[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR81.12]



[Page 437-438]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 81_THE SECRETARY OF HUD'S REGULATION OF THE FEDERAL NATIONAL 

MORTGAGE ASSOCIATION (FANNIE MAE) AND THE FEDERAL HOME LOAN MORTGAGE 

CORPORATION (FREDDIE MAC)--Table of Contents

 

                         Subpart B_Housing Goals

 

Sec.  81.12  Low- and Moderate-Income Housing Goal.



    (a) Purpose of goal. This annual goal for the purchase by each GSE 

of mortgages on housing for low- and moderate-income families (``the 

Low- and Moderate-Income Housing Goal'') is intended to achieve 

increased purchases by the GSEs of such mortgages.

    (b) Factors. In establishing the Low- and Moderate-Income Housing 

Goals, the Secretary considered the factors in 12 U.S.C. 4562(b). A 

statement documenting HUD's considerations and findings with respect to 

these factors, entitled ``Departmental Considerations to Establish the 

Low- and Moderate-Income Housing Goal,'' was published in the Federal 

Register on November 2, 2004.

    (c) Goals. The annual goals for each GSE's purchases of mortgages on 

housing for low- and moderate-income families are:

    (1) For the year 2005, 52 percent of the total number of dwelling 

units financed by that GSE's mortgage purchases unless otherwise 

adjusted by HUD in accordance with FHEFSSA. In addition, as a Low- and 

Moderate-Income Housing Home Purchase Subgoal, 45 percent of the total 

number of home purchase mortgages in metropolitan areas financed by that 

GSE's mortgage purchases shall be home purchase mortgages in 

metropolitan areas which count toward the Low- and Moderate-Income 

Housing Goal in the year 2005 unless otherwise adjusted by HUD in 

accordance with FHEFSSA;

    (2) For the year 2006, 53 percent of the total number of dwelling 

units financed by that GSE's mortgage purchases unless otherwise 

adjusted by HUD in accordance with FHEFSSA. In addition, as a Low- and 

Moderate-Income Housing Home Purchase Subgoal, 46 percent of the total 

number of home purchase



[[Page 438]]



mortgages in metropolitan areas financed by that GSE's mortgage 

purchases shall be home purchase mortgages in metropolitan areas which 

count toward the Low- and Moderate-Income Housing Goal in the year 2006 

unless otherwise adjusted by HUD in accordance with FHEFSSA;

    (3) For the year 2007, 55 percent of the total number of dwelling 

units financed by that GSE's mortgage purchases unless otherwise 

adjusted by HUD in accordance with FHEFSSA. In addition, as a Low- and 

Moderate-Income Housing Home Purchase Subgoal, 47 percent of the total 

number of home purchase mortgages in metropolitan areas financed by that 

GSE's mortgage purchases shall be home purchase mortgages in 

metropolitan areas which count toward the Low- and Moderate-Income 

Housing Goal in the year 2007 unless otherwise adjusted by HUD in 

accordance with FHEFSSA;

    (4) For the year 2008, 56 percent of the total number of dwelling 

units financed by that GSE's mortgage purchases unless otherwise 

adjusted by HUD in accordance with FHEFSSA. In addition, as a Low- and 

Moderate-Income Housing Home Purchase Subgoal, 47 percent of the total 

number of home purchase mortgages in metropolitan areas financed by that 

GSE's mortgage purchases shall be home purchase mortgages in 

metropolitan areas which count toward the Low- and Moderate-Income 

Housing Goal in the year 2008 unless otherwise adjusted by HUD in 

accordance with FHEFSSA; and

    (5) For the year 2009 and thereafter HUD shall establish annual 

goals. Pending establishment of goals for the year 2009 and thereafter, 

the annual goal for each of those years shall be 56 percent of the total 

number of dwelling units financed by that GSE's mortgage purchases in 

each of those years. In addition, as a Low and Moderate Income Housing 

Home Purchase Subgoal, 47 percent of the total number of home purchase 

mortgages in metropolitan areas financed by that GSE's mortgage 

purchases shall be home purchase mortgages in metropolitan areas which 

count toward the Low- and Moderate-Income Housing Goal in each of those 

years unless otherwise adjusted by HUD in accordance with FHEFSSA.



[60 FR 61888, Dec. 1, 1995, as amended at 65 FR 65085, Oct. 31, 2000; 69 

FR 63639, Nov. 2, 2004]