Fannie, Freddie Regulator Leaves Affordable-Housing Targets Little Changed

Fannie Mae’s and Freddie Mac’s regulator won’t push the mortgage companies to direct additional lending resources to low-income borrowers, a blow to affordable housing advocates.

On Wednesday, the Federal Housing Finance Agency announced new target goals for the percentage of the mortgage companies’ business that must go to less well-off borrowers. Under the new goals, which are effective from this year to 2017, 24% of Fannie’s and Freddie’s mortgages to buy homes will be expected to go to families with incomes no higher than 80% of their areas’ median income, up one percentage point from 2014.

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