FHFA updates equitable housing plans for Fannie Mae, Freddie Mac

The Federal Housing Finance Agency today announced updates to Fannie Mae and Freddie Mac’s equitable housing finance plans for 2023. The plans were adopted last year to provide the GSEs with a three-year roadmap to address inequities in the housing market.

According to the agency, updates to the plans include actions to remove barriers experienced by Latino renters and homeowners in Fannie Mae’s plan; an enhanced focus on ensuring existing borrowers receive fair loss mitigation support and outcomes through monitoring; provision of financial capabilities coaching to build credit and savings; support for locally-owned modular construction facilities in communities of color; and increases to the reach of enterprise special purpose credit programs to support homeownership attainment and housing sustainability in underserved communities.