DTS 2019 Enterprise Annual Reports

To enable FHFA's evaluations, each Enterprise submits quarterly and annual reports detailing its actions and progress toward achieving the objectives in its Plan. FHFA makes these quarterly and annual reports public, omitting any confidential and proprietary information. These reports contain the Enterprises’ views on their Duty to Serve activities and do not necessarily reflect FHFA’s views.

In 2019, FHFA conducted virtual meetings with Fannie Mae and Freddie Mac to supplement the information provided by the Enterprises in their annual reports.

Click here to download a summary of the meetings with Fannie Mae.
Click here to download a summary of the meetings with Freddie Mac.

FHFA has determined that each Enterprise complied with its Duty to Serve requirements in all three underserved markets. In addition, FHFA finds that each Enterprise performed a satisfactory job of increasing the liquidity and distribution of available capital in each of the three underserved markets. In 2019, FHFA issued revised Evaluation Guidance that includes changes to the evaluation process and rating scale for Enterprise performance. These changes were based on experience in the initial years of the program. FHFA intends to release more granular ratings when the recalibrated rating scale goes into effect.

Highlights of the Enterprises' 2019 performance are published in FHFA's 2020 Annual Housing Report to Congress. Data on the Enterprises' 2019 Duty to Serve-qualifying loan purchases is available on the Data and Tools section of the Duty to Serve page.

Type	Description	Report
Manufactured homes titled as real property
Loan Purchase	Increase the purchase volume of conventional manufactured housing secured by real estate each year of the Plan	View Reports
Loan Product	Develop an enhanced manufactured housing loan product for quality manufactured housing and purchase loans	View Reports
Manufactured homes titled as personal property (chattel)
Outreach	Conduct outreach, perform research and promote information sharing that supports the development of a chattel loan pilot and market standardization of the product	View Reports
Loan Purchase	Establish a chattel loan pilot structure and secure approval from FHFA to purchase chattel loans	View Reports
Loan Product	Establish a chattel loan pilot structure and secure approval from FHFA to purchase chattel loans	View Reports
Manufactured home communities (MHCs) owned by a governmental entity, non-profit organization or residents
Loan Product	Increase liquidity to governmental entity, non-profit organization or resident-owned MHC (collectively “Non-Traditional Owners") through research, data analysis, loan product review and enhancement, implementing a pilot for resident-owned MHC and publishing Fannie Mae's experiences	View Reports
Manufactured home communities (MHCs) with certain tenant pad lease protections
Loan Purchase	Conduct research and outreach to determine market opportunities for FHFA's proposed minimum tenant pad lease protections (FHFA Pad Requirements), offer one loan product enhancement and acquire loans	View Reports

Type	Description	Report
Purchase or rehabilitation of distressed properties
Loan Purchase	Increase the purchase of mortgage loans that finance the purchase or rehabilitation of certain distressed properties	View Reports
Loan Product	Increase affordable capital through industry outreach and developing loan financing solutions	View Reports
Low-income housing tax credit (LIHTC) debt
Loan purchase	Increase purchases of mortgages secured by LIHTC Properties	View Reports
Multifamily energy efficiency improvements
Loan Product	Engage stakeholders and conduct research to increase awareness and understanding of energy or water efficiency improvements and financing needs	View Reports
Outreach	Facilitate the establishment and dissemination of energy or water efficiency improvements finance industry standards that will facilitate increased liquidity to the multifamily energy efficiency improvements finance market	View Reports
Loan Purchase	Purchase multifamily loans that finance energy or water improvements that meet the FHFA Criteria	View Reports
Small multifamily rental properties
Loan Purchase	Adopt effective approach to purchase small multifamily loans from financial entities with $10 billion or less in assets and purchase loans	View Reports
HUD Rental Assistance Demonstration (RAD) program
Loan Product	Conduct outreach, review potential loan product enhancements and purchase loans secured by RAD properties	View Reports
Additional Activity: Residential Economic Diversity
Loan Purchase	Establish a RED initiative to increase loan purchases relating to the Statutory Activity for the provision of debt for LIHTC under Section 42 of the Internal Revenue Code	View Reports
Outreach	Outreach and Stakeholder Engagement on the importance of Residential Economic Diversity in community-level, household and individual outcomes	View Reports
Loan Product	Develop and approve product enhancements designed to improve affordable housing preservation and development in High Opportunity Areas	View Reports
Section 202
Loan Purchase	Consider loan product changes, prepare work-plan and purchase Section 202 loans	View Reports
Section 515
Loan Purchase	Work with USDA and other stakeholders to adopt approach resulting in increased liquidity for preservation of Section 515 properties and purchase Section 515 loans	View Reports
Outreach	Work with USDA and other stakeholders to adopt approach resulting in increased preservation of Section 515 properties and purchase Section 515 loans	View Reports
Section 8
Loan Purchase	Purchase loans secured by properties served by the Section 8 program	View Reports
Single-family energy efficiency improvements
Loan Product	Increase liquidity for energy or water efficiency improvements through outreach, research and developing solutions	View Reports
Shared equity (Affordable homeownership preservation)
Loan Purchase	Increase the purchase of mortgage loans that finance shared equity programs	View Reports
Loan Product	Increase the purchase of mortgage loans that finance shared equity programs	View Reports
Comparable state or local affordable housing programs
Loan Purchase	Expand Fannie Mae's multifamily affordable housing (MAH) definition to support other comparable State or local programs to preserve affordable housing and purchase loans	View Reports

Type	Description	Report
Housing for high-needs rural populations
Loan Product	Purchase single-family NACLI and/or HUD Section 184 loans and produce loan products via supply variance and appraisals	View Reports
Outreach	Rebrand and market Fannie Mae's Native American Conventional Lending Initiative (NACLI)	View Reports
Housing in high-needs rural regions
Loan Purchase	Fannie Mae will increase single-family loan purchases in high-needs rural regions	View Reports
Loan Product	Develop solutions to increase single-family loan purchases in high-needs rural regions	View Reports
Outreach	Increase affordable capital through industry outreach in high-needs rural regions	View Reports
Additional activity: Rural LIHTC equity investments
Investment	Invest in LIHTC properties including housing associated with other Statutory and Regulatory Activities	View Reports
Rural small financial institutions
Loan Purchase	Fannie Mae will increase loan purchases of single family loans in rural areas from small financial institutions	View Reports
Outreach	Gain an understanding of the challenges and opportunities for small financial institutions in rural areas through outreach	View Reports
Rural small multifamily properties
Loan Purchase	Identify market opportunities to purchase small multifamily loans in rural areas	View Reports

Type	Description	Report
Manufactured homes titled as real property
Loan Purchase	Increase single-family loan purchases of manufactured housing titled as real property	View Reports
Loan Product	Design new product flexibilities to facilitate the origination of mortgages securing manufactured housing titled as real property	View Reports
Outreach	Increase homebuyer access to education and resources	View Reports
Manufactured homes titled as personal property (chattel)
Outreach	Conduct market outreach to support chattel pilot and increased access to homebuyer education	View Reports
Loan Product	Develop initiative guidelines for chattel pilot and initiate chattel purchases	View Reports
Loan Purchase	Develop initiative guidelines for chattel pilot and initiate chattel purchases	View Reports
Manufactured home communities (MHCs) owned by a governmental entity, non-profit organization or residents
Outreach	Promote understanding of the Resident-Owned Communities market	View Reports
Loan Product	Develop a new offering for Resident-Owned Communities	View Reports
Manufactured home communities (MHCs) with certain tenant pad lease protections
Loan Product	Develop pilot offering for borrowers that institute Duty to Serve tenant protections	View Reports

Type	Description	Report
Manufactured homes titled as real property
Loan Purchase	Increase single-family loan purchases of manufactured housing titled as real property	View Reports
Loan Product	Design new product flexibilities to facilitate the origination of mortgages securing manufactured housing titled as real property	View Reports
Outreach	Increase homebuyer access to education and resources	View Reports
Manufactured homes titled as personal property (chattel)
Outreach	Conduct market outreach to support chattel pilot and increased access to homebuyer education	View Reports
Loan Product	Develop initiative guidelines for chattel pilot and initiate chattel purchases	View Reports
Loan Purchase	Develop initiative guidelines for chattel pilot and initiate chattel purchases	View Reports
Manufactured home communities (MHCs) owned by a governmental entity, non-profit organization or residents
Outreach	Promote understanding of the Resident-Owned Communities market	View Reports
Loan Product	Develop a new offering for Resident-Owned Communities	View Reports
Manufactured home communities (MHCs) with certain tenant pad lease protections
Loan Product	Develop pilot offering for borrowers that institute Duty to Serve tenant protections	View Reports

Type	Description	Report
Low-income housing tax credit (LIHTC) debt
Loan Purchase	Provide liquidity and stability through LIHTC loan purchases	View Reports
Multifamily energy efficiency improvements
Outreach	Publish an annual study of energy and water efficiency through the Green Advantage program	View Reports
Small multifamily rental properties
Loan Product	Develop a new offering for Small Balance Loan participation securitization	View Reports
Loan Purchase	Purchase/Guaranty seasoned Small Balance Loans from Small Financial Institutions	View Reports
HUD Rental Assistance Demonstration (RAD) program
Loan Purchase	Provide liquidity and stability through RAD loan purchases	View Reports
Additional Activity: Residential Economic Diversity
Loan Purchase	Purchase loans on properties that support Residential Economic Diversity	View Reports
Outreach	Conduct and publish three research projects on housing in Areas of Concentrated Poverty (QCTs and R/ECAPS)	View Reports
Section 8
Loan Purchase	Provide liquidity and stability through Section 8 loan purchases	View Reports
Single-family energy efficiency improvements
Loan Product	Research the relationship of energy efficient homes to property values and mortgage performance	View Reports
Shared equity (Affordable homeownership preservation)
Loan Product	Develop product flexibilities and guidelines that facilitate new mortgage originations under shared equity programs	View Reports
Outreach	Promote market awareness of shared equity programs	View Reports

Type	Description	Report
Low-income housing tax credit (LIHTC) debt
Loan Purchase	Provide liquidity and stability through LIHTC loan purchases	View Reports
Multifamily energy efficiency improvements
Outreach	Publish an annual study of energy and water efficiency through the Green Advantage program	View Reports
Small multifamily rental properties
Loan Product	Develop a new offering for Small Balance Loan participation securitization	View Reports
Loan Purchase	Purchase/Guaranty seasoned Small Balance Loans from Small Financial Institutions	View Reports
HUD Rental Assistance Demonstration (RAD) program
Loan Purchase	Provide liquidity and stability through RAD loan purchases	View Reports
Additional Activity: Residential Economic Diversity
Loan Purchase	Purchase loans on properties that support Residential Economic Diversity	View Reports
Outreach	Conduct and publish three research projects on housing in Areas of Concentrated Poverty (QCTs and R/ECAPS)	View Reports
Section 8
Loan Purchase	Provide liquidity and stability through Section 8 loan purchases	View Reports
Single-family energy efficiency improvements
Loan Product	Research the relationship of energy efficient homes to property values and mortgage performance	View Reports
Shared equity (Affordable homeownership preservation)
Loan Product	Develop product flexibilities and guidelines that facilitate new mortgage originations under shared equity programs	View Reports
Outreach	Promote market awareness of shared equity programs	View Reports

Type	Description	Report
Housing for high-needs rural populations
Outreach	Increase homebuyer access to education and resources for members of a federally recognized Indian tribe in Indian areas	View Reports
Investment	Engage in LIHTC equity investment	View Reports
Housing in high-needs rural regions
Loan Purchase	Increase single-family loan purchases in high-needs rural regions	View Reports
Loan Product	Design new product flexibilities to facilitate the origination of mortgages in high-needs rural regions	View Reports
Outreach	Increase future homebuyer access to education and resources	View Reports
Investment	Engage in LIHTC equity investment	View Reports
Additional activity: Rural LIHTC equity investments
Investment	Engage in LIHTC equity investment in all rural areas	View Reports
Rural small financial institutions
Loan Purchase	Increase loan purchases from small financial institutions serving rural regions	View Reports
Rural small multifamily properties
Loan Product	Research and develop a new offering to support the USDA Section 538 Program	View Reports

See past Quarterly and Annual Reports