FHFA Proposes Rule On Underserved Markets

FHFA has considered the impact of this proposed rule and the General Counsel of FHFA certifies that the proposed rule, if adopted as a final rule, is not likely to have a significant economic impact on a substantial number of small entities because it applies only to the Enterprises, which are not small entities for purposes of the Regulatory.

FHFA Proposes Rule on GSEs’ Duty to Serve Low Income Markets on December 15, 2015 Mortgage , Newsbytes The Federal housing finance agency today proposed a rule that would require fannie mae and Freddie Mac to submit plans for improving the distribution and availability of safe and sound residential mortgage financing in underserved markets.

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In addition, section 1335(d)(1) requires FHFA to establish a method for crediting the GSEs compliance with the Duty to serve underserved markets. On December 15, 2015, FHFA issued a proposed rule to implement HERA’s Duty to Serve requirements. As required by HERA, the proposed rule would have provided Duty to Serve credit for GSE activities.

Re: Enterprise Duty to Serve, RIN 2590. The underlying environment has changed significantly since FHFA issued its proposed duty to serve rule in 2010, so we request that FHFA consider whether it needs to re-propose its rule or at least make. and proactive service of underserved markets.

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WASHINGTON – The Federal Housing Finance Agency is planning to issue a final rule in the next 12 months to require Fannie Mae and Freddie Mac to better serve underserved markets, including.

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FHFA may, in its discretion, designate in the Evaluation Guidance one Statutory Activity or Regulatory Activity in each underserved market that FHFA will significantly consider in determining whether to provide a Non-Objection to that underserved market in a proposed Plan. (iv) FHFA Non-Objections to underserved markets in a proposed Plan.

Today Enterprise submitted comments to the Federal Housing finance agency (fhfa) on its proposed Duty to Serve rule, which requires fannie mae and Freddie Mac to support certain segments of the mortgage market that are traditionally underserved by private investors.

The Federal Housing Finance. multifamily market share will continue to decline in the coming years as the private sector becomes more involved in the multifamily market. FHFA is requesting comment.