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Implement critical reforms that will produce a stronger and more resilient housing finance system.
FOSTER competitive, liquid, efficient, and resilient (CLEAR) national housing finance markets that support sustainable homeownership and affordable rental housing; OPERATE in a safe and sound manner appropriate for entities in conservatorship; and PREPARE for eventual exits from the conservatorships.
2019 Conservatorships Strategic Plan
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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,
Media: Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032Consumers: Consumer Communications or (202) 649-3811
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