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Exception to Restrictions on Private Transfer Fee Covenants for Loans Meeting Certain Duty To Serve Shared Equity Loan Program Requirements Proposed Rule

Open Date:
Open for comment 9/26/2023
All comments are due by 11/27/2023
Notice of Proposed Rulemaking
Fannie Mae; FHLBanks; Freddie Mac
Document Number:
12 CFR Part 1228
CFR Description:
Restrictions on the Acquisition of, or Taking Security Interests in, Mortgages on Properties Encumbered by Certain PTF Covenants and Related Securitie
Federal Register Publish Date:
View Document:
Contact Information:

FOR FURTHER INFORMATION CONTACT:  Ted Wartell, Associate Director, Office of Housing and Community Investment (OHCI), 202-649-3157, ted.wartell@fhfa.gov; or Sara L. Todd, Assistant General Counsel, Office of General Counsel (OGC), 202-649-3527, sara.todd@fhfa.gov; Federal Housing Finance Agency, 400 Seventh Street SW, Washington, DC 20219. These are not toll-free numbers. The mailing address for each contact is: Federal Housing Finance Agency, Fourth Floor, 400 Seventh Street SW, Washington, DC 20219. For TTY/TRS users with disabilities, dial 711 and ask to be connected to any of the contact numbers above.

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SUMMARY:  The Federal Housing Finance Agency (FHFA) is proposing to amend its regulation that restricts its regulated entities--the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, the Enterprises), and the Federal Home Loan Banks(Banks)--from purchasing, investing in, accepting as collateral, or otherwise dealing in mortgages on properties encumbered by certain types of private transfer fee covenants (PTFCs), and in related securities, subject to certain exceptions (PTFC Regulation). The proposed rule would establish an additional exception to the restrictions for loans on properties with PTFCs, and related securities, if the loans meet certain shared equity loan program requirements for Resale Restriction Programs in FHFA's Duty to Serve Underserved Markets Regulation (Duty to Serve Regulation).

DATES:  Written comments on the proposed rule must be received on or before November 27, 2023.

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