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To help even more borrowers overcome the down payment challenge, Freddie Mac’s DPA One SM, a down payment assistance digital platform, will be made available broadly this year. BorrowSmart Access provides down payment assistance and financial education to eligible families. Under the Plan, Freddie Mac will continue purchasing loans originated through both lender SPCPs and its own SPCP, BorrowSmart Access SM.

The updates to the Plan contain adjustments and enhancements to activities that advance equitable and sustainable housing and rental opportunities while preserving safety and soundness. In 2022, Freddie Mac helped more than 488,000 minority borrowers purchase or refinance a home, accounting for more than 30 percent of the company’s Single-Family acquisitions. The update released today illustrates our commitment to help more families in the years to come.”

“We have made meaningful progress over the last year, and we know there is much more to do. “The actions laid out in this year’s Equitable Housing Finance Plan build upon the work we started last year to give families in underserved communities a more equitable chance to have a quality, affordable place to call home,” said Michael DeVito, CEO of Freddie Mac. The company today also published a progress report highlighting its accomplishments against the 2022 Plan.

The Plan is an important component of Freddie Mac’s mission-driven efforts to expand affordable housing and improve outcomes for renters and borrowers in all communities. MCLEAN, Va., Ap(GLOBE NEWSWIRE) - Freddie Mac (OTCQB: FMCC) today published updates to its three-year Equitable Housing Finance Plan, the company’s roadmap to promote sustainable homeownership and rental opportunities for traditionally underserved Black and Latino communities across the nation.