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Monday, May 11, 2020 | History

4 edition of Affordable housing goals of government sponsored enterprises found in the catalog.

Affordable housing goals of government sponsored enterprises

hearing before the Subcommittee on Housing and Community Development of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Third Congress, first session, November 19, 1993.

by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Housing and Community Development.

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  • 40 Currently reading

Published by U.S. G.P.O., For sale by the U.S. G.P.O., Supt. of Docs., Congressional Sales Office in Washington .
Written in English

    Places:
  • United States.
    • Subjects:
    • Housing -- Finance -- Government policy -- United States.,
    • Home ownership -- Government policy -- United States.,
    • Secondary mortgage market -- United States.,
    • Government-sponsored enterprises -- United States.

    • Classifications
      LC ClassificationsKF27 .B546 1993a
      The Physical Object
      Paginationiii, 89 p. ;
      Number of Pages89
      ID Numbers
      Open LibraryOL1190721M
      ISBN 10016043954X
      LC Control Number94181511
      OCLC/WorldCa30052806

      The percentage goals for affordable housing are 12% in and 14% in , and each corporation's multifamily mortgage purchase activity must . The Alt-A and interest-only loans that helped topple the GSEs were not especially useful in reaching those income-based affordable-housing goals. The percentage of Fannie Mae's Alt-A loans that counted toward affordable-housing goals fell short of HUD's overall requirements every year between and , according to data from the Financial.

      contributed to the enterprises’ ability to meet affordable housing goals. For example, the enterprises’ multifamily activities constituted percent of their total business in , but about a third of the units used to meet the goal of serving low- and moderate-income persons were multifamily units.   Congress and HUD also pressured Fannie Mae and Freddie Mac. A law, as described by Bernanke, "required the government-sponsored enterprises, Fannie Mae and Freddie Mac, to devote a large percentage of their activities to meeting affordable housing goals." 9 Russell Roberts cited some relevant numbers in the Wall Street Journal.

      They strove to fulfill two contradictory goals: fulfilling the affordable housing goals set by the Department of Housing and Urban Development (“HUD”), while simultaneously producing a healthy return for shareholders. They benefited from a widely held belief that the GSEs’ securities are guaranteed by the federal government.   Federal Housing Finance Agency (FHFA) today proposed a rule that would establish housing goals for the government-sponsored enterprises (GSE) Fannie Mae and Freddie Mac for through The Housing and Economic Recovery Act of requires FHFA to establish annual housing goals for both GSEs.


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Affordable housing goals of government sponsored enterprises by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Housing and Community Development. Download PDF EPUB FB2

Get this from a library. Affordable housing goals of government sponsored enterprises: hearing before the Subcommittee on Housing and Community Development of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Third Congress, first session, Novem [United States.

Congress. House. Committee on Banking. They have pointed to two policies in particular: the Community Reinvestment Act (CRA) of (particularly as modified in the s), which they claim pressured private banks to make risky loans, and HUD affordable housing goals for the government-sponsored enterprises ("GSEs") — Fannie Mae and Freddie Mac — which they claim caused the.

Hollywood Palms Affordable Housing The City of San Diego's goal is to provide sufficient affordable housing opportunities for San Diego residents. This is a challenging goal requiring a comprehensive and coordinated approach.

San Diego's overall housing goals are based on State Redevelopment Law, the City of San Diego Housing Element of the Progress Guide and 64%.

Government Sponsored Enterprise Data Other Datasets The Department of Housing and Urban Development published a wealth of information on the mortgage purchases of Fannie Mae and Freddie Mac, two Government Sponsored Enterprises (GSEs) for which HUD had oversight through mid played by Fannie Mae and Freddie Mac, the Government-Sponsored Enterprises (GSEs), in its causes.

Some have claimed that the Affordable Housing Goals (AHGs), introduced by Congress through the GSE Act ofand the resulting purchases of single-family mortgages the GSEs made to meet those goals, drove lending to high-risk borrowers. – The Federal Housing Finance Agency (FHFA) has adopted a final rule establishing single-family and multifamily housing goals for Fannie Mae and Freddie Mac (the Enterprises) for through Affordable housing goals of government sponsored enterprises book final rule was adopted after FHFA considered more than comments on a proposed housing goals rule issued in August Full text of "Affordable housing goals of government sponsored enterprises: hearing before the Subcommittee on Housing and Community Development of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Third Congress, first session, Novem " See other formats.

The Bush administration continued to raise the affordable-housing goals. Freddie and Fannie dutifully met those goals each and every year until the subprime crisis erupted.

Bywhen both government-sponsored enterprises collapsed, the quota had reached 56%. SUMMARY: Section (b) of the Housing and Economic Recovery Act of (HERA) amended the Federal Housing Enterprises Financial Safety and Soundness Act of (Safety and Soundness Act) to provide for the establishment, monitoring and enforcement of new affordable housing goals effective for and for the Federal National Mortgage.

Downloadable. The U.S. mortgage crisis that began in generated questions about the role played by Fannie Mae and Freddie Mac, the Government-Sponsored Enterprises (GSEs), in its causes.

Some have claimed that the Affordable Housing Goals (AHGs), introduced by Congress through the GSE Act ofand the resulting purchases of single-family mortgages the. National Housing Trust Fund (HTF): Enacted under the Housing and Economic Recovery Act ofHTF is a formula grant program administered by states to increase and preserve the supply of affordable housing, primarily for extremely low-income and very low-income households.

It is funded through assessments from the government sponsored. The Federal Housing Finance Agency (FHFA) recently released the Enterprise Housing Goals, which remain relatively unchanged from FHFA, as required by the Federal Housing Enterprises Financial Safety and Soundness Act ofsets the mortgage purchase goals for the housing government sponsored enterprises (GSEs).

“FHEFSSA” or the “Affordable Housing Goals”)3 requires the U.S. Department of Housing and Urban Development (“HUD”) to set affordable housing goals for the government-sponsored enterprises Fannie Mae and Freddie Mac (respectively, “Fannie” and File Size: KB.

The federal government has played an important role in the U.S. housing mar- ket since the early s, when a number of programs were set up in response to the Great Depression. Infurthermore, HUD revealed the following in its rules and regulations report for that year: "Partly in response to higher affordable housing.

enterprises and conducts regulatory audits of their operations. Increases in the GSEs’ Affordable Housing Goals for In MarchHUD issued a proposed rule, significantly increasing the GSEs’ affordable housing goals for the post period, and this rule was finalized in October.

For each year from throughthe goals are:3File Size: 78KB. These affordable housing goals remain at the center of the GSE reform debate because mortgage defaults and foreclosures among higher risk mortgages were a contributing factor to the recent.

GSE Portfolios, Systemic Risk, and Affordable Housing. Department of Housing and Urban Development (a). "HUD’s Housing Goals for the Federal National Mortgage Shane Sherlund, and Gillian Burgess (). "The Effects of Housing Government-Sponsored Enterprises on Mortgages Rates," Real Estate Finance, vol.

33 (Fall), pp. "Fannie Mae and Freddie Mac: Analysis of Options for Revising the Housing Enterprises' Long-term Structures," Pages Accessed Ma Accessed Ma U.S. Government. The Federal Housing Enterprises Financial Safety and Soundness Act ofas amended (the Safety and Soundness Act), requires FHFA to establish annual housing goals for mortgages purchased by the Enterprises.

The housing goals include separate categories for single-family and multifamily mortgages on housing that is affordable to low-income. A Government-Mandated Housing Bubble. Community Reinvestment Act and the government-sponsored enterprises to meet congressionally mandated affordable housing goals and fulfill the company.The Affordable Housing Goals, Homeownership and Risk: Some Lessons from Past Efforts to Regulate the GSEs John C.

Weicher Director, Center for Housing and Financial Markets Hudson Institute Conference on “The Past, Present, and Future of the Government-Sponsored Enterprises” Federal Reserve Bank of St. Louis Novem File Size: KB.

CoreLogic's Take on GSE Affordable Housing Goals. announced the final goals for affordable housing for mortgages and rental activity financed by the government sponsored enterprises (GSEs.