Fannie Mae, Freddie Mac Publish Underserved Markets Plans for 2021
The Federal Housing Finance Agency (FHFA) today published the 2021 Underserved Markets Plans for Fannie Mae and Freddie Mac. Due to market uncertainty from the COVID-19 pandemic, Fannie and Freddie were instructed to submit plans for 2021 only, as an extension of their 2018-2020 plans. They normally would have submitted plans for 2021-2023. The 2021 plans were effective Jan. 1. The Housing and Economic Recovery Act of 2008 requires Fannie and Freddie to serve three specific underserved markets–manufactured housing, affordable housing preservation and rural housing–by increasing the liquidity of mortgage financing for families with very low, low and moderate incomes.
Affordable housing financing issues will be discussed at the Novogradac 2021 RAD Public Housing Virtual Conference, Jan. 14-15.