On May 8, the Federal Housing Finance Agency (FHFA) released a draft underserved markets plans for Fannie Mae and Freddie Mac, as required under the agency’s Duty to Serve rule. The plans lay out the specific activities that each company will undertake over the next three years to better serve three underserved segments of the mortgage market — manufactured housing, affordable housing preservation and rural markets. FHFA is seeking public input on the plans by July 10. The rule was one of many topics discussed by FHFA Director Mel Watt during a hearing on housing finance before the Senate Banking Committee on May 11. To learn more about the Duty to Serve rule, see our blog post.
Published by Oklahoma Coalition for Affordable Housing
The vision of OCAH: That all Oklahomans have the opportunity to live in safe, healthy and affordable homes. Our Mission: To lead the movement to ensure that all residents of the state of Oklahoma flourish in safe, affordable homes and to help communities develop safe and affordable housing options for all of their residents. We reach our mission through advocacy, education and practical training to foster the production and maintenance of affordable housing throughout the state. View all posts by Oklahoma Coalition for Affordable Housing