Fannie Mae and Freddie Mac obtained more than 360,000 loans through their economical real estate programs in 2021, according to a report launched today by the Federal Housing Finance Agency, which manages the GSEs and the Federal Home Loan Banks. Sixty-2 percent of those loans were made to newbie property buyers, FHFA stated. The GSEs likewise obtained more than 700,000 house purchase loans to low-income debtors and, of those, 170,000 loans were to really low-income debtors. Fannie and Freddie likewise obtained 110,000 “duty to serve” single-family loans in 2021.
When it concerned multifamily loans, the GSEs obtained almost $140 billion in loans, 57% of which certified as “mission-driven affordable housing.” They likewise obtained loans on around 750,000 low-income family in 2021, 170,000 of which were economical to really low-income homes and bought almost 156,000 “duty to serve” multifamily systems. $1.1 billion was bought Low Income Housing Tax Credit equity in 2021, FHFA included.
Meanwhile, moneying for the Federal Home Loan Banks’ Affordable Housing Program in between 2018 and 2021 was practically $1.7 billion and supported over 168,000 real estate systems, consisting of over 88,000 really low-income systems. The FHLBs’ Community Investment Program financing over this duration was close to $22 billion supporting over 83,000 real estate systems.