HousingWire: Fannie, Freddie announce final plan to serve underserved markets

GSEs ramp up efforts to support underserved markets

Fannie Mae and Freddie Mac today each revealed their final plans to confront the growing U.S. affordable housing crisis.

The low inventory of affordably prices homes continues to shrink, and Freddie Mac announced its plan focuses on supporting underserved markets by financing more rural and manufactured homes. With this effort, the company hopes to preserve affordable housing for homebuyers and renters across the U.S.

Fannie Mae explained the plan complements its ongoing efforts to bring innovative affordable housing solutions to market in a safe and sound manner. It listed three categories of underserved markets its new plan targets.

• Manufactured Housing - Exploring financing options for one of the largest affordable housing opportunities
• Affordable Housing Preservation - Helping keep established affordable properties available as low-cost housing alternatives
• Rural Housing - Supporting the financing of housing for targeted high-needs rural regions and populations

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Courtesy of HousingWire