UMMC Members Submit Comment on Fannie Mae and Freddie Mac Housing Goals

Coalition Members Urge Support for Affordable Homeownership Opportunities

This week members of the Underserved Mortgage Markets Coalition (UMMC) wrote to the Federal Housing Finance Agency (FHFA), the regulator for Fannie Mae and Freddie Mac (the Enterprises), urging the agency to maintain housing goals that ensure the Enterprises support access to homeownership and rental housing across the country. The letter was issued in response to proposal from the agency to establish new housing goals for the Enterprises for 2026-2028.

Congress requires FHFA to establish goals for the Enterprises’ purchase of mortgage loans, refinances, and multifamily loans that provide access to affordable homeownership and rental housing for low- and very low-income families. These goals help to ensure that the Enterprises are fulfilling their responsibility to support the market for mortgages, including for low- and moderate-income families, and to support access to mortgage credit throughout the nation.

FHFA established Enterprise housing goals for 2025-2027 last year. The proposed rule would reduce the Enterprises’ home purchase goals and change the subgoals for mortgages in low-income areas and minority census tracts. In its letter, UMMC supported FHFA’s proposal to maintain the refinance and multifamily housing goals and urged the agency to also maintain the current purchase mortgage goals. Maintaining these goals will help to ensure that the Enterprises are supporting access to housing opportunities for all families, including hardworking firefighters, teachers, and police officers whose typical salaries make their mortgages eligible for housing goals credit.