​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its annual Housing Mission Report, describing the activities taken by Fannie Mae and Freddie Mac (the Enterprises) and the Federal Home Loan Banks (FHLBanks) in 2023 to promote access to financing for affordable, sustainable, and equitable housing and targeted economic development.

“FHFA maintains a keen focus on ensuring the entities we regulate fulfill their missions to support access to housing opportunities in a safe and sound manner,” said Director Sandra L. Thompson. “Ongoing affordability challenges throughout the country only heighten the importance of this responsibility.”

Key 2023 activities highlighted in this report include:

• Together, the Enterprises purchased over 136,000 single-family mortgages for low- and moderate-income borrowers through their core affordable housing programs, HomeReady and Home Possible. Both Enterprises also introduced enhancements to these programs, adding a credit of $2,500 for very low-income borrowers that lenders must pass through to borrowers by applying it to the down payment or closing costs.
• The Enterprises collectively purchased approximately 15,000 Special Purpose Credit Program (SPCP) loans through both lender-sponsored initiatives and their proprietary SPCPs, supporting homeownership for many borrowers in underserved communities.
• Pursuant to their Equitable Housing Finance Plans, the Enterprises partnered with vendors responsible for collecting rent payment data from participating multifamily housing property owners and formatting it for dissemination to credit bureaus.
• The Enterprises invested over $1.7 billion last year in Low-Income Housing Tax Credit (LIHTC) equity, including transactions that support housing in Duty to Serve-designated rural areas, preserve affordable housing, support mixed-income housing, provide supportive housing, or meet other affordable housing objectives.
• Under the FHLBanks' Affordable Housing Programs (AHP), LIHTC properties represented more than 43 percent of their total General Fund projects and 55 percent of their total General Fund rental projects.
• ​The FHLBanks awarded $446.9 million through their AHPs in 2023, almost $180 million more than in 2022. This funding supported more than 33,000 housing units. The FHLBanks also funded approximately $4.2 billion in Community Investment Program (CIP) housing advances in 2023, supporting almost 32,000 units, representing 11,000 more units than in 2022.