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FHFA Announces Final Rule for New Enterprise Products and Activities


​​​Washington, D.C. – The Federal Housing Finance Agency (FHFA) today published a final rule that requires Fannie Mae and Freddie Mac (the Enterprises) to provide advance notice to FHFA of new activities and obtain prior approval before launching new products.

“The final rule clarifies how FHFA will conduct assessments of new activities and products proposed by the Enterprises,” said Director Sandra L. Thompson. “Enterprise activities can have significant effects on the mortgage market, consumers, and industry stakeholders, and today’s rule further refines FHFA’s process to ensure activities continue to serve the Enterprises’ mission while maintaining high standards of safety and soundness.”

To facilitate implementation, the final rule defines “activity” and clarifies which categories of activities would be considered as “new.” Today’s rule establishes that FHFA will determine which new activities merit public notice and comment, and therefore should be treated as new products and subject to prior approval. In addition, the final rule establishes a public disclosure requirement for FHFA to publish its determinations on new activity and new product submissions.

The final rule implements Section 1321 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by Section 1123 of the Housing and Economic Recovery Act of 2008.​

The final rule will be effective 60 days from the date it is published in the Federal Register.

Link to Final Rule

Link to Fact Sheet



The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $8.1 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter, @FHFA, YouTube, Facebook, and LinkedIn.

​Adam Russell  Adam.Russell@FHFA.gov​

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