“The loan purchase cap and new mission-driven requirements will shape how we approach the multifamily market in the year ahead,” said
FHFA defines its mission-driven requirements in Appendix A of its Scorecard. For 2023, 50% of loans purchases must be mission driven. Mission-driven is defined as loan purchases that support:
Targeted Affordable Housing properties where all or a portion of the units are income or rent restricted as a result of a regulatory agreement or a recorded use restrictionWorkforce Housing properties where units are subject to either rent or income restrictions that are codified in loan agreements- Other affordable units where rents are affordable to tenants at various income thresholds but are not subject to tenant income or rent restrictions
- Properties located in rural areas as defined by the Duty to Serve regulation
- Manufactured Housing Communities that receive credit under the Duty to Serve regulation, which requires tenant pad lease protections
- Energy- or water-efficiency improvements for units affordable at or below 80% of area median income
The caps for 2022 and 2021 were
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