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INVESTMENT GOVERNMENT PROPERTY PRESERVATION
HUD, FHFA PARTNER
TO ENFORCE FAIR
HOUSING
A groundbreaking partnership between
two government agencies—U.S. Department
of Housing and Urban Development (HUD)
and the Federal Housing Finance Agency
(FHFA)—will address discrimination in
housing and enhance federal enforcement of the
Fair Housing Act.
HUD, historically charged with
administering and enforcing the act,
together with the FHFA, which regulates
Fannie Mae and Freddie Mac, have signed
a Memorandum of Understanding which
HUD says is an important mechanism that
strengthens the agencies' ability to enforce
fair housing and fair lending requirements by
promoting information sharing, coordination
on investigations, compliance reviews, and the
ongoing monitoring of the GSEs. e agencies,
according to a press release from HUD,
anticipate that the memo will lead to stronger
oversight that will help advance vigorous fair
housing enforcement that can begin to redress
our nation's history of discriminatory housing
practices.
"Today's signing is an important and
historic step to advance and strengthen the
enforcement of our nation's fair housing and
fair lending requirements," HUD Secretary
Marcia L. Fudge said. "FHFA oversees
entities that have significant control over a
large share of the mortgage market. Stepping
up our collective fair housing oversight of their
activities will make an enormous impact on
lives and communities. I am proud to partner
with Acting Director ompson on this effort
and advance the work that President Biden
called upon us to do. We are prioritizing the
work required to remove barriers that have
created separate and unequal neighborhoods
and limited access to housing opportunity and
wealth building. I look forward to working
with FHFA to make a meaningful impact in
this space."
FHFA Director Sandra L. ompson
echoes the sentiment, adding that "FHFA does
not tolerate housing discrimination."
She says the memorandum allows FHFA
and HUD to share information and resources
to improve fair lending oversight over the
mortgage finance system.
"I am pleased to work with Secretary
Fudge on the important work of fulfilling the
Fair Housing Act's promise of equal access
to safe, decent, and affordable housing for all
Americans."
e full agreement is available at FHFA.gov.
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