Comment Detail

Comment

The Honorable Mel Watt
Attention: Comments on Duty to Serve Underserved Markets Plans
Federal Housing Finance Agency
400 7th Street, SW
Washington DC 20219

Re: Duty to Serve Underserved Markets Plans

Dear Director Watt:

The Housing Assistance Council (HAC) appreciates the opportunity to comment on Fannie Mae’s and Freddie Mac’s Duty to Serve Underserved Markets Plans for Rural Markets. As a strong advocate for the Duty to Serve provisions of the Housing and Economic Recovery Act of 2008, HAC appreciates the time, effort, and resources FHFA, Fannie Mae, and Freddie Mac have undertaken to develop these underserved market plans. The core of HAC’s work for over four decades has been rural and underserved communities. HAC understands the complexities and difficulties of working in these communities. HAC also understands the promise and possibility of Duty to Serve to affect real and measurable change in these long overlooked and largely forgotten communities and people. We appreciate that FHFA and the Enterprises have not forgotten them, and we look forward to assisting you and the Duty to Serve effort generally to achieve its mandate to improve liquidity and access to affordable housing in underserved markets.

Given its organizational focus on rural housing, HAC has focused largely on the Rural Markets component of the plans. HAC will present comments on each Enterprise’s plan separately. After the Enterprise-specific comments, HAC presents general comments and suggestions to the Enterprises and FHFA on issues of rural multifamily housing and preservation. HAC’s full comments are attached.

Please do not hesitate to contact me if you need additional information or clarification of our comments.

Moises Loza

Executive Director
Housing Assistance Council