Underserved Markets Plans (Revised 12/11/2025)
FHFA published Fannie Mae and Freddie Mac’s (the Enterprises’) 2025-2027 Underserved Markets Plans on November 25, 2024. The Plans became effective on January 1, 2025.
Under the Duty to Serve regulation 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 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.
Modified Plans (January 2026)
Fannie Mae
- Modified Fannie Mae Underserved Markets Plan
- Fannie Mae Underserved Markets Plan Redline
- Fannie Mae Modification Justifications
Freddie Mac
- Modified Freddie Mac Underserved Markets Plan
- Freddie Mac Underserved Markets Plan Redline
- Freddie Mac Modification Justifications
Final Plans (November 2024)
- Fannie Mae’s Underserved Markets Plan (revised on February 27, 2025)
- Fannie Mae’s Underserved Markets Plan Redlined (revised on February 27, 2025)
- Freddie Mac’s Underserved Markets Plan
View our Modified Underserved Markets Plans page for all prior Duty to Serve Plan cycles.