NAHMA Update: Fannie Mae and Freddie Mac publish Underserved MarketsPlans for Public Input, Member comments due to NAHMA by June 30, 2017May 16, 2017 On May 8, the Federal Housing Finance Agency’s (FHFA) published draft underserved markets plans for Fannie Mae and Freddie Mac, as required under the FHFA’s Duty to Serve rule (DTS). Under DTS rule, each GSE must submit a three-year Underserved Markets Plan that describes the actions and objectives they will undertake to meet their requirements to better serve three underserved segments of the mortgage market — manufactured housing, affordable housing preservation, and rural housing. FHFA is seeking public input on the plans. NAHMA encourages members to review the Affordable Housing Preservation and Rural Housing sections of each plan, as it provides excellent analysis of the affordable housing market and their plans/products for key federal programs (LIHTC, the Section 8 program, RAD and USDA rural housing programs). Please provide any comments on the Underserved Market Plans to me by June 30, 2017.
To review the FHFA’s DTS Rule, please see the attached DTS factsheet. For additional information, please visit the FHFA’s DTS program website. |