Fannie Mae Requests Changes in Duty to Serve Plans

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Posted To: MND NewsWire

Nearly two years ago the Federal Housing Finance Agency (FHFA) approved Underserved Market Plans from Fannie Mae and Freddie Mac. These plans, part of FHFA’s Duty to Serve mandate to the two GSEs, set forth their plans for serving three specific markets, manufactured housing, affordable housing preservation, and rural housing, by increasing the liquidity of mortgage investments and improving the distribution of capital available for mortgage financing for very low-, low-, and moderate-income families in the three markets. The plans went into effect at the first of the year, and the GSEs have used them to set several programs in motion. Most recent was last week’s announcement from Freddie Mac of an intent to expand mortgages available to shared equity housing arrangements. FHFA is now requesting…(read more)

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