FHFA strengthens Duty to Serve criteria

Mar 12, 2020

The Federal Housing Finance Agency said it is strengthening the Duty to Serve Underserved Markets program's evaluation criteria.

The “duty to serve” plans established by the Housing and Economic Recovery Act of 2008 require the enterprises to serve three specified underserved markets—manufactured housing, affordable housing preservation, and rural housing.

The updated guidance includes a revised ratings framework, higher expectations for impactful plans, and higher compliance thresholds. The FHFA said the updated guidance will ensure the programs have a significant impact in underserved communities.