How Federal Home Financing Entities Can Develop Housing Goals

In letter, Pew provides input on housing equity plans

Home Financing Entities Can Develop Housing Goals

On Oct. 25, The Pew Charitable Trusts sent comments to the Federal Housing Finance Agency in response to the agency’s request for input on the equitable housing finance plans for Fannie Mae and Freddie Mac. Pew’s letter highlighted opportunities to examine and improve equity in home financing.

Although most Americans use mortgages when buying homes, forthcoming Pew research suggests that tens of millions have used nonmortgage alternative financing arrangements, such as land contracts and rent-to-own. These arrangements often pose risks for buyers, such as hidden costs, threat of eviction, and loss of equity, and evidence shows deep disparities in usage across race, ethnicity, and geography. These challenges are particularly acute for people buying manufactured homes, a key source of housing for low- and moderate-income Americans.

Pew encouraged Fannie and Freddie to maintain a focus on the ways in which people finance their homes, particularly in communities where mortgage access is limited; address the disparities associated with various financing products; and consider four main objectives as they develop their plans:

  1. Evaluating housing quality.
  2. Understanding the rapidly expanding lease-purchase market and its outcomes.
  3. Conducting research on manufactured housing loan options and making the data publicly available.
  4. Assessing the small mortgage market and developing a pilot program to learn about lender and borrower challenges.

Spotlight on Mental Health

Composite image of modern city network communication concept

Learn the Basics of Broadband from Our Limited Series

Sign up for our four-week email course on Broadband Basics

Quick View

How does broadband internet reach our homes, phones, and tablets? What kind of infrastructure connects us all together? What are the major barriers to broadband access for American communities?

Pills illustration
Pills illustration

What Is Antibiotic Resistance—and How Can We Fight It?

Sign up for our four-week email series The Race Against Resistance.

Quick View

Antibiotic-resistant bacteria, also known as “superbugs,” are a major threat to modern medicine. But how does resistance work, and what can we do to slow the spread? Read personal stories, expert accounts, and more for the answers to those questions in our four-week email series: Slowing Superbugs.

Explore Pew’s new and improved
Fiscal 50 interactive

Your state's stats are more accessible than ever with our new and improved Fiscal 50 interactive:

  • Maps, trends, and customizable charts
  • 50-state rankings
  • Analysis of what it all means
  • Shareable graphics and downloadable data
  • Proven fiscal policy strategies

Explore

Welcome to the new Fiscal 50

Key changes include:

  • State pages that help you keep track of trends in your home state and provide national and regional context.
  • Interactive indicator pages with highly customizable and shareable data visualizations.
  • A Budget Threads feature that offers Pew’s read on the latest state fiscal news.

Learn more about the new and improved Fiscal 50.