9.8.21
On September 7, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will be required to submit a strategic plan to advance equity in housing finance by the end of this year. These plans, which are to be updated and reported annually to the FHFA, aim to address barriers to housing opportunities and must specifically include strategies to reduce the racial homeownership gap. Additionally, the plans must include goals to reduce underinvestment or undervaluation in historically marginalized areas. These latest reporting metrics, along with other recent policy changes align with the Biden Administration’s agenda for advancing equitable housing standards. The FHFA will accept public comments on the proposal until October 25, 2021.