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Exception to Restrictions on Private Transfer Fee Covenants for Loans Meeting Certain Duty To Serve Shared Equity Loan Program Requirements Proposed Rule

Publication Details
Type
Proposed Rulemaking
Document Number
2023-20818
Federal Register Publish Date
09/26/2023
Federal Register Citation
88 FR 65827
PDF Format
Comment Open Date
09/26/2023
Comment End Date
11/27/2023
Comment Status
Closed
Rulemaking Details
Rulemaking

Exception to Restrictions on Private Transfer Fee Covenants for Loans Meeting Certain Duty To Serve Shared Equity Loan Program Requirements Proposed Rule

Contact Information

​FOR FURTHER INFORMATION CONTACT: Ted Wartell, Associate Director, Office of Housing and Community Investment (OHCI), 202-649-3157, ted.wartell@fhfa.gov; or Sara L. Todd, Assistant General Counsel, Office of General Counsel (OGC), 202-649-3527, sara.todd@fhfa.gov; Federal Housing Finance Agency, 400 Seventh Street SW, Washington, DC 20219. These are not toll-free numbers. The mailing address for each contact is: Federal Housing Finance Agency, Fourth Floor, 400 Seventh Street SW, Washington, DC 20219. For TTY/TRS users with disabilities, dial 711 and ask to be connected to any of the contact numbers above.

Summary

SUMMARY: The Federal Housing Finance Agency (FHFA) is proposing to amend its regulation that restricts its regulated entities--the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, the Enterprises), and the Federal Home Loan Banks(Banks)--from purchasing, investing in, accepting as collateral, or otherwise dealing in mortgages on properties encumbered by certain types of private transfer fee covenants (PTFCs), and in related securities, subject to certain exceptions (PTFC Regulation). The proposed rule would establish an additional exception to the restrictions for loans on properties with PTFCs, and related securities, if the loans meet certain shared equity loan program requirements for Resale Restriction Programs in FHFA's Duty to Serve Underserved Markets Regulation (Duty to Serve Regulation).

DATES: Written comments on the proposed rule must be received on or before November 27, 2023.

Public Comments people-icon

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

8 items
CSV
Date First Name Last Name Organization Comment
Jason Boseck Vested Communities Operating, LLC See attached.View Comment Email: N/A
Attachment: View Attachment
Vinoli Goonetilleke Freddie Mac Attached are Freddie Mac's comment on the Exception to Restrictions on…View Comment
Email: N/A
Attachment: View Attachment
Rebecca Froass National Association of Home Builders Please find NAHB's comment letter attached. We appreciate the opportun…View Comment
Email: rfroass@nahb.org
Attachment: View Attachment
John Burley Fannie Mae Please see attached letter.View Comment Email: N/A
Attachment: View Attachment
Brian Stromberg Grounded Solutions Network Please attached letter for our comments.View Comment Email: N/A
Attachment: View Attachment
Tamar Greenspan NeighborWorks America Please see attached.View Comment Email: tgreenspan@nw.org
Attachment: View Attachment
FHFA FHFA Meeting Summary - Fannie Mae See attached meeting summary.View Comment Email: N/A
Attachment: View Attachment
Greg Wolf N/A This sounds like a terrible idea. Why would the government want to get…View Comment
Email: N/A
Attachment: N/A