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FHFA Publishes Fannie Mae and Freddie Mac's Modified Underserved Markets Plans for Duty to Serve Program


Washington, D.C.  The Federal Housing Finance Agency (FHFA) today published Fannie Mae and Freddie Mac's (the Enterprises) modified Underserved Markets Plans for 2018-2020 under the Duty to Serve program.  The Plans, originally published Dec. 18, 2017 became effective Jan. 1, 2018.  

FHFA requested public input in October 2018 on the Enterprises' proposed Duty to Serve Plan modifications.  FHFA specifically solicited input on four of Fannie Mae's proposed 22 modifications, and did not seek input on Freddie Mac's one proposed modification, which was deemed a correction.  FHFA received 166 letters responding to the proposed Plan modifications.  FHFA considered this feedback in issuing Non-Objections to the Enterprises' proposed modified Plans.

FHFA published a final rule in 2016 to implement the Duty to Serve provisions mandated by the Housing and Economic Recovery Act of 2008.  The statute requires the Enterprises to serve three specified underserved markets – manufactured housing, affordable housing preservation and rural housing – by increasing the liquidity of mortgage financing for very low-, low-, and moderate-income families. 

Each Enterprise adopted a three-year Underserved Markets Plan.  The activities proposed by the Enterprises are subject to FHFA review and approval to ensure compliance with the Enterprises' Charter Acts, safety and soundness, and other conservatorship and regulatory requirements.  Under the Duty to Serve rule and FHFA's Evaluation Guidance, an Enterprise may propose to modify its Plan at any point if future events affect its ability to achieve the Plan's original objectives.

The Enterprises' modified Plans can be found on FHFA's dedicated Duty to Serve program webpage, www.FHFA.gov/DTS.



The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $6.2 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube and LinkedIn.

Media: Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032
Consumers: Consumer Communications or (202) 649-3811

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