FHFA Seeks Public Input on the GSE’s Proposed Duty to Serve Plans for 2025-2027
Industry Update
June 11, 2024
Source: Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) has issued a request for input (RFI) on the proposed 2025-2027 Underserved Markets Plans (Plans) submitted by Fannie Mae and Freddie Mac (the Enterprises) under the Duty to Serve (DTS) program. The proposed Plans cover the period from January 1, 2025, to December 31, 2027.
“Providing sustainable liquidity for affordable housing preservation, rural housing, and manufactured housing in a safe and sound manner is a key component of the Enterprises’ statutory responsibility to serve underserved markets,” said Director Sandra L. Thompson. “I look forward to hearing the public’s input and feedback on the plans the Enterprises have proposed.”
FHFA issued a final rule in 2016 that implemented the DTS provisions of the Housing and Economic Recovery Act of 2008. The statute requires the Enterprises to serve three specified underserved markets — manufactured housing, affordable housing preservation, and rural housing — by increasing the liquidity of mortgage financing for very low-, low-, and moderate-income families in those markets.
FHFA invites interested parties to provide written input, feedback, and information on all aspects of the proposed Plans by August 12, 2024. The public can review the RFI and submit responses through the DTS page on FHFA’s website. FHFA also will hold three listening sessions to review the proposed Plans on July 15, 16, and 17.
The objectives outlined by the Enterprises to achieve proposed Plan activities will remain subject to FHFA review and approval to ensure compliance with the Enterprises’ Charter Acts, safety and soundness measures, and other conservatorship and regulatory requirements.
FHFA published the proposed Plans on its dedicated webpage, https://www.fhfa.gov/duty-serve-program.
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