Fannie Mae Submits Duty to Serve Underserved Markets Plan for Public Comment

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May 08, 2017, 13:00 ET

WASHINGTON, May 8, 2017 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) today submitted its Duty to Serve (DTS) Underserved Markets Plan to the Federal Housing Finance Agency (FHFA) for public comment. The draft Plan aims to address the needs of America's most underserved housing markets and will focus on three key underserved areas: manufactured housing, affordable housing preservation, and rural housing.

Fannie Mae's DTS Underserved Markets Plan can be found on FHFA's DTS Underserved Markets Plan List page. Public input on the proposed Plan can be provided through July 10, 2017 on FHFA's DTS Draft Underserved Markets Plans Input page.

"Fannie Mae welcomes the opportunity to create housing opportunities that are affordable and we are prepared to bring all our experience, knowledge, and capabilities to bear in fulfilling our Duty to Serve. We recognize that there are no easy solutions to the tough and often long-standing challenges that characterize underserved markets. It will take research, education, and innovative partnerships to make housing more affordable in all markets," said Jeffery Hayward, Executive Vice President and Head of Multifamily, Fannie Mae. "We are excited that the Duty to Serve rule aligns with our mission to increase access to mortgage credit and housing options for all Americans as we find new ways and new partners to support underserved markets that need help."

To learn more about what Fannie Mae is already doing to make housing more accessible, visit Fannie Mae's website.

Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.

SOURCE Fannie Mae