The proposed rule, according to the press release, creates certain eligible activities that would earn Duty to Serve credits. Under the proposed rule, Fannie Mae and Freddie Mac would be required to submit to FHFA an Underserved Market Plan covering a three-year period, subject to public review and comment.
FHFA Announces Proposed Rule on Fannie and Freddie’s Duty to Serve On December 15, the Federal Housing Finance Agency (FHFA) released a proposed rule detailing Fannie Mae and Freddie Mac’s "duty-to-serve" underserved markets as required by the "Housing and Economic Recovery Act of 2008."
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FHFA Issues Proposed Rule on Fannie Mae and Freddie Mac Duty to Serve Underserved Markets Washington, D.C. – 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.
“The CHLA calls on FHFA to delay finalization of the rule, pending further study about. and moderate income and minority homebuyers and in underserved markets,” the letter states. “The proposed.
. Update on FHFA's Proposed Rule on Duty to Serve Underserved Markets. The overarching goal of this Duty to Serve proposed rule is to.
Under the final rule, Fannie Mae and Freddie Mac will each submit to FHFA a three-year Underserved Markets Plan that describes the activities and objectives they will undertake to meet their Duty to Serve requirements.
Background. On December 15, 2015, FHFA issued a proposed rule on Fannie Mae and Freddie Mac Duty to Serve Underserved Markets.
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FHFA has issued a proposed rule that seeks to strike a balance between the requirement that the Enterprises serve families in these markets and their continued safety and soundness. underserved markets plans Under the proposed rule , the Enterprises would each be required to submit to FHFA a draft Underserved Markets Plan
FHFA Issues Proposed Rule on Fannie Mae and Freddie Mac Duty to. to serve three specified underserved markets: manufactured housing,
The proposal, issued in June, would assess the GSEs’ credit risk for different mortgage categories and include market. FHFA’s proposed capital plan is too procyclical, which could leave the.
Each Enterprise adopted a three-year Underserved Markets Plan.. to Serve rule and FHFA's Evaluation Guidance, an Enterprise may propose.