The Federal Housing Finance Agency (FHFA) is requesting public input on Fannie Mae and Freddie Mac’s (the Enterprises) proposed modifications to their 2018-2020 Underserved Markets Plans (Plans) under the Duty to Serve (DTS) program.

Fannie Mae has submitted 22 modification requests to FHFA, and FHFA has identified 4 for public input. FHFA will consider all 22 modification requests as part of its review process, and FHFA and Fannie Mae will publish any approved modifications in December 2018.  Highlighted below are the proposals relating to multifamily and affordable housing:

  • Invest in LIHTC Properties Activity, FNM_RH_E-1: Rural Housing, invest in LIHTC properties activity. Objective #1: Modify actions to reflect revised rural investment targets based on enhanced market insight and experience since re-entering the LIHTC equity market.
  • Financing by Small Financial Institutions Activity, FNM_RH_C-3: Rural Housing, Objective #3 (New Objective): New objective has been added to understand more about small financial institutions in rural areas.

Freddie Mac submitted one modification, correcting a miscalculation in a baseline and a target. FHFA has identified this type of modification as one in which public input is not needed to make a scoring determination. As a result, FHFA is not requesting public input on this proposed modification. FHFA will consider this modification request as part of its review process, and FHFA and Freddie Mac will publish the modification, if approved, in December 2018.

Click here to download additional details on both GSE’s proposals.

Public Input Instructions

FHFA will accept public input on this request for input no later than November 2, 2018. Submissions may be delivered by one of the following three ways:

  1. Emailed to FHFA at DutytoServeStakeholders@FHFA.gov with the notation “Plan Modifications RFI” in the subject line;
  2. Submitted to the DTS webpage at https://www.fhfa.gov/PolicyProgramsResearch/Programs/Pages/Duty-to-Serve.aspx; or
  3. Addressed to FHFA, Division of Housing Mission and Goals, 400 Seventh Street, S.W., Seventh Floor, Washington, D.C. 20219. Submissions to FHFA will be publicly posted without change, including personal information such as name, street address, email address, and telephone number.