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DTS 2020 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 2020, FHFA conducted virtual meetings with Fannie Mae and Freddie Mac to supplement the information provided by the Enterprises in their annual reports. 

FHFA has evaluated Fannie Mae and Freddie Mac’s 2020 Duty to Serve performance under their first Duty to Serve Plans, which covered the 2018-2020 period. FHFA has determined that each Enterprise complied with its Duty to Serve requirements in all three underserved markets in 2020. 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 early 2020, FHFA issued Evaluation Guidance 2020-4a, which includes changes to the evaluation process and rating scale for Enterprise Duty to Serve performance effective for the 2021 performance year. These changes were based on experience in the initial years of the program and changing priorities of FHFA. The major changes are intended to increase the impact of the program and include simplified partial credit calculations, a higher threshold to receive a rating of “Complies,” a higher minimum impact score requirement for extra credit, and a reduced extra credit adjustment. FHFA intends to release more granular ratings under Evaluation Guidance 2020-4a when the recalibrated rating scale goes into effect for the 2021 performance year.

Highlights of the Enterprises' 2020 performance are published in FHFA's 2021 Annual Housing Report to Congress. Data on the Enterprises' 2020 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 Purchase Increase liquidity for manufactured housing titled as real property through industry outreach and increasing purchases 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 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 Purchase 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 Product Increase affordable capital through industry outreach and developing loan financing solutions View Reports
Loan Purchase Increase the purchase of mortgage loans that finance the purchase or renovation of distressed properties 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 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 Purchase 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
Loan Purchase Establish a RED initiative to increase loan purchases relating to the Statutory Activity for Other Comparable State or Local Affordable Housing Programs 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 loans View Reports
Section 515
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
Loan Product Increase liquidity for Improvements that meet the FHFA Criteria by facilitating the adoption of enhanced industry standards and purchasing loans View Reports
Shared equity (Affordable homeownership preservation)
Loan Product Increase the purchase of mortgage loans that finance shared equity programs View Reports
Loan Product Increase liquidity for shared equity homeownership through outreach, research, and enhancing loan product solutions 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
Outreach Rebrand and market Fannie Mae's Native American Conventional Lending Initiative (NACLI) and purchase loans View Reports
Outreach Create and implement work-plans and purchase loans secured by multifamily housing for Native Americans and agricultural workers View Reports
Loan Product Purchase Single family NACLI and/or HUD Section 184 loans and produce loan products via supply variance and appraisals 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
Outreach Increase affordable capital through industry outreach and developing solutions to increase loan purchases View Reports
Loan Purchase Create a work-plan and increase multifamily loan purchases in Middle Appalachia, the Lower Mississippi Delta, rural tracts in persistent poverty counties, and the colonias View Reports
Loan Product Develop solutions to increase single-family loan purchases in high-needs rural regions View Reports
Outreach Develop a data visualization tool to provide rural affordable housing practitioners better insight into the social and economic conditions of 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
Financing by small institutions of rural housing
Loan Purchase Fannie Mae will increase loan purchases of single family loans in rural areas from small financial institutions View Reports
Outreach Purchase single-family rural loans through bulk transactions from small financial institutions View Reports
Loan Product 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 home communities (MHCs) owned by a governmental entity, non-profit organization or residents
Loan Purchase Purchase Resident-Owned Community Loans 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
Loan Purchase Purchase loans 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 home communities (MHCs) owned by a governmental entity, non-profit organization or residents
Loan Purchase Purchase Resident-Owned Community Loans 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
Loan Purchase Purchase loans 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
Financing of Small multifamily rental properties
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
Loan Product Create a mapping tool to enable deeper understanding of the various aspects of RED View Reports
Outreach Conduct and publish three research projects on states that prioritize, or could prioritize, RED in QAPs View Reports
Loan Product Develop a tool to identify LIHTC properties and Section 8 properties in areas of residential economic diversity for preservation around the country View Reports
Section 8
Loan Purchase Provide liquidity and stability through Section 8 loan purchases View Reports
Financing of Energy or Water Efficiency Improvements on Single-family Properties
Loan Product Research the relationship of energy efficient homes to property values and mortgage performance View Reports
Loan Product Develop valuation guidelines and data collection requirements View Reports
Loan Product Facilitate financing of energy efficiency improvements and energy efficient homes View Reports
Support for Shared Equity Programs for Affordable Housing Preservation
Loan Product Support standardization of data collection at the transaction level View Reports
Financing of Single-Family Properties in Opportunity Zones
Outreach Facilitate the creation and preservation of long-term affordable housing units in opportunity zones 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
Outreach Increase technical expertise 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 Research the use of and opportunity for LIHTC in support of persistent-poverty counties not included in other high-needs rural regions View Reports
Investment Engage in LIHTC equity investment View Reports
Outreach Facilitate thought leadership and research related to housing and mortgage financing in rural communities View Reports
Additional activity: LIHTC Investment in all Rural Areas
Investment Engage in LIHTC equity investment in all rural areas View Reports
Financing by Small Financial Institutions of Rural Housing
Loan Purchase Increase loan purchases from small financial institutions serving rural regions View Reports
Small Multifamily Rental Properties in Rural Areas
Loan Product Develop a tool to identify LIHTC properties and Section 8 properties for preservation around the country (Including DTS designations) View Reports

See past Quarterly and Annual Reports