BROADCAST EMAIL – Regulatory Update

December 18, 2017

Today, the Federal Housing Finance Agency (FHFA) published Fannie Mae’s and Freddie Mac’s (the Enterprises) Underserved Markets Plans for 2018-2020 under the Duty to Serve program.

View Fannie Mae’s Underserved Markets Plan

View Freddie Mac’s Underserved Markets Plan

Learn More about Duty to Serve

As background, FHFA issued a Final Rule on December 29, 2016 to implement the Duty to Serve provisions mandated by the Housing and Economic Recovery Act of 2008. According to FHA, the statute requires the Enterprises to serve three specified underserved markets – manufactured housing, affordable housing preservation, and rural housing – by increasing the liquidity of mortgage financing, for very low-, low-, and moderate-income families.

The rule requires each Enterprise to adopt a three-year Underserved Markets Plan to fulfill this mandate. The activities proposed by the Enterprises to achieve the objectives in their Plans will continue to be subject to FHFA review and approval to ensure compliance with the Enterprises’ Charter Acts, safety and soundness, and other conservatorship and regulatory requirements.

CARH will hold a session “What Will Duty to Serve Mean for You” during our upcoming Midyear Meeting. You will not want to miss this panel on Wednesday, January 24!