FHFA Seeks Public Input on GSE Underserved Markets Plans – NMP Skip to main content

FHFA Seeks Public Input on GSE Underserved Markets Plans

Phil Hall
May 08, 2017
Mobile home

The Federal Housing Finance Agency (FHFA) is now seeking public input on Fannie Mae and Freddie Mac's proposed Underserved Markets Plans under the Duty to Serve program.   
 
The FHFA issued a final rule on Dec. 13, 2016 to implement the Duty to Serve provisions, which requires the government-sponsored enterprises (GSEs) to serve manufactured housing, affordable housing preservation and rural housing in what the regulator called “a safe and sound manner for residential properties that serve very low-, low-, and moderate-income families.” Fannie Mae and Freddie Mac will each need to adopt a three-year Underserved Markets Plan to fulfill this mandate. 
 
Public input will be accepted on a special FHFA webpage July 10, and the GSEs’ plans are required to receive the FHFA’s go-ahead before taking effect on Jan. 1, 2018.  FHFA Director Mel Watt stated that his agency “will evaluate stakeholder input as part of our review process to ensure that the plans help the Enterprises meet their statutory obligations in a safe and sound manner.”
 
Separately, the FHFA also announced that it extended the public input period on its proposed Evaluation Guidance for the Duty to Serve program from May 15 to June 7. The proposed Evaluation Guidance communicates the FHFA's expectations regarding the process for developing the Enterprises' Underserved Markets Plans and the process by which the agency will evaluate the GSEs' achievements under their plans each year. No explanation was given regarding why the deadline was extended.
Published
May 08, 2017
Homepoint Expands Refinance Program Offerings

Now offers Freddie Mac’s new refinance option, Refi Possible, making it easier for many homeowners with a Freddie Mac-owned mortgage to reduce their interest rate.

Industry News
Nov 30, 2021
Non-QM Lender Deephaven Hires Business Development VP

Dallas-based Tim Fisher charged with growing Deephaven’s correspondent business In Texas and surrounding states

Industry News
Nov 30, 2021
Biden Reappoints Powell As Federal Reserve Chairman

A signal that The Fed will continue its policies as inflation surges and economic uncertainty spikes due to an emerging variant of the coronavirus. 

Industry News
Nov 29, 2021
Servion Taps Sagent For Consumer-First Servicing Tech Stack

A 7-year deal between Servion Mortgage and Sagent will equip Servion with Sagent's tech stack for performing, non-performing, and consumer experience.

Tech
Nov 29, 2021
Guaranteed Rate's Banosian Funds $2B In Total Loan Volume

The mortgage industry shouldn't be surprised by Guaranteed Rate's top loan officer, Shant Banosian, funding $2 billion in total loan volume during a record-breaking year. After all, “The Billion Dollar Man” is one of the top 5 loan originators in the U.S.

Wholesale
Nov 29, 2021
Chairman Xu Sells Off Personal Assets To Avoid Default

The Evergrande saga continues as Chairman Xu Jiayin sells off 7 billion yuan ($1.1 billion) of his personal assets to prop up the deflating property giant.

Industry News
Nov 23, 2021