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“Challenges and barriers continue to limit sustainable housing opportunities for minority, low-income, and senior borrowers, as well as families living in rural areas and on tribal land,” said FHFA director Sandra Thompson. “The proposed rule will help FHFA ensure that our regulated entities operate in a safe and sound manner as they comply with fair housing laws and serve the public interest.”
Last year, the agency released the inaugural Equitable Housing Finance Plans designed to promote the enterprises’ safety and soundness and foster equitable access to affordable and sustainable housing. FHFA also mandated Fannie Mae and Freddie Mac to require lenders to use the SCIF as part of the application process for loans sold to the enterprises. Lenders were required to adopt these changes on or after March 1, 2023.
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