FHFA Proposes Rule On Underserved Markets

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.

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“To truly meet the needs of people in underserved areas, we need to open our mortgage finance system to more competition – because competition drives innovation,” said Federal Housing. all mortgage.

FHFA Announces Proposed Rule on Fannie and Freddie’s Duty to Serve On December 15, the Federal Housing Finance Agency (FHFA) released a proposed rule detailing fannie mae and Freddie Mac’s "duty-to-serve" underserved markets as required 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 objectives they will undertake to meet their Duty to Serve requirements.

FHFA Proposes Rule on GSEs’ Duty to Serve Low Income Markets on December 15, 2015 Mortgage , Newsbytes The Federal Housing Finance Agency today proposed a rule that would require Fannie Mae and Freddie Mac to submit plans for improving the distribution and availability of safe and sound residential mortgage financing in underserved markets.

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."

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Back in May, the Federal Housing Finance Agency requested public input on the GSE’s new proposed Underserved Markets Plans under the Duty to Serve program. The plans, also released in May, from Fannie.

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FHFA Issues Proposed Rule on Fannie Mae and Freddie Mac Duty to Serve underserved markets washington, D.C. – The Federal Housing Finance Agency (FHFA) is seeking comments on a proposed 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.