The Federal Housing Finance Agency announced that the 2022 multifamily loan purchase caps for Fannie Mae and Freddie Mac will be $78 billion for each GSE, for a combined total of $156 billion to support the multifamily market. The 2022 caps increased from $70 billion for each GSE from 2021 and are based on FHFA's projections of the overall growth of the multifamily originations market.

FHFA will require that at least 50% of their multifamily business be mission-driven affordable housing and at least 25% of the GSEs' multifamily business be affordable to residents at or below 60% of area median income (AMI), up from 20% in 2021.

"The increases of the multifamily loan purchase caps and higher mission-driven business requirements assure that (Fannie and Freddie's) multifamily businesses have a strong and growing commitment to affordable housing finance, particularly for residents and communities that are the most difficult to serve," said FHFA Acting Director Sandra Thompson.