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FHFA Proposes Rule On Underserved Markets

Florida Mortgage Fraud Florida Housing finance corporation (florida housing) was created by the state Legislature 35 years ago to assist in providing a range of affordable housing opportunities for residents that help make florida communities great places in which to live, work and do business. Our vision is to be recognized as an outstanding provider of innovative, measurable, data-driven and fiscally sustainable.

Qualifying activities that promote residential economic diversity in one or more underserved markets would also receive Duty to serve credit. fhfa invites interested parties to submit comments on all aspects of the proposed rule within 90 days of publication in the Federal Register via FHFA.gov. (The proposed rule was published on 12/18/2015.

and resilient national housing finance markets. Finally, the proposed rule clarifies the status of claims against the conservator or receiver for breach of contract. FHFA said it invites comments on.

The proposed rule comes one day after hud secretary ben carson assured members of Congress the agency had no plans to eliminate the 2012 Equal Access Rule, which barred federal housing discrimination.

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On Dec. 10, 2015, the Federal Housing Finance Agency (FHFA) proposed a rule outlining the obligation that Fannie Mae and Freddie Mac serve three traditionally underserved markets: affordable rental housing preservation, rural housing and manufactured housing.Collectively, this obligation is known as the "Duty to Serve."

Freddie Mac Statement on FHFA Duty to Serve Final Rule (12/13/2016). Final Rule. superseded fannie mae proposed underserved Markets Plan (5/8/2017) .

Tight mortgage conditions also strain the rental housing market, with.. such as FHFA's proposed rule mandating a duty to serve underserved.

Enterprise Duty to Serve Underserved Markets Proposed Rule. contact is: Federal Housing Finance Agency, 400 7th Street, SW., Washington,

the members of the LIHTC Working Group, we respectfully submit our comments on the Federal Housing Finance Agency (FHFA) Proposed Rule on Enterprises Duty to Serve Underserved Markets (Proposed Rule). This proposed regulation implements the duty for the federal national mortgage Association (Fannie Mae) and Federal Home Loan Mortgage.

Delivering mortgage loans to the secondary market through Freddie. Mac can help. in three specific underserved markets: manufac- tured housing. 22 The Duty to Serve regulation allows Fannie Mae and Freddie Mac to request to modify. on the proposed modifications, and the FHFA must provide a “Non- Objection”.

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The proposed rule did not include chattel lending as an eligible activity under the manufactured housing market, thereby leaving out seventy percent of the market. FHFA merely requested comment on whether the Enterprises should receive Duty to Serve credit for purchasing chattel loans, either on a pilot or an ongoing basis.

Each Enterprise adopted a three-year Underserved Markets Plan.. to Serve rule and FHFA's Evaluation Guidance, an Enterprise may propose.