Policy

Policy News from the Administration

HAC Recommends FHFA and the GSEs Prioritize Addressing Inequity

HAC submitted comments in response to the Federal Housing Finance Agency’s (FHFA) Request for Input on the Enterprises’ 2022-2024 Duty to Serve Underserved Markets Plans. Through the Duty to Serve mandate, the Enterprises (Fannie Mae and Freddie Mac) are tasked with increasing liquidity and investment capital in three traditionally underserved markets: Rural Housing, Manufactured Housing, and Affordable Housing Preservation. HAC’s comment noted that secondary housing market policy is and has historically been part of a system that is delivering vastly different outcomes for people depending on where they are born – and this inequity must be addressed by more ambitious Duty to Serve investment and purchase goals.

Key Takeaways from HAC’s Comments

 

  • Be Ambitious

    More ambitious purchase and investment goals are needed as we enter the next phase of Duty to Serve.

  • Prioritize Equity

    Racial and geographic equity should be core to the Duty to Serve mission.

  • Encourage Partnership

    Strong rural partnerships are essential to Duty to Serve’s success.

  • Measure Success

    More transparent data is needed for stakeholders to truly understand and evaluate the success of Duty to Serve.