The Federal Housing Finance Agency (FHFA) has sent a final rule to the Federal Register establishing new housing goals for Fannie Mae and Freddie Mac for 2010-2011.

In previous years, the Department of Housing and Urban Development set overall goals that measured the combined performance of single-family and multifamily mortgages, according to a statement. The new goals will target specific segments of those markets and reflect essential conservatorship requirements to ensure both Fannie Mae and Freddie Mac focus on core business activities to support the mortgage market while minimizing losses on their existing mortgages.

The final rule establishes three single-family, owner-occupied home purchase mortgage goals for low-income families, very low-income families and families living in geographical areas with lower-income populations, areas with high concentrations of minority residents and federally-declared disaster areas, according to a statement. There is also a specialized subgoal to ensure that Fannie Mae and Freddie Mac address housing needs in lower-income and minority areas. The final rule also contains a goal for single-family, owner-occupied refinance mortgages for low-income families.