Regulator tells Fannie, Freddie to expand loans for low-income families

Broader access to housing credit sought

By Peter Fabris, Contributing Editor | September 10, 2015
The regulator overseeing Fannie Mae and Freddie Mac instructed the housing finance giants to back more mortgages and refinancings for low-income families. The Federal Housing Finance Agency released goals for the two government-controlled firms for 2015-2017 that would support the goal to broaden access to housing credit. The new rules direct Fannie Mae and Freddie Mac to expand the number of loans they back for low-income families to 24% of the their purchases of single-family home mortgages over the period, up from a target of 23% in 2014.