The Federal Housing Finance Agency (FHFA) recently issued a final rule requiring Fannie Mae and Freddie Mac to serve three underserved markets in accordance with “Duty to Serve” provisions.
These provisions are mandated by the Housing and Economic Recovery Act, which amended the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. The underserved markets specified in the provisions are: manufactured housing, affordable housing preservation and rural housing.
Read on to find out what this means for Fannie Mae and Freddie Mac.