12 USC 4563 - Multifamily special affordable housing goal

U.S Code last checked for updates: Nov 22, 2024

§ 4563.

Multifamily special affordable housing goal

(a)

Establishment of goal

(1)

In general

(2)

Additional requirements for units affordable to very low-income families

(3)

Reporting on smaller properties

(4)

Factors

In establishing the goal and additional requirements under this section, the Director shall not consider segments of the market determined to be inconsistent with safety and soundness or unauthorized for purchase by the enterprises, and shall take into consideration—

(A)

national multifamily mortgage credit needs and the ability of the enterprise to provide additional liquidity and stability for the multifamily mortgage market;

(B)

the performance and effort of the enterprise in making mortgage credit available for multifamily housing in previous years;

(C)

the size of the multifamily mortgage market for housing affordable to low-income and very low-income families, including the size of the multifamily markets for housing of a smaller or limited size;

(D)

the ability of the enterprise to lead the market in making multifamily mortgage credit available, especially for multifamily housing described in paragraphs (1) and (2);

(E)

the availability of public subsidies; and

(F)

the need to maintain the sound financial condition of the enterprise.

(b)

Units financed by housing finance agency bonds

The Director shall give full credit toward the achievement of the multifamily special affordable housing goal under this section (for purposes of section 4566 of this title) to dwelling units in multifamily housing that otherwise qualifies under such goal and that is financed by tax-exempt or taxable bonds issued by a State or local housing finance agency, if such bonds, in whole or in part—

(1)

are secured by a guarantee of the enterprise; or

(2)

are purchased by the enterprise, except that the Director may give less than full credit for purchases of investment grade bonds, to the extent that such purchases do not provide a new market or add liquidity to an existing market.

(c)

Measurement of performance

(d)

Determination of compliance

(Pub. L. 102–550, title XIII, § 1333, as added Pub. L. 110–289, div. A, title I, § 1128(b), July 30, 2008, 122 Stat. 2700.)

cite as: 12 USC 4563