Author:
FHFA Staff Members
With this paper the Federal Housing Finance Agency updates Appendix D of the Department of Housing and Urban Development's (HUD's) 2004 rule establishing the Low- and Moderate-Income, Special Affordable and Underserved Areas Housing Goals for 2005 through 2008. Appendix D contained HUD's assessment of the size of the market, along with the methodology used to make this assessment, and was based on information available in 2004. This analysis provides an update of HUD's 2004 assessment of the size of the market for each goal, using a very similar methodology, with information available as of October, 2008. The market estimates in this analysis are projected in light of recent and current market conditions, including uncertainty due to the increase in the conforming loan limit for 2009, the increase in FHA market share, the size of the multifamily market and various economic risks, as discussed in the 2009 Final Regulation Preamble.