Freddie Mac 2015 Annual Report Download - page 64

Management's Discussion and Analysis Our Business Segments | Multifamily
Freddie Mac 2015 Form 10-K 62
• In May 2015, FHFA expanded the affordable housing categories excluded from the production cap in
our 2015 scorecard. These revisions enabled us to further support the needs of the workforce
housing market across more communities. Based on this guidance, approximately 63% of our
multifamily new business activity during 2015 counted towards the 2015 scorecard production cap,
and the remaining 37% was uncapped.
• Nearly 90% of the eligible units we financed during 2015 were affordable to families earning at or
below the median income in their area (eligible units are multifamily units that qualify toward our
affordable housing goal). We increased our support of workforce housing in the multifamily mortgage
market during 2015 through new initiatives, including purchases of manufactured housing community
loans and small balance loans.
• We expect our overall new business volume to increase in 2016; however, we expect our volume in
the capped categories to be at or below the 2016 Conservatorship Scorecard cap of $31.0 billion. We
also expect to introduce new initiatives to support liquidity and workforce housing in the multifamily
mortgage markets.
• We expect the increased competition from other market participants, particularly banking institutions,
to continue.