duty to Serve units financed by Enterprise loan purchases were in the affordable housing preservation market.

​​–From 2018 to 2021, the FHLBanks provided almost $1.7 billion under their Affordable Housing Programs, supporting more than 168,000 units for low- or moderate-income households, including more than 88,000 very low-income units. The FHLBanks provided close to $22 billion in Community Investment Program housing and Community Investment Cash Advance-targeted economic development advances, with the Community Investment Program supporting more than 83,000 units for households with incomes at or below 115 percent of area median income.

FHFA oversees the GSEs and the Federal Home Loan Banks. The agency seeks to ensure a focus on mission-driven activities to provide liquidity, stability and affordability to the mortgage market through programs including Housing Goals, Duty to Serve, Fair Lending and the Conservatorship Scorecard and ​​FHLBank programs including the Affordable Housing Program and the Community Investment Program. The FHLBanks also provide funds to support targeted economic development lending by their member financial institutions through their Community Investment Programs and Community Investment Cash Advance programs.