A federal law mandates that Fannie Mae and Freddie Mac help households on moderate, low, or very low income. The government-sponsored enterprises must do this by setting a plan every three years, dubbed Duty to Serve, that provides lending liquidity and preservation goals for manufactured, rural, and affordable housing.
But according to the Federal Housing Finance Agency, which has oversight power over Fannie and Freddie, the GSE’s must go back to the drawing board when it comes to their 2022-2024 Duty to Serve plan.
In fact, according to an FHFA spokesperson, neither Fannie nor Freddie’s plan is sufficient for any of details ⇒
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