FHFA Publishes Fannie, Freddie Duty to Serve Plans for 2018-2020
The Federal Housing Finance Agency (FHFA) today announced Fannie Mae’s and Freddie Mac’s 2018-2020 underserved markets plans for the duty to serve program. Fannie Mae plans to purchase 269 loans secured by low-income housing tax credit (LIHTC) properties in 2018-2020 and estimates it will make five new LIHTC equity investments in 2019. Freddie Mac plans to make nine LIHTC equity investments in 2018-2020 to serve high-needs rural regions. The plans–which are required to relate to the underserved markets of manufactured housing, affordable housing preservation and rural housing–become effective Jan. 1, 2018.