Skip to main content

FHFA Reveals 2021 'Duty To Serve' Plans For Fannie And Freddie

Navi Persaud
Jan 06, 2021
FHFA headquarters

The Federal Housing Finance Agency unveiled the Duty to Serve program in its latest 2021 Underserved Market Plans for Fannie Mae and Freddie Mac. The plan took effect on Jan. 1, 2021.

The final rule for the FHFA's DTS program was implemented in 2016 following provisions that were mandated by the Housing and Economic Recovery Act of 2008. It requires that Freddie and Fannie serve three specified underserved markets that include manufactured housing, affordable housing preservation and rural housing. In order to support these three markets, Fannie and Freddie had to increase liquidity of mortgage financing for very low-, low- and moderate-income families, according to a press release.

"Under ordinary circumstances, each Enterprise would have submitted a three-year Plan for 2021-2023 in accordance with the DTS mandate," according to the release.

"Due to potential market disruption and uncertainty as a result of the COVID-19 pandemic, FHFA instructed the Enterprises to submit Plans for one year (2021) only, as an extension of their 2018-2020 Plans."

Click here to see Fannie and Freddie's underserved market plans in detail.

Published
Jan 06, 2021
Rocket Pro Announces Major Initiatives

Company brings Rocket Tech, the Rocket Network and Rocket Marketing to mortgage brokers across the country

Industry News
Oct 19, 2021
FormFree Taps Amazon Web Services For Consumer Financial Identity Solutions

FormFree will use Amazon's blockchain technology to manage its latest consumer Financial DNA solution and its newly introduced FormFree Exchange.

Tech
Oct 19, 2021
Synergy One Lending Increases Its Capital By $50M

San Diego-based Synergy One Lending Inc. completed a $50 million corporate note financing with a consortium of institutional investors.

Industry News
Oct 19, 2021
TransUnion Sees Untapped Growth Opportunity For The Mortgage Industry

A study conducted by TransUnion, which explores the creditworthiness of low-to-moderate income consumers, revealed that the segment represents a $300 billion growth opportunity for the mortgage industry.

Analysis and Data
Oct 19, 2021
Zillow Stock Falls After It Halts Buying Houses To Flip

Zillow’s stock fell nearly 10% Monday after the company announced its Zillow Offers division would stop buying homes.

Industry News
Oct 19, 2021
MBA Swears In New Officers For 2021-22

Kristy Fercho, executive vice president and head of home lending at Wells Fargo, is the new chairman.

Industry News
Oct 18, 2021