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  • Comment Detail

  • Date: 03/17/16
    First Name: Moises
    Last Name: Loza
    Organization: Housing Assistance Council
    City: N/A
    State: N/A
    Attachment: N/A
    Number: RIN-2590-AA27

  • Comment

    The Housing Assistance Council (HAC) appreciates the opportunity to comment on the Federal Housing Finance Agency’s (FHFA’s) proposed Rule on the Duty to Serve Underserved Markets for Enterprises; Proposed Rule. 12 CFR Part 1282, RIN 2590-AA27. The Housing and Economic Recovery Act of 2008 mandates that Fannie Mae and Freddie Mac have a “Duty to Serve” three traditionally underserved markets of: Rural Housing, Manufactured Housing, and Affordable Housing Preservation. The Enterprises (Fannie Mae and Freddie Mac) are tasked with increasing liquidity and investment capital in these markets.

    Given its organizational focus on rural housing, HAC has prioritized its remarks beginning with Section 3. Rural Markets, followed by Section 2. Housing Preservation, and concluding with Section1. Manufactured Housing.

    The Housing Assistance Council is a national nonprofit organization that supports affordable housing efforts in rural areas of the United States. HAC has been helping local organizations build affordable homes in rural America since 1971. HAC emphasizes local solutions, empowerment of the poor, reduced dependence, and self-help housing strategies. HAC assists in the development of both single- and multi-family homes and promotes homeownership for low-income rural families. HAC previously commented on both the 2009 Advanced Notice of Proposed Rulemaking and the 2010 Proposed Rule on Duty to Serve, and is pleased that FHFA is now preparing the final implementation of Duty to Serve. With 45 years of service to public, nonprofit, and private organizations throughout the rural United States, the Housing Assistance Council is uniquely positioned to provide comments and insights on all three of the underserved areas identified in this Proposed Rule.

    Please view HAC's full comments attached. HAC is pleased to have this opportunity to comment on the Proposed Rule for Duty to Serve Underserved Markets. Please do not hesitate to contact me if you need additional information or clarification of our comments.

    Sincerely,

    Moises Loza
    Executive Director