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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 Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.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
Tammy Owen Fonks Home Center Inc. View CommentView Comment Email: N/A
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Michael P. Bradley Pennsylvania Manufactured Housing Association View CommentView Comment Email: N/A
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Senator Jon Kyl N/A View CommentView Comment Email: N/A
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Greg O'Berry Hometown America View CommentView Comment Email: N/A
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Steve Hoke Evergreen Communities LLC View CommentView Comment Email: N/A
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Frederic Zinn Drew Industries Inc. View CommentView Comment Email: N/A
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David Tompos NTA Inc. View CommentView Comment Email: N/A
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Michael Dunston Clayton Homes of Halls Tennessee View CommentView Comment Email: N/A
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Daniel R. Rolfes Holiday Homes Inc. View CommentView Comment Email: N/A
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R.E. Crawford Dick Moore Inc. View CommentView Comment Email: N/A
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J. Layne Womble Champion Home Builders Inc. View CommentView Comment Email: N/A
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Daniel L. Moore Moorpark Mobile Homes Lawrence Moore; Chere Moore; Eric Flores; Ruth Pedroze-Moore; James Mo…View Comment
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Richard H. Grossman Valley Oaks Park View CommentView Comment Email: N/A
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Anonymous Commenter Resident of a MH-LLC View CommentView Comment Email: N/A
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Roseanne Johnson N/A View CommentView Comment Email: N/A
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Anonymous Commenter N/A View CommentView Comment Email: N/A
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Billie Pace N/A View CommentView Comment Email: N/A
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Marilyn Loppnow N/A Duane Loppnow View CommentView Comment Email: N/A
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Thomas Hreha N/A View CommentView Comment Email: N/A
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Barb Ryan Harbor Lights Mobile Home Park Resident View CommentView Comment Email: N/A
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Timber Heights Residents View CommentView Comment Email: N/A
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John Taylor National Community Reinvestment Coalition (NCRC) View CommentView Comment Email: N/A
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Jesse James HarborView Mobile Manor View CommentView Comment Email: N/A
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James Buchanan Southeastern Ohio Legal Services Linda Cook, Ohio Property Law Center; Joseph Maskovyak, Ohioh Property…View Comment
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David Lentz American Land Lease Inc. View CommentView Comment Email: N/A
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