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Social Bonds

As a leading source of financing, Fannie Mae makes affordable homeownership and workforce rental housing a reality for millions of Americans. Our housing mission isn’t just part of our charter, it’s who we are.

Our Social Bonds offerings are aligned with our Sustainable Bond Framework, which received a Second Party Opinion from Sustainalytics, a leading independent global provider of ESG and corporate governance research and ratings.

Explore our current social bond offerings

Fannie Mae’s national network of Delegated Underwriting and Servicing (DUS®) lender partners provide mortgage loans to commercial real estate owners for the acquisition or refinance of multifamily properties. These loans are secured by several types of multifamily properties, including apartment buildings, manufactured housing communities, seniors housing, dedicated student housing, affordable housing, and cooperatives.

Fannie Mae Multifamily Social Issuances   

Some of our flagship programs for inclusion in Social Multifamily MBS include:

Restricted Affordable Housing

The most restrictive of all the Fannie Mae’s affordable housing offerings, a Restricted Affordable Housing loan is available on a Multifamily Affordable Housing (MAH) property which is encumbered by a regulatory agreement. The property must provide rent restricted housing subsidized by various government programs including Low-Income Housing Tax Credits (LIHTC), the U.S. Department of Housing and Urban Development’s Section 8 program, and state and local housing incentive initiatives.

Unrestricted Affordable Housing

In order to meet the needs of workforce households across the spectrum, Fannie Mae provides financing for market-rate units that do not receive support from government housing programs, but still offer affordable rents in their local markets. These units are generally in class B or C properties that may provide affordable rents due to the age, condition or location of the asset. For a property to qualify as Unrestricted Affordable Housing, at least 80% of all units must be affordable to households earning no more than 120% of AMI.

Manufactured Housing Communities (MHC)

Manufactured housing continues to be an important part of the affordable housing stock, both for owners and renters. The median annual household income of manufactured home residents who own their homes is approximately $35,000, half of the median annual income of site-built homeowners. For renters of manufactured housing, over one-third earn less than $20,000 per year.1 In order to support this community, Fannie Mae provides financing for owners of Manufactured Housing Community sites in which the individual pad sites are leased to owners of manufactured homes. Through its program requirements, Fannie Mae seeks to influence the quality and affordability of these communities.

Healthy Housing Rewards

Our Healthy Housing Rewards™ initiative provides financial incentives for borrowers who incorporate health-promoting design features and practices or resident services in their newly constructed or rehabilitated multifamily affordable rental properties.

Manufactured Housing Landscape 2020, Multifamily Economic and Market Commentary, May 2020, Fannie Mae.