On Dec. 10, 2015, the federal housing finance agency (fhfa) proposed a rule outlining the obligation that Fannie Mae and Freddie Mac serve three traditionally underserved markets: affordable rental housing preservation, rural housing and manufactured housing.Collectively, this obligation is known as the "Duty to Serve."
Under the proposed rule, Fannie Mae and Freddie Mac would be required to submit to the FHFA an Underserved Market Plan covering a three-year period, subject to public review and comment..
Just this week, the Federal Housing Finance Agency (the regulator for Fannie Mae and Freddie Mac) issued its proposed rule concerning its duty to serve “underserved markets” including manufactured.
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the members of the LIHTC Working Group, we respectfully submit our comments on the Federal Housing Finance Agency (FHFA) Proposed Rule on Enterprises Duty to Serve Underserved Markets (Proposed Rule). This proposed regulation implements the duty for the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage.
26In December 2015, FHFA issued a proposed rule to implement. volume of purchased loans in each underserved market relative to the.
Underserved Markets Plan 3-Year Activities and Objectives.. Housing Finance Agency (FHFA) under the Duty to Serve rule, we have now been asked to.. public comments on Freddie Mac's and Fannie Mae's Proposed Duty to Serve plans.
“If what we’ve heard about the proposed QRM rule is. before each holds a vote on the final rule. Agencies involved in the rulemaking also include the Department of Housing and Urban Development,
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 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.