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FHFA Seeks Comments on Duty to Serve Rule

Tuesday, December 15, 2015 - 1:00PM

The Federal Housing Finance Agency (FHFA) today issued a proposed rule that would provide Duty to Serve credit for eligible Fannie Mae and Freddie Mac activities that facilitate a secondary market for mortgages on residential properties in the specified underserved markets, including affordable housing preservation, rural housing and manufactured housing. The rule proposes that the government sponsored enterprises (GSEs) receive Duty to Service credit for activities related to the U.S. Department of Housing and Urban Development's (HUD's) rental assistance demonstration (RAD) program and Choice Neighborhood Initiative. Additionally, the proposed rule requests comments on whether the GSEs should resume equity investments in low-income housing tax credit (LIHTC) developments; once, significant LIHTC equity investors, the GSEs ceased LIHTC investing before entering conservatorship in 2008 .

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