WASHINGTON -- The Department of Housing and Urban Development formally unveiled its affordable-housing goals for Fannie Mae and Freddie Mac on Tuesday.
The agency had sent proposed goals to the two secondary market companies in July, and invited their comment. But HUD officials said the regulations were changed only slightly in response to those comments.
As previously reported, the Federal National Mortgage Association must make sure that 30% of the housing units it finances this year are bought or rented by lower-income and moderate-income people. And 28% of the financing must be for central-city residents.
The Federal Home Loan Mortgage Corp. has a lower-income and moderate-income goal of 28% for this year, and its central-city goal is 26%.
Both companies must reach the 30% mark in all categories by the end of 1994.