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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 68 November 2025 J O U R N A L • Preservation loans at workforce housing properties • Manufactured housing communities that receive credit under the Duty to Serve regulation • Green loans that finance energy or water improvements • Affordable units with unsubsidized/ market rents (including conven- tional housing, small multifamily properties of between 5 and 50 units, and seniors housing) • Affordable units in properties in rural areas Additional Highlights—National The Enterprises exceeded the requirement that 50% of their business be mission-driven in 2024 by actively managing their multifamily loan acqui- sition production to stay below the $70 billion cap for each Enterprise. The total amount of multifamily loans acquired by Fannie Mae at the end of the year was $55. billion. According to Appendix A of the Conservatorship Scorecard, mission-driv- en acquisitions accounted for $34.8 billion (63%) of the total. The total amount of multifamily loans acquired by Freddie Mac at the end of the year was $65.1 billion. According to Appendix A of the Conservatorship Scorecard, mission-driv- en acquisitions accounted for $42.2 billion (65%) of the total. Both businesses surpassed their loan acquisition goal for manufactured home communities (MHC) with certain pad lease protections in 2024. By financing 122 MHC properties, totaling 19,908 units and $0.943 billion in mission-adjusted unpaid principal balance (UPB), Fannie Mae surpassed its revised goal of $0.8–$1.0 billion in UPB. MHC loans were acquired by Freddie Mac on 31,024 pads. Its revised goal of 17,100 pads was surpassed. Fannie Mae fell short of its baseline of 8,196 loans and target of 9,500 loans by acquiring 4,792 loans backed by manu- factured housing titled as real property. Freddie Mac surpassed its baseline of 6,247 loans and target of 6,300 loans by acquiring 8,478 loans secured by manu- factured housing titled as real property. In 2024, both businesses backed the Section 8 program of the Department of Housing and Urban Development (HUD). 21,241 units were supported by 171 loans that Fannie Mae acquired to finance Section 8 projects. Freddie Mac exceeded its initial aim of 27,300 units and its re- vised target of 22,600 units by supporting 28,009 Section 8 apartments through its loan purchases. Note: The report provides data on how single-family loans are distributed by sex, race/ethnicity, and median income per census tract. Along with details on mort- gage payment options (such as fixed-rate or adjustable-rate mortgages), loan-to-val- ue ratios, and credit scores, the report also breaks out the single-family mortgage product types that each Enterprise has purchased. SENATE HEARING EXPOSES TENSIONS OVER HUD LAYOFFS AND HOUSING ACCESS A recent Senate Banking Commit- tee hearing spotlighted growing concern over the Department of Housing and Urban Development's (HUD) workforce reductions and their potential effect on housing access. The session, as reported by Scotsman Guide on October 31, 2025, featured testimony from nominees Frank Cassidy and Joseph Gormley, who have been tapped to lead the Federal Housing Administration (FHA) and Ginnie Mae, respectively. Scrutiny of HUD Workforce Reductions During the hearing, Senator Tina Smith (D-Minn.) questioned Cassidy about HUD's October reduction-in-force that cut more than 400 positions, including employees from the Office of Housing Counseling. Smith said the layoffs represented "a huge impact." Cas- sidy responded that he could not discuss the matter due to ongoing litigation but emphasized that "housing is very much a local issue," adding that HUD works with "local leaders on the ground, nonprofits [who] understand the issues that work in their jurisdiction," according to Scotsman Guide. Cassidy and Gormley Emphasize Leadership Continuity Cassidy, currently serving as Principal Deputy Assistant Secretary overseeing the FHA's approximately $1.75 trillion mortgage-insurance portfolio, outlined his background in multifamily, se- nior-housing, and healthcare financing. Gormley, nominated to lead Ginnie Mae, pledged in his statement to "draw on all his experience … to ensure the organi- zation fulfills its mission of providing low-cost financing and ultimately making the American Dream of homeownership more accessible and affordable for the American people." Following his re- marks, senators did not ask Gormley any direct questions (Scotsman Guide). Industry Groups Call for Swift Confirmation Industry leaders voiced public support for both nominees. Steve Irwin, president of the National Reverse Lenders Association, wrote that the two positions "form the backbone of the federal hous- ing finance architecture that supports the financial well-being of millions of older Americans." Buddy Hughes, chair of the National Association of Home Builders, described Cassidy's real-estate-finance ex- perience as "strong" and called Gormley "the ideal candidate to lead Ginnie Mae and maintain confidence and liquidity in the secondary mortgage market," Scots- man Guide reported. Policy Implications for Housing Access The hearing underscored how HUD's staffing changes intersect with the agency's housing-access mission. While litigation prevents discussion of the layoffs' details, senators made clear that the department's reduced workforce has raised congressional concern about