The Housing and Economic Recovery Act of 2008 mandates that Fannie Mae and Freddie Mac have a ‘Duty to Serve’ three traditionally underserved markets of:
Rural Housing
Manufactured Housing
Affordable Housing Preservation
The GSEs are tasked with increasing liquidity and investment capital in these markets.
The Federal Housing Finance Agency (FHFA) issued a Proposed Rule on Duty to Serve on December 15, 2015. Comments to the Rule were due on March 17, 2016.
The Federal Housing Finance Agency (FHFA) has re-issued a proposed rule on Duty To Serve. Through HERA, GSEs have a ‘duty to serve’ traditionally underserved markets of rural, preservation, and manufactured housing. Comments are due in 90 days.
The Housing Assistance Council’s comments on the notice of the Duty To Serve Underserved Markets for Enterprises; Proposed Rule. 12 CFR Part 1282, RIN 2590-AA27 are available below.
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Posted: September 18, 2009
If you have problems accessing any of the material on this page, contact Janice Clark at HAC, janice@ruralhome.org, 202-842-8600.