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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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