FHFA raises multifamily loan purchase caps for 2022

The Federal Housing Finance Agency (FHFA) set the 2022 multifamily loan purchase caps for Fannie Mae and Freddie Mac at $78 billion for each. The 2022 caps will be an increase from 2021 when it was $70 billion for each of these government-sponsored enterprises (GSEs). The new caps are based on FHFA’s projections of the overall growth of the multifamily originations market. FHFA requires that at least 50 percent of the GSE’s multifamily business be mission-driven affordable housing and at least 25 percent be affordable to residents at or below 60 percent of area median income (AMI). That percentage is up from 20 percent in 2021.

Financial Regulation News • October 18, 2021

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Build a house for under $170,000? Architects compete to design more affordable homes

It's one thing to design a beautiful $700,000 home. But a $170,000 one? That's a challenge. Nonetheless, 32 architects and their teams rose to the test by submitting plans for the Next Home 2021 Design Competition. The contest, announced in April, was sponsored by the Neighborhood Design Center in Columbus and others with a clear goal: to build decent new homes average people can afford. "There's a perception that an affordable house is shoddy or not well-built. Hopefully good design can mitigate some of those concerns," said Lisa Snyder, project manager for the Neighborhood Design Center. "You can build affordably, but can you also build well?"

The Columbus Dispatch • October 17, 2021

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California faces 'existential' dilemma in tackling climate change, housing crisis

As home prices soar and wildfires rage across California, the state is increasingly confronted with the herculean task of addressing climate change while creating more affordable housing. A series of new mandates recently issued by Gov. Gavin Newsom has plunged the state deeper into what some say is an “existential” dilemma generations in the making: how to house the state’s 40 million residents while also protecting its natural resources.

NBC News • October 17, 2021

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