The Department of Housing and Urban Development and the Federal Housing Finance Agency today announced a memorandum of understanding regarding fair housing and fair lending coordination. The MOU is intended to enhance enforcement of the Fair Housing Act and the oversight of FHFA-regulated entities, including Fannie Mae, Freddie Mac and the Federal Home Loan Banks. The MOU will be in place through Dec. 31, 2025.
Among other things, the MOU addresses the sharing of information regarding current and contemplated fair lending investigations, examinations or compliance reviews. It also notes that “where both HUD and FHFA determine that they will take actions with respect to a common set of issues, facts, respondents, or other matters under their respective authorities, each will strive to coordinate its action(s) in a manner that is consistent and complementary and to determine whether continued information sharing and coordination of the agencies’ respective actions is necessary and appropriate.” However, in cases where the agencies disagree, “they may cease coordination and proceed independently.”