FANNIE MAE

2013 ANNUAL HOUSING ACTIVITIES REPORT

and

ANNUAL MORTGAGE REPORT

SUBMITTED TO: 

THE FEDERAL HOUSING FINANCE AGENCY (FHFA) 

THE COMMITTEE ON FINANCIAL SERVICES

OF THE

UNITED STATES HOUSE OF REPRESENTATIVES

THE COMMITTEE ON BANKING, HOUSING AND URBAN AFFAIRS 

OF THE

UNITED STATES SENATE

PURSUANT TO 

The Federal National Mortgage Association 

Charter Act 

MARCH 13, 2014
 

1 

 

INTRODUCTION

Under Section 309(n) of the Federal National Mortgage Association Charter Act (“Charter Act”),1

 Fannie 

Mae is required to submit a report on its annual housing activities to the Director of the Federal Housing 

Finance Agency (“FHFA”) and to its oversight committees in the United States House of Representatives 

and the United States Senate. This report responds to this requirement and is made available to the 

public. 

Since 1993, Fannie Mae has been subject by statute and regulation to the achievement of certain housing 

goals. The structure of our housing goals changed in 2010 as a result of the passage of the Housing and 

Economic Recovery Act of 20082

 and goals for 2010 and 2011 were set at that time.3 In 2012, FHFA 

issued a rule revising our housing goals.4

 The new rule established single family and multifamily goals 

for 2012-2014. 

The following single family home purchase and refinance housing goal benchmarks were established for 

2012–2014. A home purchase mortgage may be counted towards more than one home purchase 

benchmark. 

• Low-Income Families Home Purchase Goal: At least 23 percent of our acquisitions of mortgage 

loans financing single family owner occupied home purchases must be affordable to low-income 

families (defined as families with income no higher than 80 percent of area median income). 

• Very Low-Income Families Home Purchase Goal: At least 7 percent of our acquisitions of mortgage 

loans financing single family owner occupied home purchases must be affordable to very lowincome families (defined as families with income no higher than 50 percent of area median income). 

• Low-Income Areas Home Purchase Goal: At least 21 percent of our acquisitions of mortgage loans 

financing single family owner occupied home purchases must be for families who reside in lowincome census tracts and for moderate-income families (defined as families with income no higher 

than 100 percent of area median income) who reside in minority census tracts or designated disaster 

areas. 

• Low-Income Areas Home Purchase Subgoal: At least 11 percent of our acquisitions of mortgage 

loans financing single family owner occupied home purchases must be for families who reside in 

low-income census tracts or for moderate-income families who reside in minority census tracts. 

• Low-Income Families Refinancing Goal: At least 20 percent of our acquisitions of refinance loans 

for single family owner occupied housing must be affordable to low-income families. Permanent 

modifications of mortgages under the Home Affordable Modification Program completed during the 

year may count toward this refinance goal. 

If we do not meet these benchmarks, we may still meet our goals. Single family housing goals 

performance is measured against both the FHFA-set benchmarks and against goals-qualifying 

originations in the primary mortgage market. We will be in compliance with the housing goals if we meet 

either the benchmarks or market share measures. If our performance against any of our 2013 single 

family housing goals is below the benchmark level, Fannie Mae and FHFA will compare our performance 

with that of goals-qualifying originations in the primary mortgage market after the release of data 

 

1

 12 U.S.C. § 1716 et seq. 

2

 12 U.S.C. § 4501 et seq. 

3

 12 C.F.R. Part 1282 

4

 2012-2014 Enterprise Housing Goals, 77 Fed. Reg. 67535 (Nov. 13, 2012). 
 

2 

 

reported under the Home Mortgage Disclosure Act (“HMDA”).5 This release will be made in the fall of 

2014. At that time it will be determined whether Fannie Mae met any additional goals based on the 

HMDA market data. 

FHFA also established multifamily goals and subgoals for 2012-2014 as follows. For 2012, we were 

required to finance at least 285,000 units affordable to low-income families and 80,000 units affordable to 

very low-income families. For 2013, we were required to finance at least 265,000 units affordable to lowincome families and 70,000 units affordable to very low- income families. For 2014 we must finance at 

least 250,000 units affordable to low-income families and 60,000 units affordable to very low-income 

families. There is no market-based alternative measurement for the multifamily goals. 

In adopting the rule establishing our housing goals in 2010, FHFA stated, “FHFA does not intend for 

[Fannie Mae] to undertake uneconomic or high-risk activities in support of the [housing] goals. However, 

the fact that [Fannie Mae is] in conservatorship should not be a justification for withdrawing support from 

these market segments.”6

 If our efforts to meet our goals prove to be insufficient, FHFA determines 

whether the goals were feasible. If FHFA finds that our goals were feasible, we may become subject to a 

housing plan that could require us to take additional steps, including describing the actions we would take 

to meet the goal in the next calendar year. The potential penalties for failure to comply with housing plan 

requirements include a cease-and-desist order and civil money penalties. 

For 2012, FHFA determined that we met all of our single family goals and subgoal as well as our 

multifamily goal and subgoal. 

 

5

 12 U.S.C. § 2801 et seq. 

6

 2010-2011 Enterprise Housing Goals; Enterprise Book-Entry Procedures, 75 Fed. Reg. 55892, 55896-55897 (Sept. 14, 2010). 
 

3 

 

The following table sets forth Fannie Mae's housing goals performance against our 2013 single family 

housing benchmarks and multifamily housing goals, as calculated by Fannie Mae.7

 We believe we met 

four out of five of our single family benchmarks for 2013, as well as both 2013 multifamily goals. Final 

performance results will be calculated and published by FHFA.8

 

7

 Our single family results and benchmarks are expressed as a percentage of the total number of eligible mortgages acquired 

during the period. 

8

 Our 2013 results have not been validated by FHFA. After validation they may differ from the results reported above. Loans 

financed through the Housing Finance Agency Initiative are not included. We estimate the inclusion of such loans would not 

change the goals performance for the Low-Income Home Purchase Goal, Very Low-Income Home Purchase Goal, and the LowIncome Areas Home Purchase Goal.

Housing Goals 2013 

Benchmark 

2013 

Result 

Single Family

Low-Income Home Purchase 23% 23.79% 

Very Low-Income Home Purchase 7% 6.00% 

Low-Income Areas Home Purchase 21% 21.64% 

Low-Income Areas Home Purchase Subgoal 11% 13.99% 

Low-Income Refinance 20% 24.31% 

Multifamily (in units)

Low-Income 265,000 326,597 

Very Low-Income Subgoal 70,000 78,071 
 

4 

 

CHARTER ACT REQUIREMENTS

Fannie Mae’s Charter Act specifies the information that must be included in the Annual Housing 

Activities Report.9

 Each statutory requirement is set forth below, followed by Fannie Mae’s response for 

2013. 

1. Include, in aggregate form and by appropriate category, statements of the dollar volume 

and number of mortgages on owner occupied and rental properties purchased which relate 

to each of the annual housing goals. 

The dollar volume and number of mortgages on owner occupied properties that relate to each of the 

housing goals are set forth on Table 1A of the Annual Mortgage Report (“AMR”) attached hereto. 

The dollar volume and number of mortgages on rental properties that relate to each of the housing goals 

are set forth on AMR Table 1A (Single Family Owner Occupied 2-4 Unit Properties/Mortgages) and 

AMR Table 1B (Multifamily) attached hereto. In 2013, Fannie Mae mortgage purchases financed 20,645 

units affordable to families earning 80 percent or less of the area median income living in owner occupied 

2-4 unit properties.10 

2. Include, in aggregate form and by appropriate category, statements of the number of 

families served by the corporation, the income class, race, and gender of homebuyers 

served, the income class of tenants of rental housing (to the extent such information is 

available), the characteristics of the census tracts, and the geographic distribution of the 

housing financed. 

 

In 2013, Fannie Mae’s purchases of mortgages served 4,120,811 families, as measured by the number of 

units financed. The income class, race, and gender of homebuyers served, the characteristics of the 

census tracts, and the geographic distribution of the housing financed are set forth on AMR Tables 2, 3, 4, 

5A, 6, 7, 8, 9, 10A, and 10B attached hereto. 

3. Include a statement of the extent to which the mortgages purchased by the corporation have 

been used in conjunction with public subsidy programs under Federal law. 

In 2013, Fannie Mae purchased 5,469 single family mortgages and 367 multifamily mortgages with an 

aggregate unpaid principal balance of approximately $0.73 billion and $2.3 billion, respectively, that were 

originated in conjunction with public subsidy programs.11 

 

9

 Charter Act, § 309(n)(2)(A-L). 

10 In addition, Fannie Mae purchased 2,532 units where affordability data was not provided by the seller. Because that data was 

not provided, we have not included these units in our calculation. 

11 For purposes of this AHAR, Fannie Mae defined programs originated in conjunction with public subsidy programs to include: 

certain single family and multifamily HUD-related and Rural Housing Service-related programs and other government insured 

and/or related programs; Fannie Mae’s Multifamily Affordable Housing execution; mortgage purchases from housing finance 

agencies that benefit from federal tax exemption; bond credit enhancements; and mortgages that benefit from low-income 

housing tax credits. Because some loans may have been made in conjunction with more than one public subsidy program, there 

may be a small amount of overlap. 
 

5 

 

4. Include statements of the proportion of mortgages on housing consisting of 1 to 4 dwelling 

units purchased by the corporation that have been made to first-time homebuyers, as soon 

as providing such data is practicable, and identifying any special programs (or revisions to 

conventional practices) facilitating homeownership opportunities for first-time homebuyers. 

In 2013, 42.80 percent of single family owner occupied home purchase mortgages acquired by Fannie 

Mae financed mortgage loans to first-time homebuyers.12 Set forth in the following table are certain 

Fannie Mae products that assist first-time homebuyers and the proportion of first-time homebuyers that 

utilized the program in 2013 as compared to all homebuyers that utilized the program. 

5. Include, in aggregate form and by appropriate category, the data provided to the [Director] 

under subsection (m)(1)(B) [i.e., the loan-to-value ratios of purchased mortgages at the time 

of origination]. 

AMR Table 11 provides the loan-to-value (“LTV”) ratio of single family owner occupied mortgages 

purchased by Fannie Mae. 

6. Compare the level of securitization versus portfolio activity. 

In 2013, Fannie Mae securitized $764.5 billion in mortgages and its portfolio decreased by $142.4 billion. 

Our portfolio acquisitions included approximately $27.9 billion of delinquent loans purchased from our 

single family MBS trusts. The purchases of delinquent loans from MBS trusts help facilitate 

modifications of delinquent loans.

7. Assess underwriting standards, business practices, repurchase requirements, pricing, fees, 

and procedures, that affect the purchase of mortgages for low- and moderate-income 

families, or that may yield disparate results based on the race of the borrower, including 

revisions thereto to promote affordable housing or fair lending. 

Fannie Mae has an ongoing comprehensive fair lending risk assessment program that is designed to 

ensure that its underwriting standards, business practices, repurchase requirements, pricing policies, fee 

structures, and procedures comply with the fair lending laws and promote fair and responsible lending. 

 

12 Exclusions from this calculation include: loans exempt from housing goals reporting (e.g., loan restructures, convertible 

adjustable rate mortgages, and real estate owned properties), long-term standby commitments, refinance mortgages, home equity 

conversion mortgages, government loans, and Making Home Affordable modifications. Fannie Mae has relied on information 

provided by its customers to identify units occupied by first-time homebuyers. Fannie Mae’s Single Family Selling Guide 

defines a first-time homebuyer as “an individual who: (1) is purchasing the security property; (2) will reside in the security 

property as a principal residence; and (3) had no ownership interest (sole or joint) in a residential property during the three-year 

period preceding the date of the purchase of the security property. In addition, an individual who is a displaced homemaker or

single parent also will be considered a first-time homebuyer if he or she had no ownership interest in a principal residence (other 

than a joint ownership interest with a spouse) during the preceding three-year time period.” 

Products and Initiatives Percentage of Mortgages Made 

to First-Time Homebuyers 

MyCommunityMortgage 89.61% 

HFA PreferredTM 92.75% 

HFA Preferred Risk SharingTM 85.11% 

HomePath 63.11% 

Non-HFA Community Seconds 91.85% 
 

6 

 

Fannie Mae considers service to low- and moderate-income families to be an important part of its 

mission. Fannie Mae designs its underwriting standards, business practices, repurchase requirements, and 

procedures to balance the company’s multiple objectives of serving low- and moderate-income families, 

meeting its liquidity mission, and appropriately addressing credit risk. 

2013 Changes

Fannie Mae implemented certain changes to its single family mortgage underwriting and business 

practices in 2013, including the following: 

 Fannie Mae implemented Desktop Underwriter (“DU”) Version 9.1, which includes changes to 

comply with the ability to repay (“ATR”) provisions of the Dodd-Frank Wall Street Reform and 

Consumer Protection Act (“Dodd-Frank Act”). DU Version 9.1 lowers the maximum allowable 

LTV/combined LTV/home equity combined LTV ratio to 95 percent (from 97 percent) for 

standard and MyCommunityMortgage® fixed-rate transactions secured by a 1-unit primary 

residence, enhances the DU treatment of loan case files for borrowers with a previous deed-inlieu of foreclosure or preforeclosure sale, aligns DU requirements with policy changes made in 

the Fannie Mae Selling Guide, and incorporates other changes to DU eligibility guidelines. 

 At FHFA’s direction, Fannie Mae adopted additional eligibility standards for loans subject to the 

Truth in Lending Act’s ATR requirements applicable to loans with application dates on and after 

January 10, 2014. These include limits on lenders’ points and fees calculated in accordance with 

the CFPB’s Regulation Z provisions relating to “qualified mortgage” status. Loans for low- and 

moderate-income consumers made through certain state housing finance agency and non-profit 

programs are expressly exempted from ATR compliance and are not subject to the qualified 

mortgage-related points and fees limits. 

 Fannie Mae continues to provide refinance opportunities for existing Fannie Mae borrowers 

through the DU Refi PlusTM and Refi PlusTM initiatives, including the Home Affordable 

Refinance Program (“HARP”), which were originally implemented in 2009. In April 2013, 

FHFA announced the extension of HARP to December 31, 2015, in order to continue to help 

borrowers reduce their mortgage payments or obtain a more stable mortgage loan product, or 

both. Key changes made to DU in 2013 to support extension of the program included: 

o Retiring the expanded approval recommendation labels; 

o Eliminating the estimated value message; 

o Removing the standard waiting period and re-establishment of credit criteria following a 

bankruptcy, foreclosure, deed-in-lieu of foreclosure, or pre-foreclosure sale; 

o Enhancing the address matching and Social Security number matching logic; and 

o Aligning the leasehold verification requirements with Refi Plus. 

Fannie Mae continues to implement various policy, process and technology enhancements aimed at 

improving a lender’s ability to deliver mortgage loans that meet Fannie Mae’s underwriting and eligibility 

guidelines, thereby mitigating repurchase risk of ineligible loans. At the direction of FHFA, Fannie Mae 

and Freddie Mac jointly developed the Uniform Appraisal Dataset (“UAD”) and the Uniform Loan 

Delivery Dataset (“ULDD”) to improve the quality and consistency of data on loans delivered to Fannie 

Mae and Freddie Mac. The UAD defines all data points required for an appraisal report and standardizes 

key data points. The ULDD provides a common dataset acceptable for loan delivery to both companies. 
 

7 

 

8. Describe trends in both the primary and secondary multifamily housing mortgage markets, 

including a description of the progress made, and any factors impeding progress toward 

standardization and securitization of mortgage products for multifamily housing. 

Primary and Secondary Market Trends

The primary multifamily housing market is influenced by a variety of economic and demographic 

conditions. These conditions impact the demand for, and absorption of, additional units. National 

multifamily fundamentals (e.g., vacancy levels, rent growth, and apartment housing demand) held up 

quite well during 2013, despite an influx of new, higher-end supply in some submarkets. Continued 

demand for rental apartments remains a positive force across most of the country and, more importantly, 

is expected to continue into 2014. Set forth below are charts illustrating trends that impact the market for 

multifamily mortgage originations. 

Source: Fannie Mae Economics and Multifamily Market Research 

 

As illustrated in the chart above, estimated rent levels have increased steadily for 15 straight quarters, 

with a nearly 3 percent increase in 2013. Estimated vacancy rates have generally decreased during the 

same period, although the rate remained stable at an estimated 5.1 percent over the last three consecutive 

quarters. 

Effective rents and net absorption both continued to increase during 2013. National asking rents grew by 

an estimated 3.0% in 2013. National asking rents increased by an estimated 1.0% during the fourth 

quarter of 2013, compared with a 1.0% increase in the third quarter of 2013. 

Continued demand for multifamily rental units was reflected in the estimated positive net absorption (that 

is, the net change in the number of occupied rental units during the time period) of approximately 165,000 

$1,110

5.10%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

$920 

$970 

$1,020 

$1,070 

$1,120 

Rent Level

Vacancy Rate

Estimated National Rent Level and Vacancy Rate
 

8 

 

units in 2013. According to preliminary data from Reis, Inc., there was positive net absorption of 

approximately 51,000 units during the fourth quarter of 2013, compared with approximately 41,000 units 

during the third quarter of 2013. Although an estimated 127,000 units were added to inventory in 2013, 

the new supply was not disruptive on a national basis. 

Source: Real Capital Analytics (www.rcanalytics.com) (Used by permission; excludes Tishman-Speyer 

transaction in 2007); 2005-present based on properties and portfolios $2.5 million and greater.

Sales of apartment properties valued at $2.5 million or greater were $103.5 billion in 2013, increasing 18 

percent from 2012, according to data from Real Capital Analytics. More than 5,900 apartment properties 

changed ownership in 2013, which is an increase of about 15 percent from 2012’s activity level. 

In addition, the average reported capitalization rate13 remained fairly steady all year at approximately 6.2 

percent, the same rate as in 2012. However, capitalization rates in some of the nation’s largest 

metropolitan areas remained at below-average levels, according to Real Capital Analytics. 

Standardization and Securitization

Securitization of mortgages relies on standardization. Over the past two decades, standardization of 

multifamily mortgages has been advanced by a number of factors, including: (1) the development of the 

market for commercial mortgage-backed securities (“CMBS”), including those backed by multifamily 

mortgage loans; (2) the introduction of Fannie Mae’s risk-sharing Delegated Underwriting and Servicing 

program in 1988 and subsequent enhancements; (3) efforts to standardize commercial securitization and 

offering documents, spearheaded by the Commercial Real Estate Finance Council; (4) the issuance by the 

Securities and Exchange Commission (“SEC”) of Regulation AB in 2005, which established uniform 

 

13 The capitalization rate, as defined by the Mortgage Bankers Association, is the rate of return on net operating income 

considered acceptable to investors and used to determine the capitalized value. The rate should provide a return on, as well as a 

return of, capital. 

National Apartment Sales Volume and Cap Rates

5.75%

6.00%

6.25%

6.50%

6.75%

7.00%

7.25%

$0 

$5 

$10 

$15 

$20 

$25 

Billions

Volume Cap Rates
 

9 

 

disclosure requirements for all publicly registered CMBS transactions; and (5) passage of the Dodd-Frank 

Act and the most recent changes to Regulation AB proposed by the SEC that are anticipated to be 

finalized in 2014. 

In 2013, Fannie Mae continued to rely on its securitization activities for new production, using MBS as 

the primary execution to further its mission to provide liquidity and stability to the multifamily market. 

This occurred through three primary activities: 

 Fannie Mae issued $28.5 billion in multifamily MBS in 2013, which accounted for 99 percent of 

its multifamily lender production. 

 In an effort to improve the liquidity and increase demand for multifamily MBS, in 2013 Fannie 

Mae issued $10.2 billion of Multifamily structured securities through ten REMIC transactions as 

part of our GeMSTM program. GeMSTM structured securities are backed by multifamily MBS 

previously issued by Fannie Mae. In 2014, Fannie Mae will continue to market its Multifamily 

structured product offerings through the GeMSTM program. 

 In addition, the company securitized approximately $2.9 billion of whole loans held in portfolio 

into multifamily MBS in 2013. The total amount of seasoned whole loans that have been 

securitized from 2010 through 2013 is $26 billion, supporting liquidity and addressing 

regulatory limits for Fannie Mae's portfolio. As part of Fannie Mae’s GeMSTM program, the 

Multifamily Trading Desk structured and sold approximately $4.9 billion of these pools backed 

by seasoned loans across ten REMIC transactions in 2013. 

Beginning in 2010, the SEC (and other federal agencies) began to consider a variety of proposals 

designed to enhance securities disclosure and investment quality related to asset-backed securities. Many 

of these proposals were in response to mandates set forth in the Dodd-Frank Act. While some of these 

proposals have resulted in the issuance of final rules, others are still in the midst of the rulemaking 

process. All are intended to require issuers of mortgage-backed securities to provide greater 

transparency about the securities they are issuing. For example, in 2011 the SEC adopted a final rule 

requiring many issuers of asset-backed securities to file quarterly reports with the SEC disclosing the 

volume of repurchase demands with respect to such securities due to breaches of representations and 

warranties by the sellers of such assets. The SEC has also proposed revisions to Regulation AB, which 

governs disclosure related to the issuance of asset-backed securities. The proposed revisions would, 

among other things, extend the requirements of Regulation AB to privately-issued securities, but not to 

securities issued by Fannie Mae and Freddie Mac. The SEC (together with the FHFA and several other 

federal agencies) has also proposed a rule requiring certain sponsors of asset-backed securities to retain a 

certain amount of risk with respect to such securities. The proposed rules were published for comment in 

2011 and 2013 but have not been finalized.14 Fannie Mae believes that all of these activities could lead to 

further standardization of disclosure practices for securitizations. 

 

14 Fannie Mae has always retained credit risk on virtually all its mortgage-backed securities, pursuant to its guarantee of such 

securities. 
 

10 

 

9. Describe trends in the delinquency and default rates of mortgages secured by housing for 

low- and moderate-income families that have been purchased by the corporation, including 

a comparison of such trends with delinquency and default information for mortgage 

products serving households with incomes above the median level that have been purchased 

by the corporation, and evaluate the impact of such trends on the standards and levels of 

risk of mortgage products serving low- and moderate-income families. 

Delinquency and Default Trends Based on 2013 Performance Data15

An analysis of the performance of single family mortgage loans serving low- and moderate-income 

borrowers 16 shows that these loans do not perform as well as loans serving borrowers with incomes above 

the median level. The chart below compares 90-day delinquencies (i.e., delinquencies occurring within 

the first 12 months of acquisition) and defaults (defined as a foreclosure sale, deed-in-lieu of foreclosure, 

pre-foreclosure sale, or third party sale, at any time during the life of the loan) on loans made to low- and 

moderate-income borrowers as against loans made to borrowers with incomes above the median level, by 

acquisition year. For example, loans made in 2012 to low- and moderate-income families were 132 

percent more likely to become 90-days delinquent and 86 percent more likely to default than loans made 

to families with income above the median level. This analysis is based on income relative to area median 

income and does not control for other risk dimensions, such as LTV or credit history. 

Relative 90-Day Delinquency and Default Rates between 

Single Family Loans Serving Low- and Moderate-Income Families and 

Loans Serving Families with Income above the Median Level, by Year17

Acquisition 

Year18

Increased 

Likelihood of 90-

Day Delinquency 

Increased 

Likelihood of 

Default 

2002 129% 197%

2003 157% 177%

2004 160% 112%

2005 122% 39%

2006 119% 20%

2007 50% 28%

2008 46% 53%

2009 108% 113%

2010 127% 112%

2011 140% 102% 

2012 132% 86% 

 

15 Information regarding serious delinquency and default performance is based on acquisitions through December 2012. 

Performance is observed through December 2013. 

16 Since 2010, Fannie Mae no longer tracks unit-level affordability data. To ensure consistency comparing loans from 2000 to 

2011, this analysis is based upon the borrowers’ income relative to the area median income. Additionally, this analysis only 

pertains to owner- occupied principal residences. 

17 Sample used: unseasoned, conforming, conventional, owner occupied, first lien, non-reverse mortgages, excluding GrowingEquity Mortgages, Graduated Payment Mortgages and loans missing affordability data. 

18 During the period 2006 through and including 2008, acquisitions of mortgage loans to borrowers of all income categories had a 

higher risk of delinquency and default.
 

11 

 

10. Describe in the aggregate the seller and servicer network of the corporation, including the 

volume of mortgages purchased from minority-owned, women-owned, and communityoriented lenders, and any efforts to facilitate relationships with such lenders. 

Based upon annual information provided by lenders, Fannie Mae has selling and servicing relationships 

with 1,911 single family and 116 multifamily primary market lenders through which the company both 

purchases loans for its portfolio and issues MBS. The following table sets forth the volume of mortgages 

purchased in 2013 from single family and multifamily lenders identified as minority- or women-owned 

lenders, women-owned lenders19 and community-oriented lenders.20

Seller/Servicer Type Volume of Mortgages 

Minority- or women-owned $3.88 billion 

Women-owned $1.42 billion 

Community-oriented lenders $175.88 billion 

 

Efforts to facilitate relationships with single family lenders include formal business alliances or affinity 

agreements in which lenders receive benefits designed to reduce the cost of doing business with Fannie 

Mae.21

11. Describe the activities undertaken by the corporation with nonprofit and for-profit 

organizations and with State and local governments and housing finance agencies, including 

how the corporation’s activities support the objectives of comprehensive housing 

affordability strategies under section 105 of the Cranston-Gonzalez National Affordable 

Housing Act.22 

Activities undertaken by Fannie Mae in 2013 with nonprofit and for-profit organizations, State and local 

governments, and HFAs include: 

 The Department of the Treasury, the Department of Housing and Urban Development, and FHFA 

announced an initiative on October 19, 2009, to provide $23.4 billion of liquidity for HFAs. This 

initiative was designed in collaboration with Fannie Mae and Freddie Mac, and consisted of two 

primary programs: a temporary credit and liquidity facilities (“TCLF”) program and the new 

issue bond program (“NIBP”). The NIBP program ended in 2012. The TCLF program balance 

continued to decrease in 2013 with two additional HFA’s completely exiting the program. Four 

HFAs remain in the program as of December 31, 2013, with a total outstanding balance 

remaining of $1.549 billion. The program will terminate on December 31, 2015. 

 

19 Some of these women-owned lenders also identified as a minority group such as African-American, Hispanic, Asian-Pacific or 

Indian-Alaskan. 

20 For these purposes, a “community-oriented lender” is defined as a financial institution with total assets of less than $1.186 

billion. This definition is consistent with the definition of “small bank” under the Community Reinvestment Act implementing 

regulations (12 C.F.R. § 228.12), as in effect during 2012.

21 These agreements do not preclude members from doing business through other secondary market channels. 

22 Under Section 105, comprehensive housing affordability strategies include, among other things: (1) efforts to address 

homelessness and meet the needs of homeless persons; (2) the provision of housing for different categories of residents, such as 

very low-income, low-income, and moderate-income families, the elderly, single persons, large families, residents of nonmetropolitan areas, families who are participating in an organized program to achieve economic independence and selfsufficiency, and other categories of persons; (3) combined efforts with private industry, nonprofit organizations and public 

institutions to deliver safe and adequate housing; (4) encouraging public housing residents to become homeowners; and (5) 

efforts to provide affordable housing through the production of new units, rehabilitation, or acquisition of existing units. 
 

12 

 

 Fannie Mae purchased 17,381 loans from HFAs in 2013, with an unpaid principal balance of 

$2,861,000,000. 

 During 2013, $5 million was invested nationwide to support nonprofit partners focused on 

foreclosure prevention, sustainable homeownership, neighborhood stabilization, affordable 

housing, and the prevention of homelessness 

 Fannie Mae facilitated the sale of four multifamily real estate owned properties with over 500 

units to nonprofits and public entities involved in providing affordable housing. 

 Approximately a dozen foreclosed multifamily properties were marketed to non-profits, public 

entities and/or affordable housing developer organizations for potential purchase to convert into 

affordable housing. 

 Fannie Mae helped provide financing for almost 13,000 Low-Income Housing Tax Credit 

(“LIHTC”) units of housing by providing $519 million for debt financing on LIHTC projects via 

our lending partners. 

 Fannie Mae supported its ongoing investment in over 4,100 affordable housing LIHTC projects 

(241,647 LIHTC units) through approximately 269 investment funds. Almost 1,750 of these 

projects were developed, and are managed, by local not-for-profit developers. In 2013, Fannie 

Mae funded over $18 million in deferred capital contributions to its LIHTC partners for the 

benefit of the projects. 

One of the purposes of the Cranston-Gonzalez National Affordable Housing Act is to extend and 

strengthen partnerships among all levels of government and the private sector in the production and 

operation of housing that is affordable to low- and moderate-income families. Fannie Mae believes that 

the activities listed above support the objectives of the legislation. 
Total Total Total Qualifying Low- Total

Mortgages Qualifying Mortgages Qualifying Very Mortgages Qualifying Low- Income Area Mortgages Qualifying

Eligible To Low-Income Eligible To Low-Income Eligible To Income Area Purchase Eligible To Low-Income All Mortgage

Qualify As Purchase Qualify As Very Purchase Qualify As Low- Purchase Money Qualify As Refinance Purchases

Low-Income Money Low-Income Money Income Area Money Goal Subgoal Low-Income Mortgages1

Purchase Mortgages Purchase Mortgages Purchase Mortgages Mortgages Refinance1

Money Money Money

Purchase of Single-Family Mortgages

 Owner-Occupied 1-Unit Properties/Mortgages:

 UPB ($ Millions) $185,204 $26,180 $185,204 $4,898 $185,204 $29,528 $19,798 $438,980 $69,983 $655,289 

 Number of Mortgages 808,491 192,081 808,491 48,480 808,491 173,031 111,285 2,160,610 521,360 3,126,496

 Owner-Occupied 2-4 Unit Properties/Mortgages:

 UPB ($ Millions) $1,685 $269 $1,685 $36 $1,685 $863 $735 $6,904 $1,703 $8,737 

 Number of Mortgages 5,575 1,579 5,575 330 5,575 3,138 2,570 25,931 9,045 31,970

Missing Affordability Data Adjustments

 Owner-Occupied Mortgages in 1-4 Unit Properties:

 Number of Mortgages With Missing Data 1,514 1,514 1,514 7,162

 Mortgages Where Income Estimation is Possible

 Not subject to the Cap 0 0 0 0 0 0 0 0 0

 Subject to the Cap 1 0 1 0 1 0 0 5,696 1,206

 Market Determined Cap 7,219 7,219 7,219 85,085

 Missing Data Adjustment for Affordability Estimation 0 0 0 0 1,206

Total Single Family Owner-Occupied Mortgages in 1-4 Unit 

 UPB ($ Millions) $186,889 $26,449 $186,889 $4,934 $186,889 $30,391 $20,533 $445,884 $71,686 $664,026 

 Number of Mortgages 814,066 193,660 814,066 48,810 814,066 176,169 113,855 2,186,541 530,405 3,158,466

 Number of Mortgages (Adjusted) 814,066 193,660 814,066 48,810 814,066 176,169 113,855 2,186,541 531,611 3,158,466

Goals Performance

 Fannie Mae's Single-Family Goals 23% 7% 21% 20%

 Goals Performance Percentage 23.79% 6.00% 21.64% 24.31%

 Fannie Mae's Single-Family Subgoal 11%

 Subgoal Performance Percentage 13.99%

Mortgages may count toward more than one goal. On certain tables, sum of entries may not equal totals due to rounding.

1

MHA Modification loans are included in all Single-Family tables where applicable. An Enterprise's modification of a loan in accordance with the Make Home Affordable program announced on March 4, 2009, that is held in the Enterprise's portfolio or that is

in a pool backing a security guaranteed by the Enterprise, shall be treated as a purchase of a refinance mortgage for the purposes of the housing goals.

Table 1A

Fannie Mae's Mortgage Purchases by Mortgage Type and Housing Goal Status

Summary Table on Single-Family Housing Goal Performance

For Calendar Year 2013
All Mortgage 

Purchases

Purchases of Multifamily Mortgages

Multifamily 5-50 Unit Properties: 

UPB ($ Million) $726 $176 $1,685 

Number of Mortgages* 592 375 777

Number of Properties 605 380 792

Number of Units 13,827 4,328 21,764

Multifamily > 50 Unit Properties:

UPB ($ Million) $14,559 $2,631 $26,530 

Number of Mortgages* 1,827 1,363 2,068

Number of Properties 1,841 1,369 2,082

Number of Units 299,757 68,247 408,987

Missing Affordability Data Adjustments

Rental Unit Affordability Estimation 

Eligible Units Qualifying Units Eligible Units Qualifying Units

Units in Multifamily Properties:

Number of Units with Missing Data 24,369 24,369 N/A

Units Where Rent Estimation is Not Possible 323 323 N/A

Units Where Rent Estimation is Possible 24,046 24,046 N/A

Not Subject to Cap 23,904 12,931 23,904 5,467 N/A

Subject to Cap 142 82 142 29 N/A

10% Cap 43,075 43,075 N/A

Adjustments to Number of Units for:

Missing Data 13,013 5,496 N/A

Total Multifamily:

UPB ($ Million) $15,285 $2,807 $28,216 

Number of Mortgages 2,415 1,734 2,840

Number of Mortgages with both 5-50 and >50 Unit 

Properties*

4 4 5

Number of Properties 2,446 1,749 2,874

Number of Units 313,584 72,575 430,751

Number of Units (Adjusted) 326,597 78,071 430,751

Goals Performance

Fannie Mae's Multifamily Goals (units) 265,000 70,000

Goal Performance (units) 326,597 78,071

Units may count toward more than one goal. On certain tables, sum of entries may not equal totals, due to rounding.

* Mortgages can double count when secured by both 5-50 and > 50 unit properties.

Table 1B

Fannie Mae's Mortgage Purchases by Property Size and Housing Goal Status

Summary Table on Multifamily Housing Goal Performance

For Calendar Year 2013

Qualifying Low-Income Purchases Qualifying Very Low-Income 

Purchases
Total Mortgages Eligible Qualifying Low-Income

To Qualify as Refinance Mortgages1 All Mortgage Purchases

Low-Income Refinance1

Purchase of Loan Modifications of AtRisk Mortgages

 Owner-Occupied 1-Unit 

Properties/Mortgages:

 UPB ($ Millions) $3,106 $1,902 $4,621 

 Number of Mortgages 15,750 11,516 23,129

 Owner-Occupied 2-4 Unit 

Properties/Mortgages:

 UPB ($ Millions) $231 $77 $361 

 Number of Mortgages 728 342 1,115

 Total Loan Modifications of At-Risk 

Mortgages:

 UPB ($ Millions) $3,337 $1,979 $4,981 

 Number of Mortgages 16,478 11,858 24,244

1

An Enterprise's modification of a loan in accordance with the Make Home Affordable program announced on March 4, 2009,

that is held in the Enterprise's portfolio or that is in a pool backing a security guaranteed by the Enterprise, shall be treated as

a mortgage purchase for the purposes of the housing goals.

Table 1C

Fannie Mae's Mortgage Purchases by Mortgage Type and Housing Goal Status

Mortgages from At-Risk Loans that were Modified

For Calendar Year 2013
Qualifying Qualifying Very Qualifying Low- Qualifying Total Purchase Total Refinance Total Mortgages

Low-Income Low-Income Income Area Low-Income Money Mortgages Acquired

Purchase Money Purchase Money Purchase Money Refinance Mortgages Acquired

Mortgages Mortgages Mortgages Mortgages Acquired

Income No More Than 50% of Median Income

 $UPB(Millions) $4,934 $4,934 $2,633 $19,905 $5,009 $20,515 $25,524 

 Number of Mortgages 48,810 48,810 26,007 170,802 49,697 175,768 225,465

 Portion of Qualifying or Total Mortgages Acquired 25.20% 100.00% 14.76% 32.13% 5.59% 7.75% 7.14%

Income More Than 50% But No More Than 60% of 

Median Income

 $UPB(Millions) $5,470 $0 $2,736 $13,580 $5,569 $13,914 $19,482 

 Number of Mortgages 42,271 0 20,928 102,926 43,224 105,149 148,373

 Portion of Qualifying or Total Mortgages Acquired 21.83% 0.00% 11.88% 19.36% 4.86% 4.63% 4.70%

Income More Than 60% But No More Than 80% of 

Median Income

 $UPB(Millions) $16,045 $0 $7,618 $38,202 $16,373 $38,978 $55,351 

 Number of Mortgages 102,579 0 48,153 256,677 105,417 261,450 366,867

 Portion of Qualifying or Total Mortgages Acquired 52.97% 0.00% 27.33% 48.28% 11.85% 11.52% 11.62%

Income More Than 80% But No More Than 100% of 

Median Income

 $UPB(Millions) $0 $0 $8,817 $0 $20,343 $47,774 $68,117 

 Number of Mortgages 0 0 46,104 0 108,790 279,366 388,156

 Portion of Qualifying or Total Mortgages Acquired 0.00% 0.00% 26.17% 0.00% 12.23% 12.31% 12.29%

Income More Than 100% But No More Than 120% of 

Median Income

 $UPB(Millions) $0 $0 $2,067 $0 $22,018 $50,631 $72,649 

 Number of Mortgages 0 0 9,907 0 102,920 265,460 368,380

 Portion of Qualifying or Total Mortgages Acquired 0.00% 0.00% 5.62% 0.00% 11.57% 11.70% 11.66%

Income More Than 120% of Median Income

 $UPB(Millions) $0 $0 $6,521 $0 $131,700 $289,412 $421,111 

 Number of Mortgages 0 0 25,070 0 477,450 1,174,065 1,651,515

 Portion of Qualifying or Total Mortgages Acquired 0.00% 0.00% 14.23% 0.00% 53.66% 51.75% 52.29%

Missing

 $UPB(Millions) $0 $0 $0 $0 $441 $1,350 $1,790 

 Number of Mortgages 0 0 0 1,206 2,190 7,520 9,710

 Portion of Qualifying or Total Mortgages Acquired 0.00% 0.00% 0.00% 0.23% 0.25% 0.33% 0.31%

All Income Levels2

 $UPB(Millions) $26,449 $4,934 $30,391 $71,686 $201,452 $462,574 $664,026 

 Number of Mortgages 193,660 48,810 176,169 531,611 889,688 2,268,778 3,158,466

 Portion of Qualifying or Total Mortgages Acquired 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

1

Based on actual Borrower Incomes before affordability estimation. Mortgage where affordability was estimated are included in "Missing"

2

Includes Missing

Table 2

Distribution of Single-Family Owner-Occupied Mortgages

Purchased by Fannie Mae

By Income Class of Mortgagor(s)1

For Calendar Year 2013
Qualifying Low-Income 

Purchases

Qualifying Very LowIncome PurchasesTotal Units Financed

Affordable At No More Than 30% Of Median Income

$UPB(MILLIONS) $1,043 $1,043 $1,043 

Number of Units 19,470 19,470 19,470

Affordable At More Than 30% but No More than 50% Of Median Income

$UPB(MILLIONS) $1,764 $1,764 $1,764 

Number of Units 53,105 53,105 53,105

Affordable At More Than 50% but No More than 60% Of Median Income

$UPB(MILLIONS) $4,181 $4,181 

Number of Units 101,603 101,603

Affordable At More Than 60% but No More than 80% Of Median Income

$UPB(MILLIONS) $8,297 $8,297 

Number of Units 139,406 139,406

Affordable At More Than 80% but No More than 100% Of Median Income

$UPB(MILLIONS) $4,682 

Number of Units 52,263

Affordable At More Than 100% but No More than 120% Of Median Income

$UPB(MILLIONS) $2,696 

Number of Units 21,191

Affordable At More Than 120% Of Median Income

$UPB(MILLIONS) $3,517 

Number of Units 19,344

Tenant Rent Missing

$UPB(MILLIONS) $2,036 

Number of Units 24,369

All Income Levels2

$UPB(MILLIONS) $15,285 $2,807 $28,216 

Number of Units 313,584 72,575 430,751

Portion of Qualifying or Total Units Financed 100.00% 100.00% 100.00%

1

Based on actual rents before affordability estimation. Units where affordability was estimated, including all units in senior housing facilities and cooperatives, are included 

in "Tenant Rent Missing."

2

Includes Missing.

Portion of Qualifying or Total Units Financed 4.49%

Portion of Qualifying or Total Units Financed 5.66%

Portion of Qualifying or Total Units Financed 12.13%

Portion of Qualifying or Total Units Financed 4.92%

Portion of Qualifying or Total Units Financed 32.40% 23.59%

Portion of Qualifying or Total Units Financed 44.46% 32.36%

Portion of Qualifying or Total Units Financed 6.21% 26.83% 4.52%

Portion of Qualifying or Total Units Financed 16.93% 73.17% 12.33%

Table 3

Distribution of Rental Units

Financed by Multifamily Mortgages Purchased by Fannie Mae

By Affordability of Rent1

For Calendar Year 2013
Total Mortgages

Qualifying Low- Eligible To Qualify

Family Income <= 

100% of Area 

Median1

Family Income > 

100% of Area 

Median1

Family Income <= 

100% of Area 

 Median1

Family Income >

100% of Area 

 Median1

Income Area 

Purchase Money 

Mortgages1

As Low-Income 

 Area Purchase 

Money

Tract Income <= 80% of Area Median

 $UPB(Millions) $1,915 $2,435 $5,477 $6,153 $15,981 $15,981 

 Number of Mortgages 13,617 9,932 37,836 25,045 86,430 86,431

 Percentage of Eligible 15.75% 11.49% 43.78% 28.98% 100.00% 100.00%

80% < Tract Income < 100% of Area Median and Tract >= 30% Minority

 $UPB(Millions) $910 $0 $3,643 $0 $4,553 $12,189 

 Number of Mortgages 6,213 0 21,212 0 27,425 55,346

 Percentage of Eligible 11.23% 0.00% 38.33% 0.00% 49.55% 100.00%

80% < Tract Income < 100% of Area Median and Tract < 30% Minority

 $UPB(Millions) $1,642 $0 $0 $0 $1,642 $13,993 

 Number of Mortgages 12,013 0 0 0 12,013 84,844

 Percentage of Eligible 14.16% 0.00% 0.00% 0.00% 14.16% 100.00%

Tract Income >= 100% of Area Median2

 $UPB(Millions) $8,216 $0 $0 $0 $8,216 $144,726 

 Number of Mortgages 50,301 0 0 0 50,301 587,445

 Percentage of Eligible 8.56% 0.00% 0.00% 0.00% 8.56% 100.00%

Total

 $UPB(Millions) $12,684 $2,435 $9,120 $6,153 $30,391 $186,889 

 Number of Mortgages 82,144 9,932 59,048 25,045 176,169 814,066

 Percentage of Eligible 10.09% 1.22% 7.25% 3.08% 21.64% 100.00%

Table 4

Fannie Mae Single-Family Owner-Occupied Mortgage Purchases

Qualifying for the Low-Income Area Purchase Goal

by Method of Qualification

For Calendar Year 2013

1

Includes mortgages where affordability was estimated.

2

Includes tracts with missing median incomes or missing percent minority.

Tract is in a Designated Disaster Area Tract is not in a Designated Disaster Area
Qualifying Qualifying Very Qualifying Low- Qualifying Total Purchase Total Refinance Total Mortgages

Low-Income Low-Income Income Area Low-Income Money Mortgages Acquired

Purchase Money Purchase Money Purchase Money Refinance Mortgages Acquired

Mortgages Mortgages Mortgages Mortgages Acquired

American Indian or Alaskan Native2

 $UPB(Millions) $87 $21 $105 $408 $450 $1,366 $1,816 

 Number of Mortgages 640 195 614 3,104 2,148 7,981 10,129

 

 Portion of Qualifying or Total 

Mortgages Acquired

0.33% 0.40% 0.35% 0.58% 0.24% 0.35% 0.32%

 

Asian2

 $UPB(Millions) $2,509 $479 $3,524 $4,744 $19,697 $36,426 $56,123 

 Number of Mortgages 14,084 3,765 15,574 25,591 67,811 130,453 198,264

 

 Portion of Qualifying or Total 

Mortgages Acquired

7.27% 7.71% 8.84% 4.81% 7.62% 5.75% 6.28%

 

Black or African American2

 $UPB(Millions) $676 $141 $933 $3,904 $3,756 $13,680 $17,436 

 Number of Mortgages 5,024 1,384 5,926 29,624 18,310 80,134 98,444

 

 Portion of Qualifying or Total 

Mortgages Acquired

2.59% 2.84% 3.36% 5.57% 2.06% 3.53% 3.12%

 

Native Hawaiian or Other Pacific 

Islander2

 $UPB(Millions) $88 $16 $111 $328 $532 $1,509 $2,041 

 Number of Mortgages 563 153 558 1,924 2,141 6,459 8,600

 

 Portion of Qualifying or Total 

Mortgages Acquired

0.29% 0.31% 0.32% 0.36% 0.24% 0.28% 0.27%

 

White - Hispanic or Latino3

 $UPB(Millions) $1,931 $443 $2,535 $6,080 $11,379 $27,370 $38,749 

 Number of Mortgages 14,474 4,397 15,826 42,054 53,601 141,600 195,201

 

 Portion of Qualifying or Total 

Mortgages Acquired

7.47% 9.01% 8.98% 7.91% 6.02% 6.24% 6.18%

 

White - Non Hispanic or Latino

 $UPB(Millions) $19,138 $3,509 $20,267 $47,486 $144,324 $320,157 $464,481 

 Number of Mortgages 145,160 35,858 122,755 369,079 662,154 1,620,390 2,282,544

 

 Portion of Qualifying or Total 

Mortgages Acquired

74.96% 73.46% 69.68% 69.43% 74.43% 71.42% 72.27%

 

Two or More Minority Races4

 $UPB(Millions) $14 $1 $19 $69 $87 $284 $371 

 Number of Mortgages 82 10 90 476 337 1,401 1,738

 

 Portion of Qualifying or Total 

Mortgages Acquired

0.04% 0.02% 0.05% 0.09% 0.04% 0.06% 0.06%

 

Joint - either Borrower or Co-Borrower 

are of a Minority Group5

 $UPB(Millions) $176 $17 $416 $664 $3,982 $8,896 $12,878 

 Number of Mortgages 1,096 148 1,789 4,226 14,071 36,383 50,454

 

 Portion of Qualifying or Total 

Mortgages Acquired

0.57% 0.30% 1.02% 0.79% 1.58% 1.60% 1.60%

 

Information not Provided by Borrower or 

Co-Borrower6

 $UPB(Millions) $1,830 $307 $2,481 $7,693 $17,245 $52,218 $69,463 

 Number of Mortgages 12,537 2,900 13,037 52,955 69,115 239,114 308,229

 

 Portion of Qualifying or Total 

Mortgages Acquired

6.47% 5.94% 7.40% 9.96% 7.77% 10.54% 9.76%

 

Not Applicable

 $UPB(Millions) $0 $0 $0 $12 $0 $29 $29 

 Number of Mortgages 0 0 0 78 0 161 161

 

 Portion of Qualifying or Total 

Mortgages Acquired

0.00% 0.00% 0.00% 0.01% 0.00% 0.01% 0.01%

 

Data not Provided by Loan Seller

 $UPB(Millions) $0 $0 $0 $299 $0 $637 $637 

 Number of Mortgages 0 0 0 2,499 0 4,702 4,702

 

 Portion of Qualifying or Total 

Mortgages Acquired

0.00% 0.00% 0.00% 0.47% 0.00% 0.21% 0.15%

 

Total

 $UPB(Millions) $26,449 $4,934 $30,391 $71,686 $201,452 $462,574 $664,026 

 Number of Mortgages 193,660 48,810 176,169 531,611 889,688 2,268,778 3,158,466

 

 Portion of Qualifying or Total 

Mortgages Acquired

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

 

Table 5A

Distribution of Single-Family Owner-Occupied Mortgage Purchases

By Race of Borrower(s) on Loan Application1

For Calendar Year 2013

1

Borrowers are asked to report both Race and Ethnicity. Race associated with the loan is based on data for the borrower and, if any, co-borrower. Borrower and co-borrower may be identified with any

combination of, and up to, 5 race categories: (1) American Indian or Alaska Native, (2) Asian, (3) Black or African American, (4) Native Hawaiian or Other Pacific Islander, and (5) White. A borrower or coborrower identified as both White and one minority race is classified as the minority race. If race is known for one borrower but not the other borrower, the loan is classified according to the known race. A

loan where one borrower is identified as White and the race of the other borrower is missing, or where both the borrower and co-borrower are identified as White, is categorized in one of the two White

categories. Separately, ethnicity associated with a loan also is based on data for the borrower and, if any, co-borrower. Borrower and co-borrower may choose either (1) Hispanic or Latino or (2) Not

5

If either the borrower or co-borrower is identified as one or more minority race(s) and the other borrower is identified as White, the loan is classified as "Joint."

6

This category consists of mortgages where borrower and co-borrower race information is not provided in mail, internet, or telephone application, even if ethnicity data are reported.

Hispanic or Latino. In this table, the White race category is further categorized as either "Hispanic or Latino," or "Not Hispanic or Latino." Table 5B shows the ethnicity distribution of all loans acquired.

2

If the borrower and co-borrower are both identified as the same minority race or different minority races, the loan is classified as the race of the borrower.

3

If the loan is classified as White (see footnote 1) and if either borrower or co-borrower is identified as Hispanic or Latino, the loan is classified as "White - Hispanic or Latino." The category "White - NonHispanic or Latino" includes loans where borrower and co-borrower are both identified as "Not Hispanic or Latino" or when the ethnicity is missing for both borrowers.

4

The loan is classified as "Two or More Minority Races" where: the borrower is identified as two or more minority races and either there is no co-borrower or the co-borrower is identified as one or more

minority races, or one borrower's race is missing and the other borrower is identified as two or more minority races.
Qualifying Qualifying Very Qualifying Low- Qualifying Total Purchase Total Refinance Total Mortgages

Low-Income Low-Income Income Area Low-Income Money Mortgages Acquired

Purchase Money Purchase Money Purchase Money Refinance Mortgages Acquired

Mortgages Mortgages Mortgages Mortgages Acquired

Borrower and Co-Borrower are Hispanic or Latino:

 $UPB(Millions) $1,944 $466 $2,426 $6,650 $8,930 $23,493 $32,423 

 Number of Mortgages 14,621 4,619 15,518 46,134 44,723 127,765 172,488

 

 Portion of Qualifying or Total Mortgages Acquired 7.55% 9.46% 8.81% 8.68% 5.03% 5.63% 5.46%

 

Borrower and Co-Borrower are not Hispanic or Latino:

 $UPB(Millions) $22,664 $4,178 $25,309 $57,257 $172,803 $381,194 $553,997 

 Number of Mortgages 166,361 41,426 146,857 431,136 766,270 1,874,962 2,641,232

 

 Portion of Qualifying or Total Mortgages Acquired 85.90% 84.87% 83.36% 81.10% 86.13% 82.64% 83.62%

 

Joint - Either Borrower or Co-Borrower are Hispanic or Latino:2

 $UPB(Millions) $170 $17 $374 $717 $3,660 $8,697 $12,356 

 Number of Mortgages 1,127 156 1,782 4,713 14,007 38,929 52,936

 

 Portion of Qualifying or Total Mortgages Acquired 0.58% 0.32% 1.01% 0.89% 1.57% 1.72% 1.68%

 

Information not Provided by Borrower or Co-Borrower:3

 $UPB(Millions) $1,672 $272 $2,282 $6,738 $16,059 $48,481 $64,540 

 Number of Mortgages 11,551 2,609 12,012 46,964 64,688 222,058 286,746

 

 Portion of Qualifying or Total Mortgages Acquired 5.96% 5.35% 6.82% 8.83% 7.27% 9.79% 9.08%

 

Not Applicable:

 $UPB(Millions) $0 $0 $0 $20 $0 $54 $54 

 Number of Mortgages 0 0 0 131 0 287 287

 

 Portion of Qualifying or Total Mortgages Acquired 0.00% 0.00% 0.00% 0.02% 0.00% 0.01% 0.01%

 

Data Not Provided by Loan Seller:

 $UPB(Millions) $0 $0 $0 $304 $0 $655 $655 

 Number of Mortgages 0 0 0 2,533 0 4,777 4,777

 

 Portion of Qualifying or Total Mortgages Acquired 0.00% 0.00% 0.00% 0.48% 0.00% 0.21% 0.15%

 

Total:

 $UPB(Millions) $26,449 $4,934 $30,391 $71,686 $201,452 $462,574 $664,026 

 Number of Mortgages 193,660 48,810 176,169 531,611 889,688 2,268,778 3,158,466

 

 Portion of Qualifying or Total Mortgages Acquired 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

 

1

If ethnicity is known for one borrower but not the other, loan is classified according to the known ethnicity.

2

Joint means one Borrower is of Hispanic or Latino ethnicity and the other is not, in any order.

3

This category consists of mortgages where borrower and co-borrower ethnicity (as Hispanic/Latino or not) information is not provided in mail, internet, or telephone application, even if race data are reported.

Table 5B

Distribution of Single-Family Owner-Occupied Mortgage Purchases

By Ethnicity of Borrower(s) on Loan Application1

For Calendar Year 2013
Qualifying Low-Income 

Purchase Money 

Mortgages

Qualifying Very LowIncome Purchase 

Money Mortgages

Qualifying Low-Income 

Area Purchase Money 

Mortgages

Qualifying Low-Income 

Refinance Mortgages

Total Purchase Money 

Mortgages Acquired

Total Refinance 

Mortgages Acquired

Total Mortgages 

Acquired

All Male: 

 $UPB(Millions) $10,033 $1,873 $11,056 $21,217 $58,312 $109,153 $167,465 

 Number of Mortgages 73,218 18,498 65,107 157,138 266,581 542,433 809,014

 Portion of Qualifying or Total 

Mortgages Acquired

37.81% 37.90% 36.96% 29.56% 29.96% 23.91% 25.61%

 

All Female: 

 $UPB(Millions) $10,326 $2,310 $9,301 $25,089 $36,183 $77,975 $114,159 

 Number of Mortgages 78,131 23,281 59,121 196,093 190,381 451,186 641,567

 Portion of Qualifying or Total 

Mortgages Acquired

40.34% 47.70% 33.56% 36.89% 21.40% 19.89% 20.31%

 

Male and Female: 

 $UPB(Millions) $5,242 $606 $8,925 $21,397 $98,439 $247,793 $346,232 

 Number of Mortgages 36,339 5,629 46,006 149,836 397,794 1,143,139 1,540,933

 Portion of Qualifying or Total 

Mortgages Acquired

18.76% 11.53% 26.11% 28.19% 44.71% 50.39% 48.79%

 

Not Applicable: 

 $UPB(Millions) $0 $0 $0 $9 $0 $21 $21 

 Number of Mortgages 0 0 0 48 0 96 96

 Portion of Qualifying or Total 

Mortgages Acquired

0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00%

 

Not Provided: 

 $UPB(Millions) $849 $144 $1,110 $3,970 $8,517 $27,618 $36,135 

 Number of Mortgages 5,972 1,402 5,935 28,438 34,932 131,816 166,748

 Portion of Qualifying or Total 

Mortgages Acquired

3.08% 2.87% 3.37% 5.35% 3.93% 5.81% 5.28%

 

Missing: 

 $UPB(Millions) $0 $0 $0 $5 $0 $14 $14 

 Number of Mortgages 0 0 0 58 0 108 108

 Portion of Qualifying or Total 

Mortgages Acquired

0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00%

 

Total: 

 $UPB(Millions) $26,449 $4,934 $30,391 $71,686 $201,452 $462,574 $664,026 

 Number of Mortgages 193,660 48,810 176,169 531,611 889,688 2,268,778 3,158,466

 Portion of Qualifying or Total 

Mortgages Acquired

100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

 

1

Borrower and Co-Borrower with a Not Provided or Not Applicable are placed in the specific gender of the Borrower or Co-Borrower.

Table 6

Distribution of Single-Family Owner-Occupied Mortgage Purchases

By Gender of Borrower(s)1

For Calendar Year 2013
Qualifying Low-Income 

Purchase Money 

Mortgages

Qualifying Very LowIncome Purchase 

Money Mortgages

Qualifying Low-Income 

Area Purchase Money 

Mortgages

Qualifying Low-Income 

Refinance Mortgages

Total Purchase Money 

Mortgages Acquired

Total Refinance 

Mortgages Acquired

Total Mortgages 

Acquired

Minority < 10% 43,851 10,911 25,736 122,061 207,822 539,630 747,452

10% <= Minority < 20% 48,806 11,745 31,035 114,877 238,740 551,016 789,756

20% <= Minority < 30% 30,734 7,542 21,934 75,377 147,809 356,032 503,841

30% <= Minority < 50% 35,495 9,006 40,980 93,301 166,943 412,035 578,978

50% <= Minority < 80% 24,502 6,750 37,663 76,280 94,668 275,925 370,593

80% <= Minority <= 100% 10,271 2,856 18,771 49,707 31,428 132,382 163,810

Tract Missing / Unable to Classify 1 0 50 9 2,278 1,758 4,036

Total: 193,660 48,810 176,169 531,611 889,688 2,268,778 3,158,466

Table 7

Distribution of Single-Family Owner-Occupied Mortgage Purchases

By Minority Concentration of Census Tract

For Calendar Year 2013
Qualifying Low- Qualifying Very LowIncome Units Income Units Total Units Financed

Minority < 10% 13,111 3,255 18,158

10% <= Minority < 20% 38,276 5,561 54,271

20% <= Minority < 30% 42,616 5,774 61,818

30% <= Minority < 50% 80,350 14,845 114,177

50% <= Minority < 80% 85,807 21,600 117,789

80% <= Minority <= 100% 53,424 21,540 64,215

Tract Missing / Unable to Classify 0 0 323

Total: 313,584 72,575 430,751

Table 8

Distribution of Fannie Mae's Multifamily Mortgage Purchases

By Minority Concentration of Census Tract

For Calendar Year 2013
Qualifying LowIncome Purchase 

Money Mortgages

Qualifying Very LowIncome Purchase 

Money Mortgages

Qualifying LowIncome Area 

Purchase Money 

Mortgages

Qualifying LowIncome Refinance 

Mortgages

Total Purchase 

Money Mortgages 

Acquired

Total Refinance 

Mortgages Acquired

Total Mortgages 

Acquired

Income <=50% of Median Income

 Minority < 10% 10,911 10,911 3,727 36,174 11,236 37,413 48,649

 10% <= Minority < 30% 19,287 19,287 7,646 58,923 19,560 60,525 80,085

 30% <= Minority < 50% 9,006 9,006 6,491 30,027 9,140 30,828 39,968

 50% <= Minority < 80% 6,750 6,750 5,497 26,496 6,861 27,222 34,083

 80% <= Minority <= 100% 2,856 2,856 2,646 19,180 2,900 19,778 22,678

 Tract Missing / Unable to Classify 0 0 0 2 0 2 2

 Subtotal 48,810 48,810 26,007 170,802 49,697 175,768 225,465

50% < Income <=60% of MSA Median Income

 Minority < 10% 9,448 0 3,244 23,974 9,761 24,523 34,284

 10% <= Minority < 30% 17,546 0 6,673 36,675 17,889 37,393 55,282

 30% <= Minority < 50% 7,753 0 5,075 17,933 7,908 18,283 26,191

 50% <= Minority < 80% 5,264 0 3,954 14,673 5,367 14,993 20,360

 80% <= Minority <= 100% 2,260 0 1,982 9,669 2,299 9,955 12,254

 Tract Missing / Unable to Classify 0 0 0 2 0 2 2

 Subtotal 42,271 0 20,928 102,926 43,224 105,149 148,373

60% < Income <=80% of MSA Median Income

 Minority < 10% 23,492 0 8,034 61,467 24,383 62,705 87,088

 10% <= Minority < 30% 42,707 0 15,828 94,245 43,748 95,753 139,501

 30% <= Minority < 50% 18,736 0 11,204 45,198 19,219 45,989 65,208

 50% <= Minority < 80% 12,488 0 8,692 34,997 12,816 35,691 48,507

 80% <= Minority <= 100% 5,155 0 4,394 20,765 5,250 21,307 26,557

 Tract Missing / Unable to Classify 1 0 1 5 1 5 6

 Subtotal 102,579 0 48,153 256,677 105,417 261,450 366,867

80% < Income <=100% of MSA Median Income

 Minority < 10% 0 0 8,132 0 25,080 67,976 93,056

 10% <= Minority < 30% 0 0 15,779 0 45,516 105,154 150,670

 30% <= Minority < 50% 0 0 10,571 0 20,402 49,636 70,038

 50% <= Minority < 80% 0 0 7,742 0 12,866 37,080 49,946

 80% <= Minority <= 100% 0 0 3,879 0 4,925 19,509 24,434

 Tract Missing / Unable to Classify 0 0 1 0 1 11 12

 Subtotal 0 0 46,104 0 108,790 279,366 388,156

100% < Income <=120% of MSA Median Income

 Minority < 10% 0 0 751 0 23,915 64,736 88,651

 10% <= Minority < 30% 0 0 2,064 0 43,774 103,021 146,795

 30% <= Minority < 50% 0 0 2,123 0 19,452 48,069 67,521

 50% <= Minority < 80% 0 0 3,138 0 11,720 33,908 45,628

 80% <= Minority <= 100% 0 0 1,830 0 4,058 15,710 19,768

 Tract Missing / Unable to Classify 0 0 1 0 1 16 17

 Subtotal 0 0 9,907 0 102,920 265,460 368,380

120% MSA Median Income < Income

 Minority < 10% 0 0 1,848 0 113,444 280,020 393,464

 10% <= Minority < 30% 0 0 4,979 0 216,062 502,853 718,915

 30% <= Minority < 50% 0 0 5,516 0 90,821 218,570 309,391

 50% <= Minority < 80% 0 0 8,640 0 45,038 126,581 171,619

 80% <= Minority <= 100% 0 0 4,040 0 11,996 45,860 57,856

 Tract Missing / Unable to Classify 0 0 47 0 89 181 270

 Subtotal 0 0 25,070 0 477,450 1,174,065 1,651,515

Borrower Income Missing

 Minority < 10% 0 0 0 446 3 2,257 2,260

 10% <= Minority < 30% 0 0 0 411 0 2,349 2,349

 30% <= Minority < 50% 0 0 0 143 1 660 661

 50% <= Minority < 80% 0 0 0 114 0 450 450

 80% <= Minority <= 100% 0 0 0 93 0 263 263

 Tract Missing / Unable to Classify 0 0 0 0 2,186 1,541 3,727

 Subtotal 0 0 0 1,206 2,190 7,520 9,710

Total: 193,660 48,810 176,169 531,611 889,688 2,268,778 3,158,466

Table 9

Distribution of Single-Family Owner-Occupied Mortgage Purchases

Minority Percentage of Census Tract by Income of Borrower

For Calendar Year 2013
Qualifying LowIncome Purchase 

Money Mortgages

Qualifying Very 

Low-Income 

Purchase Money 

Mortgages

Qualifying LowIncome Area 

Purchase Money 

Mortgages

Qualifying LowIncome Refinance 

Mortgages

Total Purchase 

Money Mortgages 

Acquired

Total Refinance 

Mortgages 

Acquired

Total Mortgages 

Acquired

Alabama 1,804 470 2,588 5,721 9,975 26,666 36,641

Alaska 425 74 276 1,270 1,838 4,602 6,440

Arizona 5,338 1,457 3,206 15,554 27,737 61,483 89,220

Arkansas 931 241 1,512 2,843 5,531 13,411 18,942

California 16,955 3,405 20,825 80,385 104,497 401,148 505,645

Colorado 7,884 2,093 4,945 17,216 30,707 60,191 90,898

Connecticut 2,609 696 4,132 8,000 8,412 28,833 37,245

Delaware 748 206 428 2,313 3,428 8,418 11,846

District of Columbia 707 185 1,041 1,705 2,540 5,970 8,510

Florida 8,899 2,116 9,470 28,708 56,605 119,344 175,949

Georgia 4,295 1,144 3,667 14,730 23,970 62,795 86,765

Hawaii 718 148 817 2,643 3,211 10,326 13,537

Idaho 2,659 768 1,005 3,481 8,515 12,874 21,389

Illinois 9,951 2,841 9,937 22,430 36,851 95,202 132,053

Indiana 4,301 1,135 1,476 10,536 16,200 36,715 52,915

Iowa 3,812 1,166 3,480 7,194 11,541 24,363 35,904

Kansas 1,533 359 474 3,432 6,348 13,808 20,156

Kentucky 2,017 584 2,835 4,325 7,783 16,705 24,488

Louisiana 1,606 320 2,344 4,264 9,758 22,468 32,226

Maine 318 92 88 2,048 1,716 8,051 9,767

Maryland 4,210 1,260 2,674 17,607 13,917 54,905 68,822

Massachusetts 6,233 1,379 10,130 15,564 21,208 64,540 85,748

Michigan 6,875 1,914 1,937 20,803 28,125 81,199 109,324

Minnesota 7,713 2,462 2,931 15,146 23,045 50,576 73,621

Mississippi 581 112 817 2,271 3,993 12,343 16,336

Missouri 3,800 1,042 2,606 11,843 14,242 41,982 56,224

Montana 857 203 1,174 2,254 3,718 8,599 12,317

Nebraska 2,314 642 2,273 4,029 7,328 15,309 22,637

Nevada 2,408 787 1,284 5,566 9,827 19,033 28,860

New Hampshire 958 265 406 3,597 3,287 12,206 15,493

New Jersey 4,191 732 7,706 12,975 24,992 75,151 100,143

New Mexico 962 263 759 3,117 4,799 12,496 17,295

New York 6,226 1,091 11,186 16,464 34,709 92,794 127,503

North Carolina 4,186 1,057 4,683 13,300 23,586 58,026 81,612

North Dakota 561 127 436 948 2,467 4,416 6,883

Ohio 6,530 1,720 2,059 15,247 24,778 57,826 82,604

Oklahoma 1,889 437 2,372 3,139 10,220 15,613 25,833

Oregon 3,195 795 2,321 8,114 16,031 34,909 50,940

Pennsylvania 8,052 1,943 10,132 18,373 30,992 75,836 106,828

Rhode Island 687 141 1,088 1,846 2,479 7,293 9,772

South Carolina 2,238 564 1,363 6,039 13,083 26,852 39,935

South Dakota 998 303 311 1,871 3,393 6,944 10,337

Tennessee 2,926 674 4,702 7,852 14,745 32,682 47,427

Texas 11,144 2,238 11,084 20,762 82,122 128,126 210,248

Utah 3,981 992 1,483 6,673 13,278 24,560 37,838

Vermont 313 83 503 1,236 1,198 4,580 5,778

Virginia 6,046 1,668 4,096 20,381 22,716 73,238 95,954

Washington 7,828 2,133 5,101 16,976 30,469 66,990 97,459

West Virginia 339 101 396 1,389 1,653 5,974 7,627

Wisconsin 7,223 2,009 3,032 15,531 22,000 57,043 79,043

Wyoming 611 166 219 1,326 2,366 4,634 7,000

Guam 2 0 19 6 39 114 153

Puerto Rico 72 7 290 562 1,619 8,382 10,001

Virgin Islands 1 0 50 9 92 217 309

Unable to Geocode 0 0 0 0 9 17 26

Total 193,660 48,810 176,169 531,611 889,688 2,268,778 3,158,466

Table 10A

Distribution of Fannie Mae's

Single-Family Owner-Occupied Mortgage Purchases

By State and Territory

For Calendar Year 2013
Qualifying Low- Qualifying Very LowIncome Units Income Units Total Units Financed

Alabama 7,221 613 8,395

Alaska 894 35 1,071

Arizona 7,614 1,968 9,384

Arkansas 2,603 609 2,679

California 18,066 3,340 49,884

Colorado 8,331 3,372 9,779

Connecticut 1,489 564 2,113

Delaware 1,968 258 1,980

District of Columbia 1,314 1,020 3,099

Florida 14,055 1,714 22,451

Georgia 17,737 3,145 21,520

Hawaii 21 4 21

Idaho 1,205 183 1,213

Illinois 10,930 2,825 14,993

Indiana 3,550 1,159 4,149

Iowa 3,301 1,142 3,697

Kansas 2,590 1,382 2,963

Kentucky 3,325 529 3,610

Louisiana 3,703 293 4,224

Maine 470 26 643

Maryland 9,929 2,784 12,481

Massachusetts 1,713 631 3,599

Michigan 8,170 1,164 11,373

Minnesota 2,760 696 3,332

Mississippi 2,418 196 3,336

Missouri 6,476 3,042 6,886

Montana 206 104 206

Nebraska 1,264 579 1,509

Nevada 5,970 968 6,368

New Hampshire 1,188 11 1,291

New Jersey 1,997 1,068 4,479

New Mexico 2,018 327 2,167

New York 7,575 1,737 23,469

North Carolina 12,480 2,590 14,677

North Dakota 306 58 330

Ohio 10,451 2,796 11,867

Oklahoma 3,735 1,143 3,898

Oregon 4,989 477 6,373

Pennsylvania 6,240 996 8,834

Rhode Island 1,221 204 1,630

South Carolina 7,682 709 8,651

South Dakota 281 208 283

Tennessee 4,963 890 6,729

Texas 73,829 18,851 87,503

Utah 2,434 253 2,632

Vermont 0 0 0

Virginia 8,591 3,272 11,529

Washington 10,301 1,305 12,678

West Virginia 528 42 542

Wisconsin 2,703 1,009 3,205

Wyoming 779 284 1,026

Guam 0 0 0

Puerto Rico 0 0 0

Virgin Islands 0 0 0

Other Territories 0 0 0

Unable to Geocode 0 0 0

Total 313,584 72,575 430,751

Table 10B

Distribution of Fannie Mae's

Multifamily Mortgage Purchases

By State And Territory

For Calendar Year 2013
Qualifying Low-Income 

Purchase Money 

Mortgages

Qualifying Very LowIncome Purchase Money 

Mortgages

Qualifying Low-Income 

Area Purchase Money 

Mortgages

Qualifying Low-Income 

Refinance Mortgages

Total Purchase Money 

Mortgages Acquired

Total Refinance 

Mortgages Acquired

Total Mortgages Acquired

0% < LTV <= 60%

 $UPB(Millions) $2,381 $657 $2,044 $19,941 $16,599 $129,718 $146,317 

 Number of Mortgages 21,619 7,597 15,111 171,630 83,847 690,430 774,277

 Portion of Total 11.16% 15.56% 8.58% 32.28% 9.42% 30.43% 24.51%

 

60% < LTV <= 80%

 $UPB(Millions) $12,370 $2,524 $14,589 $27,724 $104,377 $218,546 $322,923 

 Number of Mortgages 89,306 24,505 81,720 197,712 438,997 990,199 1,429,196

 Portion of Total 46.11% 50.20% 46.39% 37.19% 49.34% 43.64% 45.25%

 

80% < LTV <= 90%

 $UPB(Millions) $3,122 $488 $4,090 $7,769 $28,622 $44,513 $73,136 

 Number of Mortgages 21,268 4,583 21,487 55,019 119,046 223,983 343,029

 Portion of Total 10.98% 9.39% 12.20% 10.35% 13.38% 9.87% 10.86%

 

90% < LTV <= 95%

 $UPB(Millions) $6,063 $865 $7,138 $3,646 $40,787 $19,203 $59,989 

 Number of Mortgages 43,271 8,345 42,090 25,285 190,163 98,901 289,064

 Portion of Total 22.34% 17.10% 23.89% 4.76% 21.37% 4.36% 9.15%

 

95% < LTV <= 100%

 $UPB(Millions) $2,514 $399 $2,531 $2,476 $10,967 $9,989 $20,957 

 Number of Mortgages 18,196 3,780 15,761 17,012 56,764 54,532 111,296

 Portion of Total 9.40% 7.74% 8.95% 3.20% 6.38% 2.40% 3.52%

 

100% < LTV

 $UPB(Millions) $0 $0 $0 $10,131 $99 $40,603 $40,702 

 Number of Mortgages 0 0 0 64,954 871 210,726 211,597

 Portion of Total 0.00% 0.00% 0.00% 12.22% 0.10% 9.29% 6.70%

 

Missing LTV

 $UPB(Millions) $0 $0 $0 $0 $0 $2 $2 

 Number of Mortgages 0 0 0 0 0 7 7

 Portion of Total 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

 

Total

 $UPB(Millions) $26,449 $4,934 $30,391 $71,686 $201,452 $462,574 $664,026 

 Number of Mortgages 193,660 48,810 176,169 531,611 889,688 2,268,778 3,158,466

 Portion of Total 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

 

1

 Does not include second mortgages and non-applicable categories.

Table 11

Distribution of Single-Family Owner-Occupied Mortgage Purchases1

By LTV Category

For Calendar Year 2013
Total Total Total Qualifying Low- Total

Mortgages Qualifying Mortgages Qualifying Very Mortgages Qualifying Low- Income Area Mortgages Eligible To Low-Income Eligible To Low-Income Eligible To Income Area Purchase Eligible To 

Qualify As Purchase Qualify As Very Purchase Qualify As Low- Purchase Money Qualify As 

Low-Income Money Low-Income Money Income Area Money Goal Subgoal Low-Income 

Purchase Mortgages Purchase Mortgages Purchase Mortgages Mortgages Refinance1

Money Money Money

HFA Initiative  Owner-Occupied Mortgages: UPB ($ Millions) $19.03 $11.98 $19.03 $3.63 $19.03 $10.62 $5.95  Number of Mortgages 144 103 144 39 144 89 52 

50% Allowable population of HFA Initiative  Owner-Occupied Mortgages: UPB ($ Millions) $9.52 $5.99 $9.52 $1.82 $9.52 $5.31 $2.97  Number of Mortgages 72 52 72 20 72 45 26 Goals Performance Fannie Mae's Single-Family Goals 23% 7% 21% Goals Performance Percentage 71.53% 27.08% 61.81% Fannie Mae's Single-Family Subgoal 11% Subgoal Performance Percentage 36.11%

1 All loans associated with the HFA Initiative are purchase money mortgages.

Supplemental AMR Table 

HFA Initiative Results

Summary Table on Single-Family Housing Goal Performance

Note: When loans financed through the HFA Initiative are included into our scores Fannie Mae's Single-Family Purchase Money goals performance is unchanged: Low-Income PMM - 23.79% vs. 23.79% , Very Low-IncomArea Goal - 21.64% vs. 21.64%, and Low-Income Area Subgoal - 13.99% vs. 13.99%.

For Calendar Year 2013

Confidential - Internal Distribution