CARH’S BROADCAST E-MAIL – Regulatory Alert

December 16, 2015

On December 15^th, the Federal Housing Finance Agency (FHFA) issued a new Duty to Serve proposed rule (currently pending official publication in the Federal Register). According to FHFA’s announcement, the Duty to Serve requires Fannie Mae and Freddie Mac to increase their secondary market activities to help very low-, low-, and moderate-income families buy or rent a home. The proposal would require each company to develop a plan to support lending by financial institutions for three types of housing:

• Manufactured housing
• Affordable housing preservation
• Rural housing

Here are links to the press release, the proposed rule, and the fact sheet.

• FHFA will host a webinar on the Duty to Serve proposed rule at 2:00 p.m. EST, Tuesday, December 22. The webinar is intended to increase public awareness of the proposed rule, summarize its contents, and answer your questions.

• After a summary presentation, FHFA staff will address only questions on the Duty to Serve submitted to FHFA in advance. Please submit any questions by 4:00 p.m. EST, Friday, December 18 to: DutyToServeStakeholders@FHFA.gov. Please put “Question” in the subject line. Please note that questioners may be identified during the webinar if their questions are selected. All questions, the identities of the questioners, and FHFA’s responses will be included in the public comments record for the proposed rule.

• The webinar will be open to any interested party.  Feel free to forward this message to anyone who may be interested in the webinar or Duty to Serve.

• To register for the webinar, please click here.

At CARH’s meeting in San Antonio, Texas on January 25-27, 2016, a concurrent session on Fannie Mae’s Duty to Serve mission will be held on Tuesday, January 26^th from 11:30 a.m. to 12:30 p.m.