The Federal Housing Finance Agency (FHFA) announced that the 2024 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) are $70 billion for each Enterprise, for a combined total of $140 billion to support the multifamily housing market. To ensure a strong focus on affordable housing and underserved markets, FHFA will require that at least 50 percent of the Enterprises’ multifamily businesses are mission-driven, affordable housing. In addition, for 2024, loans classified as supporting workforce housing properties in Appendix A of the Conservatorship Scorecard are exempt from the volume caps. All other mission-driven loans remain subject to the volume caps.