To enable FHFA's evaluations, each Enterprise submits quarterly and annual reports detailing its actions and progress toward achieving the objectives in its Plan. FHFA makes these quarterly and annual reports public, omitting any confidential and proprietary information. These reports contain the Enterprises’ views on their Duty to Serve activities and do not necessarily reflect FHFA’s views.
For 2018, FHFA has determined that each Enterprise complied with its Duty to Serve requirements in all three underserved markets. In addition, FHFA finds that each Enterprise performed a satisfactory job of increasing the liquidity and distribution of available capital in each of the three underserved markets. Due to the difficulty of measuring and rating impact from this single year, FHFA was not able to determine more granular ratings for 2018.
Highlights of the Enterprises' performance are published in FHFA's 2019 Annual Housing Report to Congress. Data on the Enterprises' 2018 Duty-to-Serve-qualifying loan purchases is available on the Data and Tools page.
| Type | Description | Report |
|---|---|---|
| Manufactured homes titled as real property | ||
| Loan Purchase | Increase the purchase volume of conventional manufactured housing secured by real estate each year of the Plan | View Reports |
| Outreach | Increase liquidity for manufactured housing titled as real property through industry outreach and increasing purchases | View Reports |
| Loan Product | Develop an enhanced manufactured housing loan product for quality manufactured housing and purchase loans | View Reports |
| Manufactured homes titled as personal property (chattel) | ||
| Outreach | Conduct outreach, perform research and promote information sharing that supports the development of a chattel loan pilot and market standardization of the product | View Reports |
| Loan Product | Establish a chattel loan pilot structure and secure approval from FHFA to purchase chattel loans | View Reports |
| Outreach | Explore securitization structures that attract private capital and provide sustainable liquidity to the chattel market | View Reports |
| Manufactured home communities (MHCs) owned by a governmental entity, non-profit organization or residents | ||
| Outreach | Increase liquidity to governmental entity, non-profit organization or resident-owned MHC (collectively “Non-Traditional Owners") through research, data analysis, loan product review and enhancement, implementing a pilot for resident-owned MHC and publishing Fannie Mae's experiences | View Reports |
| Loan Product | Establish pilot program for investments in non-profit organizations, Community Development Finance Institutions (CDFI), small financial institutions or other entities which have a major focus on MHC with Non-Traditional Owners | View Reports |
| Manufactured home communities (MHCs) with certain tenant pad lease protections | ||
| Loan Product | Conduct research and outreach to determine market opportunities for FHFA's proposed minimum tenant pad lease protections (FHFA Pad Requirements), offer one loan product enhancement and acquire loans | View Reports |
| Type | Description | Report |
|---|---|---|
| Purchase or rehabilitation of distressed properties | ||
| Outreach | Increase affordable capital through industry outreach and developing loan financing solutions | View Reports |
| Loan Purchase | Increase the purchase of mortgage loans that finance the purchase or renovation of distressed properties | View Reports |
| Low-income housing tax credit (LIHTC) debt | ||
| Loan purchase | Increase purchases of mortgages secured by LIHTC Properties | View Reports |
| Multifamily energy efficiency improvements | ||
| Outreach | Engage stakeholders and conduct research to increase awareness and understanding of energy or water efficiency improvements and financing needs | View Reports |
| Outreach | Facilitate the establishment and dissemination of energy or water efficiency improvements finance industry standards that will facilitate increased liquidity to the multifamily energy efficiency improvements finance market | View Reports |
| Loan Purchase | Purchase multifamily loans that finance energy or water improvements that meet the FHFA Criteria | View Reports |
| Small multifamily rental properties | ||
| Loan Product | Adopt effective approach to purchase small multifamily loans from financial entities with $10 billion or less in assets and purchase loans | View Reports |
| HUD Rental Assistance Demonstration (RAD) program | ||
| Loan Purchase | Conduct outreach, review potential loan product enhancements and purchase loans secured by RAD properties | View Reports |
| Additional Activity: Residential Economic Diversity | ||
| Loan Product | Establish a RED initiative to increase loan purchases relating to the Statutory Activity for the provision of debt for LIHTC under Section 42 of the Internal Revenue Code | View Reports |
| Loan Product | Establish a RED initiative to increase loan purchases relating to the Statutory Activity for Other Comparable State or Local Affordable Housing Programs | View Reports |
| Loan Product | Establish an initiative to make investments that promote RED in conjunction with Fannie Mae's Additional Activity for Workforce Equity Investments | View Reports |
| Section 202 | ||
| Loan Product | Consider loan product changes, prepare work-plan and purchase loans | View Reports |
| Section 515 | ||
| Loan Product | Work with USDA and other stakeholders to adopt approach resulting in increased liquidity for preservation of Section 515 properties and purchase Section 515 loans | View Reports |
| Section 8 | ||
| Loan purchase | Purchase loans secured by properties served by the Section 8 program | View Reports |
| Single-family energy efficiency improvements | ||
| Outreach | Increase liquidity for energy or water efficiency improvements through outreach, research and developing solutions | View Reports |
| Loan Product | Increase liquidity for Improvements that meet the FHFA Criteria by facilitating the adoption of enhanced industry standards and purchasing loans | View Reports |
| Shared equity (Affordable homeownership preservation) | ||
| Loan Product | Increase the purchase of mortgage loans that finance shared equity programs | View Reports |
| Outreach | Increase liquidity for shared equity homeownership through outreach, research, and enhancing loan product solutions | View Reports |
| Comparable state or local affordable housing programs | ||
| Loan Product | Expand Fannie Mae's multifamily affordable housing (MAH) definition to support other comparable State or local programs to preserve affordable housing and purchase loans | View Reports |
| Additional activity: Workforce equity | ||
| Loan Product | Establish a program to provide investment capital to non-LIHTC properties to preserve multifamily rental properties affordable to workforce families | View Reports |
| Type | Description | Report |
|---|---|---|
| Housing for high-needs rural populations | ||
| Loan Product | Rebrand and market Fannie Mae's Native American Conventional Lending Initiative (NACLI) and purchase loans | View Reports |
| Outreach | Design an investment pilot program, partnering with a Native American (CDFI) or other mission driven lenders, to increase access to credit, capital or financial counseling | View Reports |
| Outreach | Create and implement work-plans and purchase loans secured by multifamily housing for Native Americans and agricultural workers | View Reports |
| Housing in high-needs rural regions | ||
| Loan Purchase | Fannie Mae will increase single-family loan purchases in high-needs rural regions | View Reports |
| Loan Product | Increase affordable capital through industry outreach and developing solutions to increase loan purchases | View Reports |
| Outreach | Create a work-plan and increase multifamily loan purchases in Middle Appalachia, the Lower Mississippi Delta and the colonias | View Reports |
| Additional activity: Rural LIHTC equity investments | ||
| Investment | Invest in LIHTC properties including housing associated with other Statutory and Regulatory Activities | View Reports |
| Rural small financial institutions | ||
| Loan Purchase | Through outreach and developing solutions, Fannie Mae will increase loan purchases of single family loans in rural areas from small financial institutions | View Reports |
| Loan Product | Purchase single-family rural loans through bulk transactions from small financial institutions | View Reports |
| Outreach | Gain an understanding of the challenges and opportunities for small financial institutions in rural areas through outreach | View Reports |
| Rural small multifamily properties | ||
| Loan Product | Identify market opportunities to purchase small multifamily loans in rural areas | View Reports |
| Type | Description | Report |
|---|---|---|
| Manufactured homes titled as real property | ||
| Loan Purchase | Increase single-family loan purchases of manufactured housing titled as real property | View Reports |
| Loan Product | Design new product flexibilities to facilitate the origination of mortgages securing manufactured housing titled as real property | View Reports |
| Outreach | Increase homebuyer access to education and resources | View Reports |
| Manufactured homes titled as personal property (chattel) | ||
| Loan Product | Conduct outreach and research on the chattel market | View Reports |
| Loan Product | Develop initiative guidelines for chattel pilot and initiate chattel pilot | View Reports |
| Manufactured home communities (MHCs) owned by a governmental entity, non-profit organization or residents | ||
| Outreach | Promote understanding of the Resident-Owned Communities market | View Reports |
| Loan Product | Develop a new offering for Resident-Owned Communities | View Reports |
| Manufactured home communities (MHCs) with certain tenant pad lease protections | ||
| Outreach | Conduct tenant protection survey | View Reports |
| Type | Description | Report |
|---|---|---|
| Low-income housing tax credit (LIHTC) debt | ||
| Loan Purchase | Provide liquidity and stability through LIHTC loan purchases | View Reports |
| Loan Product | Develop a new mezzanine financing offering to close capital gaps for LIHTC preservation transactions | View Reports |
| Multifamily energy efficiency improvements | ||
| Outreach | Publish an annual study of energy and water efficiency through the Green Advantage program | View Reports |
| Small multifamily rental properties | ||
| Loan Product | Develop a new offering for Small Balance Loan pool securitization | View Reports |
| Loan Product | Develop a new offering for Small Balance Loan Pool credit enhancement | View Reports |
| Loan Purchase | Purchase/Guaranty seasoned Small Balance Loans from Small Financial Institutions | View Reports |
| HUD Rental Assistance Demonstration (RAD) program | ||
| Loan Purchase | Provide liquidity and stability through RAD loan purchases | View Reports |
| Additional Activity: Residential Economic Diversity | ||
| Loan Purchase | Purchase loans on properties that support Residential Economic Diversity | View Reports |
| Loan Product | Create a mapping tool to enable deeper understanding of the various aspects of RED | View Reports |
| Outreach | Conduct and publish three research projects on housing in High Opportunity Areas | View Reports |
| Outreach | Conduct and publish three research projects on housing in Areas of Concentrated Poverty (QCTs and R/ECAPS) | View Reports |
| Outreach | Conduct and publish three research projects on states that prioritize, or could prioritize, RED in QAPs | View Reports |
| Section 515 | ||
| Loan Product | Develop a new offering to preserve properties with USDA Section 515 debt | View Reports |
| Section 8 | ||
| Loan Purchase | Provide liquidity and stability through Section 8 loan purchases | View Reports |
| Loan Product | Develop a new offering with a more efficient origination path for Section 8 preservation | View Reports |
| Single-family energy efficiency improvements | ||
| Loan Product | Research the relationship of energy efficient homes to property values and mortgage performance | View Reports |
| Loan Product | Develop valuation guidelines and data collection requirements | View Reports |
| Loan Product | Facilitate financing of energy efficiency improvements and energy efficient homes | View Reports |
| Shared equity (Affordable homeownership preservation) | ||
| Loan Product | Develop product flexibilities and guidelines that facilitate new mortgage originations under shared equity programs | View Reports |
| Loan Product | Inform loan product design through loan purchases | View Reports |
| Loan Product | Support standardization of data collection at the transaction level | View Reports |
| Outreach | Promote market awareness of shared equity programs | View Reports |
| Type | Description | Report |
|---|---|---|
| Housing for high-needs rural populations | ||
| Outreach | Increase homebuyer access to education and resources for members of a federally recognized Indian tribe in Indian areas | View Reports |
| Outreach | Increase technical expertise in Indian areas | View Reports |
| Outreach | Research on tribal lands in association with LIHTC and other federal programs | View Reports |
| Loan Product | Develop LIHTC equity investment offering | View Reports |
| Housing in high-needs rural regions | ||
| Loan Purchase | Increase single-family loan purchases in high-needs rural regions | View Reports |
| Loan Product | Design new product flexibilities to facilitate the origination of mortgages in high-needs rural regions | View Reports |
| Loan Product | Design improved product flexibilities to facilitate the origination of renovation mortgages | View Reports |
| Outreach | Increase future homebuyer access to education and resources | View Reports |
| Loan Product | Develop rural mapping tool | View Reports |
| Outreach | Research the use of and opportunity for LIHTC in support of Middle Appalachia | View Reports |
| Investment | Engage in LIHTC equity investment | View Reports |
| Additional activity: Rural LIHTC equity investments | ||
| Investment | Engage in LIHTC equity investment in all rural areas | View Reports |
| Additional activity: Rural single-family rental (SFR) | ||
| Outreach | Research rural SFR market characteristics and opportunities | View Reports |
| Loan Product | Offering for SFR transactions containing homes in rural areas | View Reports |
| Rural small financial institutions | ||
| Loan Purchase | Increase loan purchases from small financial institutions serving rural regions | View Reports |
| Rural small multifamily properties | ||
| Loan Product | Develop a new offering to preserve properties with USDA Section 515 debt | View Reports |
See past Quarterly and Annual Reports