Fannie, Freddie Must Submit Equitable Housing Finance Plans

Mortgage giants Fannie Mae and Freddie Mac have been ordered to submit equitable housing finance plans by the end of year, laying out a roadmap for reducing racial or ethnic homeownership gaps over the next three years. The plans — which will take effect on Jan.

1 — must identify and address barriers to sustainable housing opportunities, and Fannie and Freddie will be required to submit annual progress reports documenting actions taken to implement the plans. Sandra Thompson “For generations, discriminatory practices like redlining have prevented communities of color from building wealth through homeownership,” said Sandra L.

Thompson, the acting director of Fannie and Freddie’s regulator, the Federal Housing Finance Agency, in a statement. “By identifying the barriers to equitable […].

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