FHFA will consider this guidance when evaluating the Enterprise’s plan and performance of its duty to serve underserved markets. 2. Underserved Markets Plan-Proposed 1282.35. FHFA proposes that each Enterprise provide an underserved markets plan against which the Enterprise would be evaluated and rated.
Federal Housing Finance Agency’s (FHFA’s) proposed Rule on the Duty to Serve Underserved Markets for Enterprises; proposed rule. 12 cfr part 1282, RIN 2590-AA27. The Housing and Economic Recovery Act of 2008 mandates that Fannie Mae and Freddie Mac have a "Duty to Serve" three traditionally underserved markets of: rural housing,
The initial impact of these funds is discussed further below. Treasury supports programs, such as FHFA’s proposed rule mandating a duty to serve underserved housing markets, to incentivize issuers of.
the members of the LIHTC Working Group, we respectfully submit our comments on the Federal Housing Finance Agency (FHFA) Proposed Rule on Enterprises Duty to Serve Underserved Markets (Proposed Rule). This proposed regulation implements the duty for the Federal National Mortgage Association (Fannie Mae) and federal home loan mortgage.
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Now, the FHFA has issued its rules for choosing alternative models, but the rules do not allow the GSEs to use VantageScore, because of its relationship with the credit bureaus. “The proposed rule.
FICO and its competitor, VantageScore, have been held in suspense to see which credit score model, if any, the Federal Housing Finance Agency will. “These steps include developing a proposed rule,
The proposed rule would also establish a method for evaluating and rating the enterprises’ performance in each underserved market for 2010 and subsequent years. In its proposal, the FHFA described.
The proposed rule, according to the press release, creates certain eligible activities that would earn Duty to Serve credits. Under the proposed rule, Fannie Mae and Freddie Mac would be required to submit to FHFA an Underserved Market Plan covering a three-year period, subject to public review and comment.
FHFA has issued a proposed rule that seeks to strike a balance between the requirement that the Enterprises serve families in these markets and their continued safety and soundness. UNDERSERVED MARKETS PLANS Under the proposed rule , the Enterprises would each be required to submit to FHFA a draft Underserved Markets Plan