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Enterprise Duty to Serve Underserved Markets Proposed Rule

Publication Details
Type
Proposed Rulemaking
Document Number
2015-31811
Federal Register Publish Date
12/18/2015
Federal Register Citation
80 FR 79181
PDF Format
Comment Open Date
12/18/2015
Comment End Date
03/17/2016
Comment Status
Closed
Rulemaking Details
Rulemaking

Enterprise Duty to Serve Underserved Markets Proposed Rule

Contact Information

​FOR FURTHER INFORMATION CONTACT: Jim Gray, Manager, Office of Housing and Regulatory Policy, (202) 649-3124, or Mike Price, Senior Policy Analyst, Office of Housing and Regulatory Policy, (202) 649-3134. These are not toll-free numbers. The mailing address for each contact is: Federal Housing Finance Agency, 400 7th Street, SW., Washington, DC 20219. If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.​

Summary

PLEASE NOTE: Comments submitted will not be immediately viewable. To confirm your comment was received, contact FHFAWebMaster@fhfa.gov or call (202)649-3031.

SUMMARY: The Housing and Economic Recovery Act of 2008 (HERA) amended the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (Safety and Soundness Act) to establish a duty for the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, the Enterprises) to serve three specified underserved markets—manufactured housing, affordable housing preservation, and rural markets—to increase the liquidity of mortgage investments and improve the distribution of investment capital available for mortgage financing for very low-, low-, and moderate-income families in those markets. The Federal Housing Finance Agency (FHFA) is issuing and seeking comments on a proposed rule that would provide Duty to Serve credit for eligible Enterprise activities that facilitate a secondary market for mortgages related to: manufactured homes titled as real property; blanket loans for certain categories of manufactured housing communities; preserving the affordability of housing for renters and homebuyers; and housing in rural markets. The proposed rule would establish a method for evaluating and rating the Enterprises’ compliance with the Duty to Serve each underserved market.

The Proposed Rule was released to the public via agency website on December 15, 2015.

Public Comments people-icon

Below are a compilation of public comments made on this publication.

216 items
CSV
Date First Name Last Name Organization Comment
Tony Romano Right To The City See attached commentView Comment Email: N/A
Attachment: N/A
Jack Markowski Community Investment Corporation Please see attached comments.View Comment Email: N/A
Attachment: N/A
Jenny Hsu National Association of Housing and Redevelopment Officials (NAHRO) On behalf of the National Association of Housing and Redevelopment Off…View Comment
Email: jhsu@nahro.org
Attachment: N/A
Scott Johnstone VEIC Please see attached.View Comment Email: msprayregen@veic.org
Attachment: N/A
Tom Salomone Trade Group - National Association of Realtors (NAR) Comments Attached.View Comment Email: cdawson@realtors.org
Attachment: N/A
California Reinvestment Coalition (CRC) See attached commentView Comment Email: N/A
Attachment: N/A
Dana Boole Community Affordable Housing Equity Corporation (CAHEC) See attached commentView Comment Email: N/A
Attachment: N/A
L.A. 'Tony' Kovach N/A See attached commentView Comment Email: N/A
Attachment: N/A
The Council of Large Public Housing Authorities (CLPHA), Reno & Cavanaugh, PLLC and the RAD Collaborative See attached commentView Comment Email: N/A
Attachment: N/A
Rob Prasch Network for Oregon Affordable Housing Please see attached commentsView Comment Email: robp@noah-housing.org
Attachment: N/A
Kathy Brown Boston Tenant Coalition see attached letterView Comment Email: kathy@bostontenant.org
Attachment: N/A
Jessica Deegan Minnesota Housing Finance Agency See attached commentView Comment Email: N/A
Attachment: N/A
David Reiss Brooklyn Law School See attached commentView Comment Email: N/A
Attachment: N/A
Joseph Pigg American Bankers Association (ABA) See attached commentView Comment Email: N/A
Attachment: N/A
Bill Druliner GreenPath, Inc March 17, 2016 Mr. Alfred M. Pollard General Counsel Federal Housing F…View Comment
Email: community@greenpath.com
Attachment: N/A
Blair Sebastian NYS Rural Advocates P.O. Box 104, Blue Mountain Lake, New York 12812 – Ruraladvocates@gmai…View Comment
Email: blairsebastian@gmail.com
Attachment: N/A
Bennie Thompson Member of Congress Federally-regulated manufactured housing is the nation’s most affordab…View Comment
Email: N/A
Attachment: N/A
Martha Campbell Rocky Mountain Institute Comments from a coalition of organizations associated with Rocky Mount…View Comment
Email: mcampbell@rmi.org
Attachment: N/A
Stacey Epperson Next Step Network, Inc. March 17, 2016 Alfred M. Pollard, General Counsel Attention: Comments/…View Comment
Email: s.epperson@nextstepus.org
Attachment: N/A
Sebastian Corradino Riverside Capital, LLC Please see attachmentView Comment Email: scorradino@riverside.capital
Attachment: N/A
Consortium for Citizens with Disabilities (CCD) Housing Task Force See attached commentView Comment Email: N/A
Attachment: N/A
Mark Pinsky Opportunity Finance Network Please see attached.View Comment Email: dwilliams@ofn.org
Attachment: N/A
Phillip Bracken America's Homeowner Alliance Please see the attached comments on behalf of America's Homeowner Alli…View Comment
Email: kara.ward@klgates.com
Attachment: N/A
Peter Hainley CASA of Oregon See attached commentsView Comment Email: phainley@casaoforegon.org
Attachment: N/A
National Housing Resource Center (NHRC) See attached commentView Comment Email: N/A
Attachment: N/A