---
kind: "section"
citation: "12 U.S.C. § 4563"
title: "12"
title_heading: "Banks and Banking"
number: "4563"
heading: "Multifamily special affordable housing goal"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/4563"
units:
  - "Chapter 46 — Government Sponsored Enterprises"
  - "Subchapter I — Supervision and Regulation of Enterprises"
  - "Part B — Additional Authorities of the Director"
  - "Subpart 2 — housing goals"
---

# §4563. Multifamily special affordable housing goal

- (a) **Establishment of goal—**
  - (1) **In general—** The [Director](/usc/12/4502.md?p=9) shall, by regulation, establish a single annual goal, by either unit or dollar volume, of purchases by each [enterprise](/usc/12/4502.md?p=10) of [mortgages](/usc/12/1707.md?p=a) on [multifamily housing](/usc/12/4502.md?p=18) that finance dwelling units affordable to [low-income](/usc/12/4502.md?p=14) families.
  - (2) **Additional requirements for units affordable to very low-income families—** When establishing the goal under this section, the [Director](/usc/12/4502.md?p=9) shall establish additional requirements for the purchase by each [enterprise](/usc/12/4502.md?p=10) of [mortgages](/usc/12/1707.md?p=a) on [multifamily housing](/usc/12/4502.md?p=18) that finance dwelling units affordable to [very low-income](/usc/12/4502.md?p=24-A) families.
  - (3) **Reporting on smaller properties—** The [Director](/usc/12/4502.md?p=9) shall require each [enterprise](/usc/12/4502.md?p=10) to report on the purchase by each [enterprise](/usc/12/4502.md?p=10) of [multifamily housing](/usc/12/4502.md?p=18) of a smaller or limited size that is affordable to [low-income](/usc/12/4502.md?p=14) families, which may be based on multifamily projects of 5 to 50 units (as such numbers may be adjusted by the [Director](/usc/12/4502.md?p=9)) or on [mortgages](/usc/12/1707.md?p=a) of up to $5,000,000 (as such amount may be adjusted by the [Director](/usc/12/4502.md?p=9)), and may, by regulation, establish such aditional[^1] requirements related to such units.
  - (4) **Factors—** In establishing the goal and additional requirements under this section, the [Director](/usc/12/4502.md?p=9) shall not consider segments of the market determined to be inconsistent with safety and soundness or unauthorized for purchase by the [enterprises](/usc/12/4502.md?p=10), and shall take into consideration—
    - (A) national multifamily [mortgage](/usc/12/1707.md?p=a) [credit](/usc/12/5481.md?p=7) needs and the ability of the [enterprise](/usc/12/4502.md?p=10) to provide additional liquidity and stability for the multifamily [mortgage](/usc/12/1707.md?p=a) market;
    - (B) the performance and effort of the [enterprise](/usc/12/4502.md?p=10) in making [mortgage](/usc/12/1707.md?p=a) [credit](/usc/12/5481.md?p=7) available for [multifamily housing](/usc/12/4502.md?p=18) in previous years;
    - (C) the size of the multifamily [mortgage](/usc/12/1707.md?p=a) market for housing affordable to [low-income](/usc/12/4502.md?p=14) and [very low-income](/usc/12/4502.md?p=24-A) families, including the size of the multifamily markets for housing of a smaller or limited size;
    - (D) the ability of the [enterprise](/usc/12/4502.md?p=10) to lead the market in making multifamily [mortgage](/usc/12/1707.md?p=a) [credit](/usc/12/5481.md?p=7) available, especially for [multifamily housing](/usc/12/4502.md?p=18) described in paragraphs [(1)](#a-1) and [(2)](#a-2);
    - (E) the availability of public subsidies; and
    - (F) the need to maintain the sound financial condition of the [enterprise](/usc/12/4502.md?p=10).
- (b) **Units financed by housing finance agency bonds—** The [Director](/usc/12/4502.md?p=9) shall give full [credit](/usc/12/5481.md?p=7) toward the achievement of the multifamily special affordable housing goal under this section (for purposes of [section 4566 of this title](/usc/12/4566.md)) to dwelling units in [multifamily housing](/usc/12/4502.md?p=18) that otherwise qualifies under such goal and that is financed by tax-exempt or taxable bonds issued by a [State](/usc/12/4502.md?p=22) or local housing finance [agency](/usc/12/4502.md?p=2), if such bonds, in whole or in part—
  - (1) are secured by a guarantee of the [enterprise](/usc/12/4502.md?p=10); or
  - (2) are purchased by the [enterprise](/usc/12/4502.md?p=10), except that the [Director](/usc/12/4502.md?p=9) may give less than full [credit](/usc/12/5481.md?p=7) for purchases of investment grade bonds, to the extent that such purchases do not provide a new market or add liquidity to an existing market.
- (c) **Measurement of performance—** The [Director](/usc/12/4502.md?p=9) shall monitor the performance of each [enterprise](/usc/12/4502.md?p=10) in meeting the goals established under this section and shall evaluate such performance (for purposes of [section 4566 of this title](/usc/12/4566.md)) based on whether the rent levels are affordable. A rent level shall be considered to be affordable for purposes of this subsection for [low-income](/usc/12/4502.md?p=14) families if it does not exceed 30 percent of the maximum income level of such income category, with appropriate adjustments for unit size as measured by the number of bedrooms.
- (d) **Determination of compliance—** The [Director](/usc/12/4502.md?p=9) shall determine, for each year that the housing goal under this section is 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 such goal and the additional requirements under [subsection (a)(2)](#a-2).

## Footnotes

[^1]: So in original.

## Source credit

(Pub. L. 102–550, title XIII, § 1333, as added Pub. L. 110–289, div. A, title I, § 1128(b), July 30, 2008, 122 Stat. 2700.)

## Notes

### Editorial Notes

### Prior Provisions

A prior section 4563, Pub. L. 102–550, title XIII, § 1333, Oct. 28, 1992, 106 Stat. 3958, related to special affordable housing goal, prior to repeal by Pub. L. 110–289, div. A, title I, § 1128(a), July 30, 2008, 122 Stat. 2696.