Single-family housing goals.

CFR · 2024-01-01 · US · Title 12

(a) (1) The share of the market that qualifies for the goal; or (2) The benchmark level for the goal. (b) (1) Only owner-occupied, conventional loans shall be considered; (2) Purchase money mortgages and refinancing mortgages shall only be counted for the applicable goal or goals; (3) All mortgages flagged as HOEPA loans or subordinate lien loans shall be excluded; (4) All mortgages with original principal balances above the conforming loan limits for single unit properties for the year being evaluated (rounded to the nearest $1,000) shall be excluded; (5) All mortgages with rate spreads of 150 basis points or more above the applicable average prime offer rate as reported in the Home Mortgage Disclosure Act data shall be excluded; and (6) All mortgages that are missing information necessary to determine appropriate counting under the housing goals shall be excluded. (c) (1) The share of such mortgages in the market as defined in paragraph (b) of this section in each year; or (2) The benchmark level, which for 2022, 2023, and 2024 shall be 28 percent of the total number of purchase money mortgages purchased by that Enterprise in each year that finance owner-occupied single-family properties. (d) (1) The share of such mortgages in the market as defined in paragraph (b) of this section in each year; or (2) The benchmark level, which for 2022, 2023, and 2024 shall be 7 percent of the total number of purchase money mortgages purchased by that Enterprise in each year that finance o

official document · source cfr-2024 · id 12:§ 1282.12