As reported earlier in the February 23, 2010 MHARR Washington Update on the recent meeting between MHARR member executives and senior officials of the Federal Housing Finance Agency (FHFA), attached for your information and review is a copy of the proposed 2010-2011 Enterprise Affordable Housing Goals published by FHFA in the Federal Register on February 26, 2010.
As MHARR was advised by FHFA, publication of the affordable housing goals is a prelude to the publication of a proposed rule by FHFA to implement the “Duty to Serve” mandate. The affordable housing goals are also relevant to the manufactured housing industry in their own right, as they set general criteria for the involvement of the two Government Sponsored Enterprises (GSEs) in purchasing the single-family home mortgages of lower and low-income consumers.
The proposed rule includes a comprehensive data summary of the GSEs’ past performance in meeting the affordable housing goals as well as a very detailed analysis of market factors and economic trends affecting the GSEs and their role in the housing market. MHARR has started to review all of this information and analysis, and will present a report on the proposed rule at the upcoming MHARR Board of Directors meeting. Based on the relevant input received at the meeting, MHARR will then submit comments to FHFA on the proposed rule
Danny D. Ghorbani
Manufactured Housing Association for Regulatory Reform
1331 Pennsylvania Ave. N.W. Suite 508
Washington, D.C. 20004