The Federal Housing Finance Agency (FHFA) today published the 2021 Underserved Markets Plans for Fannie Mae and Freddie Mac (the Enterprises) under the Duty to Serve (DTS) program.  The Plans became effective January 1, 2021.

FHFA issued a final rule in 2016 that implemented the DTS provisions as mandated by the Housing and Economic Recovery Act of 2008.  The statute requires the Enterprises to serve three specified underserved markets—manufactured housing, affordable housing preservation, and rural housing—by increasing the liquidity of mortgage financing for very low-, low-, and moderate-income families.

Under ordinary circumstances, each Enterprise would have submitted a three-year Plan for 2021-2023 in accordance with the DTS mandate.  Due to potential market disruption and uncertainty as a result of the COVID-19 pandemic, FHFA instructed the Enterprises to submit Plans for one year (2021) only, as an extension of their 2018-2020 Plans.

The activities outlined by the Enterprises to achieve Plan objectives will remain subject to FHFA review and approval to ensure compliance with the Enterprises’ Charter Acts, safety and soundness measures, and other conservatorship and regulatory requirements.

FHFA published the Plans today on its dedicated webpage, www.fhfa.gov/DTS.

View Fannie Mae’s Underserved Markets Plan

View Freddie Mac’s Underserved Markets Plan