National Mortgage News, January 31, 2022, (Opinion) Analyzing FHFA’s affordable multifamily housing goals
FHFA published proposed goals for each year, 2022 to 2024, in the Federal Register on August 25, 2021, with comments due by October 25, 2021. The proposed goals were generally considered challenging, with the notable exception of the proposed low-income areas goal of 4 percent.
FHFA projects that market performance on this goal will be 10.0 percent for 2022, 10.3 percent for 2023, and 10.2 percent for 2024. Thus, the proposed 4 percent goal would have been less than 40 percent of projected market performance. Several affordable housing groups, including the National Community Reinvestment Coalition, commented that the goal should be set higher in light of past performance. However, in the final rule, published on December 28, 2021, FHFA retained this goal at 4 percent for 2022-24.
