Fnma low income purchase goal
[PDF File]The Spatial Distribution of Affordable Home Loan Purchases in …
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purchases made by the Federal National Mortgage Association (FNMA or Fannie Mae) and the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac) under three affordable housing goals set by the Department of Housing and Urban Development (HUD). The three goals are the Low- and Moderate-Income Housing Goal, the Geographically Targeted Housing
[PDF File]The Rescue of Fannie Mae and Freddie Mac
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purchases that finance dwellings in underserved areas and for low- and moderate-income households (see Bhutta, 2012, for more details). The goals were progressively increased between 1996 and 2007; for example, the target percentage for low-and-moderate income purchase households was raised from 40 percent to 55 percent during this period. This ...
[PDF File]Desktop Underwriter/Desktop Originator Release Notes
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Housing Goal Criteria for Goal Low-Income Purchase Goal Owner -occupied, purchase, conventional mortgages where total qualifying income is equal to or less than 80% of AMI where the property is located. Very Low -Income Purchase Goal Owner -occupied, purchase, conventional mortgages where total qualifying income is equal to
[PDF File]Palmetto Home Advantage Program Guide (Non-Bond Loans)
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This loan casefile may be eligible towards Fannie Mae's Very Low-Income Purchase Goal. This goal includes owner-occupied, purchase, conventional mortgages where the total qualifying income is equal to or less than 50% of AMI where the property is located.
[PDF File]BILLING CODE: 8070-01-P FEDERAL HOUSING FINANCE AGENCY …
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families, very low-income families, and families that reside in low-income areas. Performance on the single-family home purchase goals is measured as the percentage of the total home purchase mortgages purchased by an Enterprise each year that qualify for each goal or subgoal. There is also a separate goal for refinancing mortgages for low ...
[PDF File]HUD’s AFFORDABLE LENDING GOALS FOR FANNIE MAE AND …
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each GSE’s mortgage purchases should be for very low-income families (those with incomes no greater than 60 percent of AMI) or for low-income families (those with incomes no greater than 80 percent of AMI) in low-income areas. The corresponding goal was 14 percent for 1997-2000.4 • Underserved areas goal.
[PDF File]Preliminary Staff Report - Stanford University
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borrowers living in low‐income areas (borrowers with incomes at or below 80 percent of the area median income, living in census tracts in which the median income of households is at or below 80 percent of the area median income); (3) The Underserved Areas Goal: loans to borrowers living in low‐income census
[PDF File]Did Affordable Housing Legislation Contribute to the Subprime ...
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Loan may count towards more than one goal. However, depository institutions and the GSEs must comply with the requirements to lend to both low income individuals and in low income neighborhoods. Importantly, the GSEs can satisfy their affordable housing goals by purchasing packages of securitized mortgages that they do not purchase as whole ...
[PDF File]Low Income Areas Home Purchase 2018 Goals for Fannie Mae
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Low-Income Areas Home Purchase Goal for 2018 is equal to the Low-Income Areas Home Purchase Subgoal plus this Disaster Areas Increment of 4.0 percent. Thus the Low-Income Areas Home Purchase Goal Benchmark for 2018 is 18 percent. For any questions regarding this matter, please contact Jay Schultz, Ph.D., at FHFA at 202-649-3117. 1 ...
[PDF File]2016 Annual Housing Activities Report and Annual Mortgage Report
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home purchase benchmark goal at 17 percent. • Low-Income Areas Home Purchase Subgoal Benchmark: At least 14 percent of our acquisitions of single-family owner-occupied purchase money mortgage loans must be affordable to families in low-income census tracts or to moderate-income families in high-minority census tracts.
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