FHFA Announces Equitable Housing Finance Plans for Fannie Mae, Freddie Mac
The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will submit Equitable Housing Finance Plans to FHFA by the end of 2021.
The Enterprises will update these plans annually and they will identify and address barriers to sustainable housing opportunities, including the Enterprises’ goals and action plans to advance equity in housing finance for the next three years.
FHFA also will require the Enterprises to submit annual progress reports on the actions undertaken during the prior year to implement their plans.
Under the recently signed Memorandum of Understanding between FHFA and HUD regarding fair housing and fair lending coordination, HUD provided insight and expertise to FHFA regarding this equitable housing finance initiative.
FHFA is issuing a Request for Input that seeks public comment until Oct. 25, to aid the Enterprises in preparing their first plans and to aid FHFA in overseeing the plans.
FHFA will also host a public listening session on Sept. 28 to allow for additional public input.