FHFA gave Fannie Mae high marks for its performance in the duty-to-serve market for manufactured housing even though Fannie missed all four of its target objectives.
The federal government in 2026 will provide $293.43 billion in loans and loan guarantees to rural households. Some $27.43 billion will come from the Rural Housing Service and $107.52 billion through FHA and VA.
Since 2016, when the duty-to-serve rule compelled the GSEs to make it easier to buy homes in rural census tracts, home prices have remained mostly stable and rents have declined.
Most government-insured mortgage lending continues while the government is out of commission, but lending under the Department of Agriculture’s Rural Housing Service is on hold.
The Federal Housing Finance Agency has issued a request for information seeking industry comment on the GSEs’ plans to support underserved communities under their duty-to-serve obligations.
Although Fannie Mae and Freddie Mac met their duty-to-serve obligations, that doesn't mean they achieved all their goals. Both enterprises received low scores in some categories.
Ingrid Ripley, executive director of USDA RD’s single-family home guarantee program, said construction lending and manufactured housing loans will help address the housing supply issue in rural America.
USDA Under Secretary for Rural Development Xochitl Torres Small testified this week about the shortages of affordable multifamily rental units and single-family homes for sale in rural areas.