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.
In 2019, FHFA conducted virtual meetings with Fannie Mae and Freddie Mac to supplement the information provided by the Enterprises in their annual reports.
- Click here to download a summary of the meetings with Fannie Mae.
- Click here to download a summary of the meetings with Freddie Mac.
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. In 2019, FHFA issued revised Evaluation Guidance that includes changes to the evaluation process and rating scale for Enterprise performance. These changes were based on experience in the initial years of the program. FHFA intends to release more granular ratings when the recalibrated rating scale goes into effect.
Highlights of the Enterprises' 2019 performance are published in FHFA's 2020 Annual Housing Report to Congress. Data on the Enterprises' 2019 Duty to Serve-qualifying loan purchases is available on the Data and Tools section of the Duty to Serve 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 |
| 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 Purchase | Establish a chattel loan pilot structure and secure approval from FHFA to purchase chattel loans | View Reports |
| Loan Product | Establish a chattel loan pilot structure and secure approval from FHFA to purchase chattel loans | View Reports |
| Manufactured home communities (MHCs) owned by a governmental entity, non-profit organization or residents | ||
| Loan Product | 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 |
| Manufactured home communities (MHCs) with certain tenant pad lease protections | ||
| Loan Purchase | 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 | ||
| Loan Purchase | Increase the purchase of mortgage loans that finance the purchase or rehabilitation of certain distressed properties | View Reports |
| Loan Product | Increase affordable capital through industry outreach and developing loan financing solutions | 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 | ||
| Loan Product | 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 Purchase | 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 Product | Conduct outreach, review potential loan product enhancements and purchase loans secured by RAD properties | View Reports |
| Additional Activity: Residential Economic Diversity | ||
| Loan Purchase | 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 |
| Outreach | Outreach and Stakeholder Engagement on the importance of Residential Economic Diversity in community-level, household and individual outcomes | View Reports |
| Loan Product | Develop and approve product enhancements designed to improve affordable housing preservation and development in High Opportunity Areas | View Reports |
| Section 202 | ||
| Loan Purchase | Consider loan product changes, prepare work-plan and purchase Section 202 loans | View Reports |
| Section 515 | ||
| Loan Purchase | 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 |
| Outreach | Work with USDA and other stakeholders to adopt approach resulting in increased 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 | ||
| Loan Product | Increase liquidity for energy or water efficiency improvements through outreach, research and developing solutions | View Reports |
| Shared equity (Affordable homeownership preservation) | ||
| Loan Purchase | Increase the purchase of mortgage loans that finance shared equity programs | View Reports |
| Loan Product | Increase the purchase of mortgage loans that finance shared equity programs | View Reports |
| Comparable state or local affordable housing programs | ||
| Loan Purchase | 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 |
| Type | Description | Report |
|---|---|---|
| Housing for high-needs rural populations | ||
| Loan Product | Purchase single-family NACLI and/or HUD Section 184 loans and produce loan products via supply variance and appraisals | View Reports |
| Outreach | Rebrand and market Fannie Mae's Native American Conventional Lending Initiative (NACLI) | 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 | Develop solutions to increase single-family loan purchases in high-needs rural regions | View Reports |
| Outreach | Increase affordable capital through industry outreach in high-needs rural regions | 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 | Fannie Mae will increase loan purchases of single family loans in rural areas 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 Purchase | 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) | ||
| Outreach | Conduct market outreach to support chattel pilot and increased access to homebuyer education | View Reports |
| Loan Product | Develop initiative guidelines for chattel pilot and initiate chattel purchases | View Reports |
| Loan Purchase | Develop initiative guidelines for chattel pilot and initiate chattel purchases | 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 | ||
| Loan Product | Develop pilot offering for borrowers that institute Duty to Serve tenant protections | 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) | ||
| Outreach | Conduct market outreach to support chattel pilot and increased access to homebuyer education | View Reports |
| Loan Product | Develop initiative guidelines for chattel pilot and initiate chattel purchases | View Reports |
| Loan Purchase | Develop initiative guidelines for chattel pilot and initiate chattel purchases | 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 | ||
| Loan Product | Develop pilot offering for borrowers that institute Duty to Serve tenant protections | View Reports |
| Type | Description | Report |
|---|---|---|
| Low-income housing tax credit (LIHTC) debt | ||
| Loan Purchase | Provide liquidity and stability through LIHTC loan purchases | 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 participation securitization | 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 |
| Outreach | Conduct and publish three research projects on housing in Areas of Concentrated Poverty (QCTs and R/ECAPS) | View Reports |
| Section 8 | ||
| Loan Purchase | Provide liquidity and stability through Section 8 loan purchases | View Reports |
| Single-family energy efficiency improvements | ||
| Loan Product | Research the relationship of energy efficient homes to property values and mortgage performance | 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 |
| Outreach | Promote market awareness of shared equity programs | View Reports |
| Type | Description | Report |
|---|---|---|
| Low-income housing tax credit (LIHTC) debt | ||
| Loan Purchase | Provide liquidity and stability through LIHTC loan purchases | 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 participation securitization | 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 |
| Outreach | Conduct and publish three research projects on housing in Areas of Concentrated Poverty (QCTs and R/ECAPS) | View Reports |
| Section 8 | ||
| Loan Purchase | Provide liquidity and stability through Section 8 loan purchases | View Reports |
| Single-family energy efficiency improvements | ||
| Loan Product | Research the relationship of energy efficient homes to property values and mortgage performance | 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 |
| 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 |
| Investment | Engage in LIHTC equity investment | 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 |
| Outreach | Increase future homebuyer access to education and resources | 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 |
| Rural small financial institutions | ||
| Loan Purchase | Increase loan purchases from small financial institutions serving rural regions | View Reports |
| Rural small multifamily properties | ||
| Loan Product | Research and develop a new offering to support the USDA Section 538 Program | View Reports |
See past Quarterly and Annual Reports