On November 18, the Federal Housing Finance Agency (FHFA) sent for publication a final rule that establishes a new regulatory capital framework for Fannie Mae and Freddie Mac (the “Enterprises”). The final rule fulfills Congress’s Housing and Economic Recovery Act of 2008 mandate that FHFA establish risk-based capital requirements for the Enterprises. Release.
On December 13, 2016, the Federal Housing Finance Agency (FHFA) issued a final rule implementing the Duty to Serve provisions mandated by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008 (HERA). The statute established a duty for Fannie Mae and Freddie Mac to serve three underserved markets: manufactured housing, affordable housing preservation and rural housing. The intent of the provisions is to increase the liquidity of mortgage investments and improve distribution of investment capital available for mortgage financing for very low-, low- and moderate-income families in the manufactured housing, affordable housing preservation and rural housing markets. Press Release. Final Rule.
On July 6, the FHFA announced a proposed rule to codify the terms of conservatorship and receivership operations for Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, pursuant to the Housing and Economic Recovery Act of 2008. Comments to the proposed rule may be submitted no later than 60 days after date of publication in the Federal Register. Release. Proposed Rule.
