The MReport Webcast: Tuesday 6/16/2015

The Federal Housing Finance Agency recently released their 2014 Report to Congress, which examines and reports the activities of Freddie Mac, Fannie Mae, 12 Federal Home Loan Banks and the FHLBanks’ Office of Finance. The agency also reported the goals set forth for the GSEs and FHLBank’s mission and affordable housing programs they offer. The report highlights that the FHFA aimed to reduce taxpayer risk, and also build a new single-family securitization infrastructure for use by the GSEs and other participants.

The FHFA’s annual housing goals for mortgages purchased by the GSEs include single-family mortgages on housing that is affordable to low-income and very low-income families. The agency is required to set these goals under the Safety and Soundness Act. The report noted that the low-income purchase goal for home purchase mortgages should go to families with incomes of no more than 80 percent of area median income. The very low-income home purchase goal is intended for families with income of no more than 50 percent of area median income.

Senior households have been rising slowly over the decades, but this is about to change in the coming years. Urban Institute’s recent analysis of housing trends determined that senior households are expected to grow dramatically by 2030. The institute found that in 1990, there were 20 million households for seniors ages 65 and up. In 2010, this number had reached 25.8 million, and by 2030, the institute projects that aging baby boomer households will reach 46 million.