Under ordinary circumstances, Fannie Mae and Freddie Mac would have submitted their next proposed Underserved Markets Plans to FHFA in June 2020, covering 2021-2023. However, due to the market disruption and uncertainty caused by the COVID-19 pandemic, FHFA has made two significant changes.
- First, the Enterprises will be permitted an unlimited number of innovation modifications for the 2020 Plan year.
- Second, 2021 activities and objectives will be structured as a one-year extension of the 2018-2020 Plans.
FHFA has instructed the Enterprises to submit both 2020 modification requests and proposed 2021 activities and objectives by September 15, 2020.
Next Steps
- Each Enterprise will submit its proposed 2021 activities and objectives to FHFA by September 15, 2020.
- Each Enterprise will also submit any requests to modify 2020 objectives to FHFA by September 15, 2020.
- FHFA will request stakeholder input on proposed 2021 activities and objectives and select proposed 2020 modifications during a consolidated public comment period beginning in mid-September.
- Interested parties will also be invited to provide input during virtual listening sessions, which will be held in October 2020.
- FHFA expects the next three-year Plans will be due in May 2021, covering 2022-2024.
Please email DutyToServeStakeholders@fhfa.gov to be added to our email list and receive notification of public comment periods and virtual listening sessions.
Summary table indicating Evaluation Guidance provisions that apply in 2021
![Evaluation Guidance 2020-4a](/sites/default/files/2023-11/Evaluation%20Guidance%202020-4a.png)
Revised Evaluation Guidance 2020-4a, which includes special exceptions that will apply in 2020 and 2021
![Special Procedures](/sites/default/files/2023-11/Special-Procedures.png)
Special procedures the Enterprises will follow to submit their 2020 modifications and 2021 Plans