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Fannie Mae, Freddie Mac to File Annual Equitable Finance Reports

The Federal Housing Finance Agency has announced that it will require Fannie Mae and Freddie Mac to submit Equitable Housing Finance Plans by year-end and to file annual progress reports on meeting those plans. So reports Financial Regulation News.

FHFAThe plans, updated annually, will identify and address barriers to sustainable housing opportunities, according to the announcement.

“For generations, discriminatory practices like redlining have prevented communities of color from building wealth through homeownership,” said FHFA Acting Director Sandra Thompson, in a statement. “By identifying the barriers to equitable and sustainable housing finance opportunities and setting goals for addressing those barriers, the Enterprises, consistent with safety and ​soundness, can responsibly reduce the racial and ethnic disparities in homeownership and wealth that still exist today.”

Read the full article from Financial Regulation News.

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