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FHFA Proposes Rule On Underserved Markets

Agency (FHFA); and Department of Housing and Urban. the proposed rule the agencies published in the Federal Register. securitization markets are an important link in the chain of entities providing credit to.. allows eligible small creditors that operate predominantly in rural or underserved areas to.

– 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. This statute requires Fannie Mae and Freddie Mac (the Enterprises) to serve three specified underserved markets: manufactured housing, affordable housing preservation and rural markets.

The current FHFA director mark calabria has come. Later this year, Calabria plans to finalize the capital rule unless he has to re-propose it: If the agency goes forward with Watt’s proposal.

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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.

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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 corporation (freddie mac), hereafter collectively referred to as the Enterprises, to serve the following underserved markets-affordable housing

Pursuant to the same new rule, FHFA has also published a Proposed Evaluation Guidance to provide: (i) FHFA’s expectations regarding the development of the Underserved Markets Plans, and (ii) the process by which FHFA will evaluate Fannie’s and Freddie’s achievements under their Plans each year. The deadline for public input on FHFA’s.

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The proposed rule would establish a method for evaluating and rating the Enterprises’ compliance with the Duty to Serve each underserved market. The Proposed Rule was released to the public via agency website on December 15, 2015. Thank you for your submission to FHFA.

The Federal Housing Finance Agency (FHFA) has published Fannie Mae’s and Freddie Mac’s Underserved Markets Plans for 2018-2020 under the Duty to Serve program. The Plans become effective January 1, 2018.

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After some delay, in 2016, FHFA issued a final rule to implement the DTS. research on underserved markets, outreach to various market participants, and. of the Corker-Warner mortgage reform proposal circulated in 2018.

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