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74 74 INVESTMENT GOVERNMENT PROPERTY PRESERVATION Journal FHFA ISSUES EQUITABLE HOUSING FINANCE PLANS FOR THE GSEs e Federal Housing Finance Agency (FHFA) has released Fannie Mae's and Freddie Mac's (the GSEs) Equitable Housing Finance Plans for 2022-2024. ese plans were designed to complement the initiatives outlined in FHFA's Strategic Plan: Fiscal Years 2022–2026 that promotes the GSEs' safety and soundness and fosters housing finance markets that provide equitable access to affordable and sustainable housing. "e Equitable Housing Finance Plans represent a commitment to sustainable approaches that will meaningfully address the racial and ethnic disparities in homeownership and wealth that have persisted for generations," FHFA Acting Director Sandra L. ompson said. "We look forward to working with the Enterprises, lenders, and other housing industry participants to further develop the ideas described in these plans." e FHFA Strategic Plan was drafted as a "transparent roadmap" to guide the agency in its role as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac. e Strategic Plan names three major objectives that aim to guide the agency in its business: to secure the regulated entities' safety and soundness; foster housing finance markets that promote equitable access to affordable and sustainable housing; and to responsibly steward the FHFA's infrastructure. e 2022-2024 Plan activities, which will be updated annually, addresses barriers experienced by renters, prospective homeowners, and current homeowners, including: » Consumer education initiatives for renters and homeowners; » Credit reporting to help tenants build credit profiles and enable better access to financial services; » Expanding counseling services to support housing stability; » Deploying technology to improve access to sustainable credit and fair home appraisals; and » Special Purpose Credit Programs to address barriers to sustainable homeownership. "Freddie Mac's Equitable Housing Finance Plan lays out meaningful actions designed to help make home possible and sustainable for more renters, buyers, and homeowners, particularly in traditionally underserved communities," said Michael DeVito, CEO of Freddie Mac. "Our multi-pronged approach reinforces Freddie Mac's commitment to working across the housing industry to support opportunities for more Black and Latino families to access the American Dream. We are pleased to report that this work is already underway." Additionally, the FHFA has created a pilot transparency framework for the GSEs to accompany these plans. is framework requires both Fannie Mae and Freddie Mac to publish and maintain a list of pilots and test-and-learn activities on its public website. e framework will provide accountability in determining whether such activities are working to address the disparities identified in the Equitable Housing Finance Plans. "Our Equitable Housing Finance Plan lays the groundwork to meaningfully address housing barriers faced by Black renters and homeowners," said David C. Benson, President and Interim CEO of Fannie Mae. "We want to knock down these barriers, one by one, doing our part to undo the legacy of discriminatory practices that perpetuate racial housing gaps in America. e Plan is a solid step toward this goal and a milestone in our work to make housing stronger, fairer, and more sustainable