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CoreLogic's Take on GSE Affordable Housing Goals

Monday, September 14, 2015

It has been almost a month since the Federal Housing Finance Agency (FHFA) announced the final goals for affordable housing for mortgages and rental activity financed by the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.  CoreLogic has now released an evaluation of these goals.  In an article on the company's Insights blog, Policy Research and Strategy Analyst Stuart Quinn says that the final goals, following over 100 public comments from market participants, did not fall far the the goals FHFA originally purposed.

A balance in these rules is important, Quinn says.  Setting the bar too high; extending goals to levels above where demand exists, can cause business concerns and impact safety and soundness.  Setting the goal too low could lead to accusations that the GSEs are not upholding the intent of their charters.  "The end result could then increase impediments to mortgage credit for deserving borrowers," Quinn says.


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