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FHFA Requests Public Input on Duty to Serve Program

Seeks Input on Chattel Loan Pilot Initiatives and Proposed Evaluation Guidance


Washington, D.C. – The Federal Housing Finance Agency (FHFA) is requesting public input on chattel loan pilot initiatives for Fannie Mae and Freddie Mac (the Enterprises) and the proposed Evaluation Guidance under the final rule on Duty to Serve Underserved Markets.

FHFA issued a final rule on Dec. 13, 2016 to implement the Duty to Serve provisions mandated by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended 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 improving the distribution and availability of mortgage financing in a safe and sound manner for residential properties that serve very low-, low-, and moderate-income families in these markets.  The rule requires each of the Enterprises to adopt three-year Underserved Markets Plans to fulfill this mandate.   

After considering comments on the proposed rule, the final rule established as a Regulatory Activity Enterprise activities designed to facilitate a secondary market for loans on manufactured homes titled as personal property, also referred to as chattel, through pilot initiatives undertaken in a safe and sound manner.  FHFA is issuing this Request for Input on what an Enterprise should include in a chattel pilot initiative, if an Enterprise decides to pursue a pilot initiative.

FHFA also seeks public input on its proposed Evaluation Guidance, released January 13, which communicates FHFA's expectations regarding the process for developing the Enterprises' Underserved Markets Plans as well as the process by which FHFA will evaluate the Enterprises' achievements under their Plans each year.

FHFA requests input through its dedicated webpage, www.FHFA.gov/DTS, on potential manufactured home chattel loans pilots by Feb. 17, 2017* and on its proposed Evaluation Guidance by May 15, 2017.

Link to Request for Input on Potential Manufactured Home Chattel Loans Pilots

Link to FHFA's Proposed Evaluation Guidance

*News Release of 2/8/2017 - Deadline for Public Input on Potential Chattel Loan Pilot Extended to 3/21/2017



The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.8 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: Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030
Consumers: Consumer Communications or (202) 649-3811

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