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News Release
FHFA Announces Final Rule Amending the Enterprise Duty to Serve Underserved Markets Regulation

Enterprise activities in all colonia census tracts are eligible for Duty to Serve credit
 for immediate release
04/12/2023

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today published a final rule to amend the Enterprise Duty to Serve Underserved Markets regulation. The final rule allows Fannie Mae and Freddie Mac’s (together, the Enterprises) activities in all colonia census tracts to be eligible for Duty to Serve credit.

“The implementation of this rule strengthens our commitment to promoting affordable, equitable, and sustainable housing in underserved and rural communities,” said FHFA Director Sandra L. Thompson. “FHFA will continue to ensure that Enterprise Duty to Serve activities meet the needs of people living in colonias.”

The final rule:

  • Adds a new definition for “colonia census tract” to mean a census tract containing a colonia, which will serve as a census tract-based proxy for a colonia;
  • Amends the definition of “high-needs rural region” by substituting “colonia census tract” for “colonia;” and
  • ​Amends the definition of “rural area” to include all colonia census tracts, regardless of their location.

​FHFA published a notice of proposed rulemaking in September 2022 with a 60-day public comment period. The final rule will go into effect on July 1, 2023.

Link to Final Rule

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​The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $8.3 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube, Facebook, and LinkedIn.

Contacts:

​​Adam Russell  Adam.Russell@FHFA.gov​