Opinion: Unpacking the FHFA’s Zig-Zag on Multifamily Housing Goals

National Mortgage News, Jan. 24, 2023–Paul Manchester (subscription)
On December 21, the Federal Housing Finance Agency published a final rule on multifamily housing goals for Fannie Mae and Freddie Mac for 2023 and 2024. There are three categories of multifamily goals: low-income units, very low-income units, and, since 2015, low-income units in small (5-50 unit) properties. This final rule incorporates comments on a proposed rule, published on August 18. However, in something of a zig-zag, in the final rule FHFA went on to state that there was little need for the third goal at this time, an unusual statement for a financial regulator in a regulation.