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FHFA Proposes Rule to Increase Lending to Underserved Markets
Thursday, December 17, 2015
The Federal Housing Finance Agency
(FHFA) has posted a proposed new rule for comment that seeks to provide greater
access to affordable housing for three underserved markets. The rule would require the two government
sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to devise a three year
plan to improve lending to manufactured housing, rural markets, and affordable
housing preservation. In all three markets the targets would be very low- low-
and moderate-income families. The rule
would 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 (HERA) of 2008.
Both GSEs have been in conservatorship under FHFA since 2008.
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