HUD, FHFA Team to Advance Fair Housing and Fair Lending Enforcement

The U.S. Department of Housing and Urban Development (HUD) andfhfa the Federal Housing Finance Agency (FHFA) today entered into a first-of-its-kind collaborative agreement regarding fair housing and fair lending coordination.

The two agencies signed a memorandum of understanding (MOU) that will focus on enhancing their enforcement of the Fair Housing Act, which HUD is primarily charged with administering and enforcing, and their oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks, all of which FHFA regulates.

In a press release, HUD and FHFA said the MOU is an important mechanism that strengthens their ability to enforce fair housing and fair lending requirements “by promoting information sharing, coordination on investigations, compliance reviews, and the ongoing monitoring of the Enterprises” (Fannie Mae and Freddie Mac).

HUD and FHFA added that they anticipate the MOU “will lead to stronger oversight that will help advance vigorous fair housing enforcement that can begin to redress our nation’s history of discriminatory housing practices.”

View the MOU between HUD and FHFA regarding fair housing and fair lending coordination.

FHFA Announces Equitable Housing Finance Plans for Fannie Mae, Freddie Mac

The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will submit Equitable Housing Finance Plans to FHFA by the end of 2021.

The Enterprises will update these plans annually and they will identify and address barriers to sustainable housing opportunities, including the Enterprises’ goals and action plans to advance equity in housing finance for the next three years.

FHFA also will require the Enterprises to submit annual progress reports on the actions undertaken during the prior year to implement their plans.

Under the recently signed Memorandum of Understanding between FHFA and HUD regarding fair housing and fair lending coordination, HUD provided insight and expertise to FHFA regarding this equitable housing finance initiative.

FHFA is issuing a Request for Input ​that seeks public comment until Oct. 25, to aid the Enterprises in preparing their first plans and to aid FHFA in overseeing the plans.

FHFA will also host a public listening session​ on Sept. 28 to allow for additional public input.