FHFA Proposes Rule On Underserved Markets

FHFA Proposes Rule On Underserved Markets

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The Federal Housing Finance Agency (FHFA) recently issued a proposed rule on a method for evaluating and rating Fannie Mae and Freddie Mac’s compliance with the "duty to serve" underserved markets, including manufactured housing, affordable housing preservation and rural housing.

Thus, newly proposed legislation in both the House. the Federal Housing Finance Agency (FHFA). In 2010, the fhfa completed rules that require the GSEs to “serve” various “underserved markets.” For.

The Markets Noteworthy. On July 2, 2019, the Federal Housing Finance Agency published Fannie Mae’s modified underserved markets plans for 2018-2020 under the Duty to Serve program. The Plan, originally published Dec. 18, 2017 became effective Jan. 1, 2018. Fannie Mae adopted a three-year Underserved Markets Plan.

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Qualifying activities that promote residential economic diversity in one or more underserved markets would also receive Duty to serve credit. fhfa invites interested parties to submit comments on all aspects of the proposed rule within 90 days of publication in the Federal Register via FHFA.gov. (The proposed rule was published on 12/18/2015.

The Federal Housing finance agency announced Tuesday that it has sent a proposed rule to the Federal Register implementing provisions of the Housing and Economic Recovery Act of 2008, which.

Share This Page FHFA Issues Proposed Rule to Serve Underserved Markets December 16, 2015 / Source: Federal Housing Finance Agency The Federal Housing Finance Agency (FHFA) proposed a rule to implement the Duty to Serve provisions of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008.

The final rule does not mandate any particular activities, but requires the Enterprises to consider ways to better serve families in the three underserved markets. Underserved Markets Plans Process Under the final rule, Fannie Mae and Freddie Mac will each submit to FHFA a three-year Underserved Markets Plan that describes the activities and.

Qualifying activities that promote residential economic diversity in one or more underserved markets would also receive Duty to Serve credit. FHFA invites interested parties to submit comments on all aspects of the proposed rule within 90 days of publication in the Federal Register via FHFA.gov. (The proposed rule was published on 12/18/2015.

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