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Enterprise Duty to Serve Underserved Markets

Publication Details
Type
Proposed Rulemaking
Document Number
2010-13411
Federal Register Publish Date
06/07/2010
Comment Open Date
06/07/2010
Comment End Date
07/22/2010
Comment Status
Closed
Rulemaking Details
Rulemaking

Enterprise Duty to Serve Underserved Markets

Contact Information

FOR FURTHER INFORMATION CONTACT: Nelson Hernandez, Senior Associate Director, Office of Housing and Community Investment, (202) 408-2993, Brian Doherty, Manager, Office of Housing and Community Investment, (202) 408-2991, or Mike Price, Senior Policy Analyst, Office of Housing and Community Investment, (202) 408-2941. For legal questions, contact: Lyn Abrams, Attorney, (202) 414-8951, Kevin Sheehan, Attorney, (202) 414-8952, or Sharon Like, Associate General Counsel, (202) 414-8950. These are not toll-free numbers. The mailing address for each contact is: Office of General Counsel, Federal Housing Finance Agency, Fourth Floor, 1700 G Street, NW., Washington, DC 20552. 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 Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.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

SUMMARY: Section 1129 of the Housing and Economic Recovery Act of 2008 (HERA) amended section 1335 of 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—in order 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 establish a method for evaluating and rating the Enterprises’ performance in each underserved market for 2010 and each subsequent year. In addition, the proposed rule would set forth Enterprise transactions and activities that would be considered for the duty to serve.

The proposed rule would, among other things: Consider only manufactured homes titled as real property for purposes of the duty to serve the manufactured housing market; give the Enterprises latitude to concentrate on assisting particular affordable housing preservation programs that would benefit very low-, low- and moderate-income families; and define rural areas generally in accordance with the definition set forth in the Housing Act of 1949.

DATES: Written comments must be received on or before July 22, 2010.​
 

Public Comments people-icon

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

477 items
Date Sort ascending First Name Last Name Organization Comment
Marjorie Zachwieja Resident of a MH-LLC View CommentView Comment Email: N/A
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Anonymous Commenters N/A View CommentView Comment Email: N/A
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Ronald Mustari Resident of a MH-LLC View CommentView Comment Email: N/A
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Thomas Hreha N/A View CommentView Comment Email: N/A
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Darrel Swain N/A View CommentView Comment Email: N/A
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Jeri McLees N/A View CommentView Comment Email: N/A
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Phyllis A. Knight Champion Home Builders Inc. View CommentView Comment Email: N/A
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Barreet Rurus VantageScore Solutions LLC View CommentView Comment Email: N/A
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Michael Steininger N/A View CommentView Comment Email: N/A
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Kenneth F. Anderson Arizona Housing Association View CommentView Comment Email: N/A
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Kristen Zehner WIMHOA Inc. View CommentView Comment Email: N/A
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Peter Ferris Oregon Manufactured Homeowners United (OMHU) View CommentView Comment Email: N/A
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Joe Kelly Iowa Manufactured Housing Association View CommentView Comment Email: N/A
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Tony Kovach Manufactured Home Marketing Sales Management View CommentView Comment Email: N/A
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Tim Williams Ohio Manufactured Housing Association (OMHA) View CommentView Comment Email: N/A
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Anonymous Commenter N/A View CommentView Comment Email: N/A
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Chris Downard Distinctive Mobile Homes by the Sea View CommentView Comment Email: N/A
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Donna M. Blaze Affordable Housing Alliance View CommentView Comment Email: N/A
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Danny D. Ghorbani Manufactured Housing Association for Regulatory Reform View CommentView Comment Email: N/A
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Anonymous Commenter N/A View CommentView Comment Email: N/A
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Steve Anderson Utah Manufactured Homeowners Action Group View CommentView Comment Email: N/A
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J.P. Sexton Liberty Bank of Arkansas View CommentView Comment Email: N/A
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Brant C. Smith Berkadia Commercial Mortgage, LLC View CommentView Comment Email: N/A
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Matt Greer N/A View CommentView Comment Email: N/A
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Kelly Lynch N/A View CommentView Comment Email: N/A
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