---
kind: "section"
citation: "12 U.S.C. § 4562"
title: "12"
title_heading: "Banks and Banking"
number: "4562"
heading: "Single-family housing goals"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/4562"
units:
  - "Chapter 46 — Government Sponsored Enterprises"
  - "Subchapter I — Supervision and Regulation of Enterprises"
  - "Part B — Additional Authorities of the Director"
  - "Subpart 2 — housing goals"
---

# §4562. Single-family housing goals

- (a) **In general—** The [Director](/usc/12/4502.md?p=9) shall, by regulation, establish annual goals for the purchase by each [enterprise](/usc/12/4502.md?p=10) of the following types of [mortgages](/usc/12/1707.md?p=a) for the following categories of families:
  - (1) **Purchase-money mortgages—** A goal for purchase of conventional, conforming, single-family, purchase money [mortgages](/usc/12/1707.md?p=a) financing owner-occupied housing for each of the following categories of families:
    - (A) [Low-income](/usc/12/4502.md?p=14) families.
    - (B) Families that reside in [low-income areas](/usc/12/4502.md?p=28).
    - (C) [Very low-income](/usc/12/4502.md?p=24-A) families.
  - (2) **Refinancing mortgages—** A goal for purchase of conventional, [conforming mortgages](/usc/12/4502.md?p=26) on owner-occupied, single-family housing for [low-income](/usc/12/4502.md?p=14) families that are given to pay off or prepay an existing loan secured by the same property.
- (b) **Goals as a percentage of total mortgage purchases—** The goals established under paragraphs [(1)](#a-1) and [(2)](#a-2) of subsection (a) shall be established as a percentage of the total number of conventional, conforming, single-family, owner-occupied, purchase money [mortgages](/usc/12/1707.md?p=a) purchased by the [enterprise](/usc/12/4502.md?p=10), or as percentage of the total number of conventional, single-family, owner-occupied refinance [mortgages](/usc/12/1707.md?p=a) purchased by the [enterprise](/usc/12/4502.md?p=10), as applicable, that are [mortgages](/usc/12/1707.md?p=a) for the types of families specified in paragraphs [(1)](#a-1) and [(2)](#a-2) of subsection (a).
- (c) **Single-family, owner-occupied rental housing units—** The [Director](/usc/12/4502.md?p=9) shall require each [enterprise](/usc/12/4502.md?p=10) to report the number of rental housing units affordable to [low-income](/usc/12/4502.md?p=14) families each year which are contained in [mortgages](/usc/12/1707.md?p=a) purchased by the [enterprise](/usc/12/4502.md?p=10) financing 2- to 4-unit single-family, owner-occupied properties and may, by regulation, establish additional requirements relating to such units.
- (d) **Determination of compliance—**
  - (1) **In general—** The [Director](/usc/12/4502.md?p=9) shall determine, for each year that the housing goals under this section are in effect pursuant to [section 4561(a) of this title](/usc/12/4561.md?p=a), whether each [enterprise](/usc/12/4502.md?p=10) has complied with each such goal established under [subsection (a)](#a) of this section and any additional requirements which may be established under [subsection (c)](#c) of this section.
  - (2) **Purchase-money mortgage goals—** An [enterprise](/usc/12/4502.md?p=10) shall be considered to be in compliance with a housing goal under subparagraph [(A)](#a-1-A), [(B)](#a-1-B), or [(C)](#a-1-C) of subsection (a)(1) for a year only if, for the type of family described in such subparagraph, the percentage of the number of conventional, conforming, single-family, owner-occupied, purchase money [mortgages](/usc/12/1707.md?p=a) purchased by the [enterprise](/usc/12/4502.md?p=10) in such year that serve such families, meets or exceeds the target for the year for such type of family that is established under [subsection (e)](#e).
  - (3) **Refinance goal—** An [enterprise](/usc/12/4502.md?p=10) shall be considered to be in compliance with the refinance goal under [subsection (a)(2)](#a-2) for a year only if the percentage of the number of conventional, conforming, single-family, owner-occupied refinance [mortgages](/usc/12/1707.md?p=a) purchased by the [enterprise](/usc/12/4502.md?p=10) in such year that serve [low-income](/usc/12/4502.md?p=14) families meets or exceeds the target for the year that is established under [subsection (e)](#e).
- (e) **Annual targets—**
  - (1) **In general—** The [Director](/usc/12/4502.md?p=9) shall, by regulation, establish annual targets for each goal and subgoal under this section, provided that the [Director](/usc/12/4502.md?p=9) shall not set prospective targets longer than three years. In establishing such targets, the [Director](/usc/12/4502.md?p=9) shall not consider segments of the market determined to be unacceptable or contrary to good lending practices, inconsistent with safety and soundness, or unauthorized for purchase by the [enterprises](/usc/12/4502.md?p=10).
  - (2) **Goals targets—**
    - (A) **Calculation—** The [Director](/usc/12/4502.md?p=9) shall calculate, for each of the types of families described in [subsection (a)](#a), the percentage, for each of the three years that most recently precede such year and for which information under the Home [Mortgage](/usc/12/1707.md?p=a) Disclosure Act of 1975 [[12 U.S.C. 2801](/usc/12/2801.md) et seq.] is publicly available—
      - (i) of the number of conventional, conforming, single-family, owner-occupied purchase money [mortgages](/usc/12/1707.md?p=a) originated in such year that serve such type of family, or
      - (ii) the number of conventional, conforming, single-family, owner-occupied refinance [mortgages](/usc/12/1707.md?p=a) originated in such year that serve [low-income](/usc/12/4502.md?p=14) families,

      as applicable, as determined by the [Director](/usc/12/4502.md?p=9) using the information obtained and determined pursuant to paragraphs [(4)](#e-4) and [(5)](#e-5).

    - (B) **Establishment of goal targets—** The [Director](/usc/12/4502.md?p=9) shall, by regulation, establish targets for each of the goal categories, taking into consideration the calculations under [subparagraph (A)](#e-2-A) and the following factors:
      - (i) National housing needs.
      - (ii) Economic, housing, and demographic conditions, including expected market developments.
      - (iii) The performance and effort of the [enterprises](/usc/12/4502.md?p=10) toward achieving the housing goals under this section in previous years.
      - (iv) The ability of the [enterprise](/usc/12/4502.md?p=10) to lead the industry in making [mortgage](/usc/12/1707.md?p=a) [credit](/usc/12/5481.md?p=7) available.
      - (v) Such other reliable [mortgage](/usc/12/1707.md?p=a) data as may be available.
      - (vi) The size of the purchase money conventional [mortgage](/usc/12/1707.md?p=a) market, or refinance conventional [mortgage](/usc/12/1707.md?p=a) market, as applicable, serving each of the types of families described in [subsection (a)](#a), relative to the size of the overall purchase money [mortgage](/usc/12/1707.md?p=a) market or the overall refinance [mortgage](/usc/12/1707.md?p=a) market, respectively.
      - (vii) The need to maintain the sound financial condition of the [enterprises](/usc/12/4502.md?p=10).
  - (3) **Authority to adjust targets—** The [Director](/usc/12/4502.md?p=9) may, by regulation, adjust the percentage targets previously established by regulation pursuant to [paragraph (2)(B)](#e-2-B) for any year, to reflect subsequent available data and market developments.
  - (4) **HMDA information—** The [Director](/usc/12/4502.md?p=9) shall annually obtain information submitted in compliance with the Home [Mortgage](/usc/12/1707.md?p=a) Disclosure Act of 1975 [[12 U.S.C. 2801](/usc/12/2801.md) et seq.] regarding conventional, conforming, single-family, owner-occupied, purchase money and refinance [mortgages](/usc/12/1707.md?p=a) originated and purchased for the previous year.
  - (5) **Conforming mortgages—** In determining whether a [mortgage](/usc/12/1707.md?p=a) is a [conforming mortgage](/usc/12/4502.md?p=26) for purposes of this paragraph, the [Director](/usc/12/4502.md?p=9) shall consider the original principal balance of the [mortgage](/usc/12/1707.md?p=a) loan to be the principal balance as reported in the information referred to in [paragraph (4)](#e-4), as rounded to the nearest thousand dollars.
- (f) **Notice of determination and enterprise comment—**
  - (1) **Notice—** Within 30 days of making a determination under [subsection (d)](#d) regarding compliance of an [enterprise](/usc/12/4502.md?p=10) for a year with a housing goal established under this section and before any public disclosure thereof, the [Director](/usc/12/4502.md?p=9) shall provide notice of the determination to the [enterprise](/usc/12/4502.md?p=10), which shall include an analysis and comparison, by the [Director](/usc/12/4502.md?p=9), of the performance of the [enterprise](/usc/12/4502.md?p=10) for the year and the targets for the year under [subsection (e)](#e).
  - (2) **Comment period—** The [Director](/usc/12/4502.md?p=9) shall provide each [enterprise](/usc/12/4502.md?p=10) an opportunity to comment on the determination during the 30-day period beginning upon receipt by the [enterprise](/usc/12/4502.md?p=10) of the notice.
- (g) **Use of borrower income—** In monitoring the performance of each [enterprise](/usc/12/4502.md?p=10) pursuant to the housing goals under this section and evaluating such performance (for purposes of [section 4566 of this title](/usc/12/4566.md)), the [Director](/usc/12/4502.md?p=9) shall consider a [mortgagor](/usc/12/1707.md?p=b)’s income to be such income at the time of origination of the [mortgage](/usc/12/1707.md?p=a).
- (h) **Consideration of properties with rental units—** [Mortgages](/usc/12/1707.md?p=a) financing two- to four-unit owner-occupied properties shall count toward the achievement of the single-family housing goals under this section, if such properties otherwise meet the requirements under this section, notwithstanding the use of one or more units for rental purposes.
- (i) **Goals credit—** The [Director](/usc/12/4502.md?p=9) shall determine whether an [enterprise](/usc/12/4502.md?p=10) shall receive full, partial, or no [credit](/usc/12/5481.md?p=7) for a transaction toward achievement of any of the housing goals established pursuant to section 4562 and [4563](/usc/12/4563.md) of this title. In making any such determination, the [Director](/usc/12/4502.md?p=9) shall consider whether a transaction or activity of an [enterprise](/usc/12/4502.md?p=10) is substantially equivalent to a [mortgage](/usc/12/1707.md?p=a) purchase and either (1) creates a new market, or (2) adds liquidity to an existing market. No [credit](/usc/12/5481.md?p=7) toward the achievement of the housing goals and subgoals established under this section may be given to the purchase of [mortgages](/usc/12/1707.md?p=a), including any transaction or activity of an [enterprise](/usc/12/4502.md?p=10) determined to be substantially equivalent to a [mortgage](/usc/12/1707.md?p=a) purchase, that is determined to be unacceptable or contrary to good lending practices, inconsistent with safety and soundness, or unauthorized for purchase by the [enterprises](/usc/12/4502.md?p=10), pursuant to regulations issued by the [Director](/usc/12/4502.md?p=9).

## Source credit

(Pub. L. 102–550, title XIII, § 1332, as added Pub. L. 110–289, div. A, title I, § 1128(b), July 30, 2008, 122 Stat. 2697.)

## Notes

### Editorial Notes

### References in Text

The Home Mortgage Disclosure Act of 1975, referred to in subsec. (e)(2)(A), (4), is title III of Pub. L. 94–200, Dec. 31, 1975, 89 Stat. 1125, which is classified principally to chapter 29 (§ 2801 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2801 of this title and Tables.

### Prior Provisions

A prior section 4562, Pub. L. 102–550, title XIII, § 1332, Oct. 28, 1992, 106 Stat. 3956, related to low- and moderate-income housing goal, prior to repeal by Pub. L. 110–289, div. A, title I, § 1128(a), July 30, 2008, 122 Stat. 2696.

### Statutory Notes and Related Subsidiaries

### Effective Date

Pub. L. 102–550, title XIII, § 1338, Oct. 28, 1992, 106 Stat. 3964, which provided the effective date for housing goals established under former sections 4562(d), 4563(d), and 4564(d) of this title, was repealed by Pub. L. 110–289, div. A, title I, § 1122(a)(2), July 30, 2008, 122 Stat. 2689.