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Financial Services Law Insights and Observations

FHFA announces GSE equitable housing goal plans

Federal Issues FHFA RFI GSEs

Federal Issues

On September 7, FHFA announced that Fannie Mae and Freddie Mac (GSEs) will submit Equitable Housing Finance Plans to FHFA by the end of 2021. According to FHFA the GSEs will identify and address barriers to sustainable housing opportunities, including their goals and plans of action to advance equity in housing finance for the next three years. In addition, FHFA will require the GSEs to submit annual progress reports regarding which actions were taken to implement their plans. FHFA is issuing a Request for Input, which invites public input through October 25, to aid the GSEs in preparing their first plans and to aid FHFA in overseeing the plans. Acting Director Sandra L. Thompson noted that by identifying and addressing the barriers to equitable housing finance opportunities, the GSEs “can responsibly reduce the racial and ethnic disparities in homeownership and wealth that still exist today.”