GSEs Submit Plans to Serve the Underserved

Originally published on May 19, 2021, for the M Report.

The Federal Housing Finance Agency (FHFA) has published its proposed 2022-2024 Underserved Markets Plans, submitted by Fannie Mae and Freddie Mac under the Duty to Serve (DTS) program. The proposed Plans cover the period from January 1, 2022-December 31, 2024.

The Housing and Economic Recovery Act of 2008 amended the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish a duty for the government-sponsored enterprises (GSEs) to serve three specified underserved markets–manufactured housing, affordable housing preservation, and rural housing–by advancing the liquidity of mortgage investments, and improving the distribution of investment capital available to facilitate a secondary market for residential financing for very low-, low-, and moderate-income families in those underserved markets.

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