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FHFA Proposes Rule On Underserved Markets

The proposed rule did not include chattel lending as an eligible activity under the manufactured housing market, thereby leaving out seventy percent of the market. FHFA merely requested comment on whether the Enterprises should receive Duty to Serve credit for purchasing chattel loans, either on a pilot or an ongoing basis.

The Markets Noteworthy. On July 2, 2019, the Federal Housing Finance Agency published Fannie Mae’s modified Underserved Markets Plans for 2018-2020 under the Duty to Serve program. The Plan, originally published Dec. 18, 2017 became effective Jan. 1, 2018. Fannie Mae adopted a three-year Underserved Markets Plan.

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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.

their mission of supporting a stable and liquid national market for residential mortgage financing continues. The FHFA requested interested parties are invited to submit comments on the proposed rule.

The new rule requires each of the GSEs to adopt a three. stakeholders to submit feedback on Fannie Mae and Freddie Mac’s proposed Duty to Serve Underserved Markets Plans,” FHFA Director Melvin Watt.

Public input on the proposed Plan can be provided through July 10, 2017 on FHFA’s DTS Draft Underserved Markets Plans Input page. "We are excited that the Duty to Serve rule aligns with our mission.

and resilient national housing finance markets. Finally, the proposed rule clarifies the status of claims against the conservator or receiver for breach of contract. FHFA said it invites comments on.

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FHFA Proposes Rule on Fannie Mae and Freddie Mac Requirements for Underserved Markets . Washington, DC – The Federal Housing Finance Agency (FHFA) has sent to the Federal Register a proposed rule implementing provisions of the Housing and Economic Recovery Act of 2008 (HERA) that establish a duty for Fannie Mae and Freddie Mac (the Enterprises) to

Director Watt’s proposed rule would perpetuate and. with the new incoming Director of FHFA. We presume that the next Director will share Congress’s desire for a competitive and fair credit scoring.

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NCSHA recently submitted a letter to the Federal Housing Finance Agency (FHFA) commenting on its proposed Enterprise Duty to Serve Underserved Markets rule.FHFA’s proposal, which was released in December, would require the Government-Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac to develop and implement plans to serve lower income families through activities related to manufactured.

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