WASHINGTON—The National Housing Conference welcomes the final Duty to Serve rule issued by the Federal Housing Finance Agency today. The rule creates a process to guide Fannie Mae and Freddie Mac to better reach people and places not well served by the mortgage market.
“The Duty to Serve rule can help private capital reach rural areas, preserve affordable housing and improve manufactured housing, potentially finding new business opportunities,” said Chris Estes, president and CEO. “These are areas that are vital parts of solving the nation’s affordability challenges but have not received as much attention previously. FHFA has brought needed clarity so that good affordable housing can be good business.”
NHC is pleased to see that FHFA took careful note of comments from a wide range of stakeholders to design a process that should produce achievable and meaningful objectives for Fannie Mae and Freddie Mac with ongoing public input. We look forward to continued engagement with FHFA and with the broader housing and community development sectors to integrate these issues and to help mortgage capital create affordable housing opportunities for all in America.
About NHC: Everyone in America should have equal opportunity to live in a quality, affordable home in a thriving community. The National Housing Conference educates decision makers and the public about housing policies and practices to move housing forward together. NHC convenes and collaborates with our diverse membership and the broader housing and community development sectors to advance our policy, research and communications initiatives to effect positive change at the federal, state and local levels. Founded in 1931, we are a nonpartisan, 501(c)3 nonprofit organization. NHC’s research team operated as the Center for Housing Policy until the organizations merged in 2013.
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