WASHINGTON - The U.S. Department of Housing and UrbanDevelopment recently proposed new federal regulations that wouldraise the targeted lending requirements for Fannie Mae and FreddieMac. According to a HUD release, the agency estimates that over thenext four years, an additional one million low- and moderate-incomefamilies would be served as a result of the new requirements. Bystatute, HUD sets the annual affordable housing goals that requirea percentage of Fannie and Freddie Mac's lending go to underservedborrowers and communities. The proposal is currently under a 15-daycongressional review. After that there will be a 60-day commentperiod.
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