DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1379177
87 87 INVESTMENT GOVERNMENT PROPERTY PRESERVATION FHFA PUBLISHES GSE GOALS FOR MARKET IMPROVEMENTS e Federal Housing Finance Agency (FHFA) has published its proposed 2022- 2024 Underserved Markets Plans, submitted by Fannie Mae and Freddie Mac under the Duty to Serve (DTS) program. e proposed Plans cover the period from January 1, 2022-December 31, 2024. e Housing and Economic Recovery Act of 2008 amended the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish a duty for the government- sponsored enterprises (GSEs) to serve three specified underserved markets—manufactured housing, affordable housing preservation, and rural housing—by advancing the liquidity of mortgage investments, and improving the distribution of investment capital available to facilitate a secondary market for residential financing for very low-, low-, and moderate- income families in those underserved markets. e DTS regulation, which implements the statutory provisions, requires the GSEs to prepare Plans detailing the specific objectives and activities they plan to implement to fulfill the DTS mandate. is request seeks public input on activities and objectives proposed by the GSEs to be implemented under their 2022-2024 Plans. e DTS regulation requires FHFA to post proposed Plans on its website as soon as practical after submission to FHFA for review, with public input pursuant to the timeframe and procedures established by FHFA. FHFA will accept public input on the proposed Plans during a 60-day public input period beginning May 18. e public can review the request for input and submit comments through links on the DTS webpage. FHFA also plans to hold three listening sessions to review the proposed Plans on July 12, 13, and 14. e three virtual Listening Sessions will each focus on a different underserved market: » Session 1 will focus on Rural Housing: July 12, 2021 » Session 2 will focus on Affordable Housing Preservation: July 13, 2021 » Session 3 will focus on Manufactured Housing: July 14, 2021 Each session will begin at 1:00 p.m. EDT and conclude by 4:00 p.m. EDT e activities outlined by the GSEs to achieve proposed Plan objectives will remain subject to FHFA review and approval to ensure compliance with the GSEs' Charter Acts, safety and soundness measures, and other conservatorship and regulatory requirements. Journal