Company: FMCCN
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001026214-25-000040
Chunk: 138

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-02-13
Form: 10-K
Item: Item 15
Chunk 138
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4, FHFA issued a final rule that establishes new affordable housing goals for the loan purchases of Freddie Mac and Fannie Mae over the next three years. The final rule also establishes new “measurement buffers” to help determine if an Enterprise that misses certain single-family housing goals during the 2025–2027 cycle must develop a housing plan (which is an action plan to demonstrate how it will improve its performance). A housing plan may be required if the Enterprise fails to meet a single-family housing goal and the gap between the Enterprise’s performance and the market level for that goal is greater than the measurement buffers provided in the final rule.

Our current and 2025-2027 affordable housing goal benchmark levels are set forth below.

FREDDIE MAC  |  2024 Form 10-K101

Management's Discussion and AnalysisRegulation and Supervision

Table 57 - Current and 2025-2027 Affordable Housing Goal Benchmark LevelsAffordable Housing GoalsBenchmarkLevels for 2024BenchmarkLevels for 2025-2027Single-Family: Low-income home purchase goal28 %25 %Very low-income home purchase goal7 6 Low-income areas home purchase goal(1)19 TBDMinority census tracts home purchase subgoal10 12 Low-income census tracts home purchase subgoal4 4 Low-income refinance goal26 26 Multifamily (percentage of overall qualified units):Low-income goal61 %61 %Very low-income goal12 14 Low-income small multifamily (5-50 units) subgoal2.5 2 

(1)The low-income areas home purchase goal benchmark level is the sum of (1) the minority census tracts home purchase subgoal, (2) the low-income census tracts home purchase subgoal, and (3) a disaster areas increment set in accordance with existing practice. Each year, FHFA notifies Freddie Mac by letter of the disaster areas increment for that year only. The disaster areas increment for 2024 was set at 5%.

Duty to Serve Underserved Markets Plan

The GSE Act establishes a duty for Freddie Mac and Fannie Mae to serve three underserved markets (manufactured housing, affordable housing preservation, and rural areas) by providing leadership in developing loan products and flexible underwriting guidelines to facilitate a secondary market for mortgages for very low-, low-, and moderate-income families in those markets. Under a final rule issued by FHFA to implement our duty to serve