The Federal Housing Finance Agency (FHFA) has finalized its 'Duty to Serve' rule which should provide certain credit to Fannie Mae and Freddie Mac for the purchase of chattel manufactured housing loans. The GSEs have not purchased chattel loans for almost a decade.
The Housing and Economic Recovery Act identified manufactured housing as one of three underserved markets which the GSEs have a 'Duty to Serve'. There will be considerable discussion on the best ways to carry out this responsibility and a public comment period for any chattel lending pilot program.
