The Department of Housing and Urban Development says Fannie Mae and Freddie Mac met or exceeded their affordable housing goals for 2006 even though Freddie missed one of the home purchase subgoals by a tiny fraction.The government-sponsored enterprise purchased 179,145 mortgages that qualified for the special affordable home purchase subgoal, but "missed by 634 loans," Freddie said in its annual affordable housing report to HUD. Freddie Mac's report also shows that its purchases of asset-backed securities accounted for 32.5% of single-family units qualifying for the low- and moderate-income housing goal, and its purchases of commercial mortgage-backed securities accounted for 56.4% of the qualifying multifamily units. Fannie noted that it started purchasing CMBS in 2006, but did not discuss its ABS purchases.
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Agency activity dropped off by 4% in September while non-qualified mortgage issuance was down 18% in the third quarter versus the prior period, BTIG said.
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Developments like the downward swing in total jobs reported Friday, inflation and AI have made nonbank employment more complex and volatile this year.
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Single-family mortgages originated with new scores have been put into private securitizations but these typically have been submitted alongside classic FICOs.
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The collaboration comes after HUD issued several other updates earlier this year aimed at increasing affordability through loosened homebuilding policy.
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Southeast impairments run 150 bps above other regions and alt-doc loans are up 200+ bps since 2025, while DSCR and full-doc improve. Time to review overlays.
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Federal Reserve Gov. Lisa Cook said Thursday that private credit does not seem to pose additional risks to the financial system at the moment, but added that more information about the opaque market is needed.
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