This story appeared in Bank Digest.
The Federal Housing Finance Agency is requesting public input on chattel loan pilot initiatives for Fannie Mae and Freddie Mac (the Enterprises) and the proposed Evaluation Guidance under the final rule on Duty to Serve Underserved Markets. According to the FHFA's release, the final rule established as a Regulatory Activity Enterprise activities designed to facilitate a secondary market for loans on manufactured homes titled as personal property, also referred to as chattel, through pilot initiatives undertaken in a safe and sound manner. The agency's Request for Input concerns what an Enterprise should include in a chattel pilot initiative.
The FHFA is also requesting public input on its proposed Evaluation Guidance, released Jan. 13, 2017, which communicates the agency's expectations regarding the process for developing the Enterprises' Underserved Markets Plans and the process by which the agency will evaluate the Enterprises' achievements under their plans each year.
The FHFA requests that input on potential manufactured home chattel loans pilots be submitted by Feb. 17, 2017, and that input on the proposed Evaluation Guidance be submitted by May 15, 2017.