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Comments on Freddie Mac's Draft Duty to Serve Plan Due by July 10

June 22, 2017

Freddie Mac’s draft Duty to Serve Underserved Markets plan was published by the Federal Housing Finance Agency (FHFA) on May 8, 2017 – and your feedback is strongly encouraged.

Send your comments to FHFA no later than Monday, July 10, 2017.

 

Overview of Freddie Mac's Draft Duty to Serve Plan

Freddie Mac's draft Duty to Serve plan outlines a comprehensive proposal to increase access to credit for more homebuyers and fund affordable rental housing across the nation with a focus on three historically underserved markets: manufactured housing; rural housing and affordable housing preservation.  The draft plan builds upon our current work to meet our affordable housing goals and support our community mission and includes activities by both our Single-Family and Multifamily businesses. Our Single-Family activities are focused on:

  • Manufactured housing -- manufactured housing titled as real property and as personal property (which is also called chattel).
  • Rural housing -- high-needs rural regions and high-needs rural populations, and support for financing by small financial institutions of rural housing.
  • Affordable housing preservation – support for financing of energy efficiency improvements, and support for financing of single-family properties purchased under eligible shared equity programs.

To meet our objectives, our multi-pronged plan includes increased loan purchases, community and borrower outreach activities, homebuyer education, industry technical expertise, new offerings and market research.

Collaboration with industry experts and lenders -- especially those that do business in these historically underserved markets – will be critical to the success of our proposal. Share your ideas with FHFA no later than July 10!

Together, we can lead the way in addressing the housing needs of families and communities in sustainable ways that will benefit our country for generations to come.

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