HUD Secretary Regulates Fannie Mae and Freddie Mac Under 1992 Act

Summary

The U.S. Department of Housing and Urban Development (HUD) Secretary has implemented a new regulatory framework for Fannie Mae and Freddie Mac, two government-sponsored enterprises that provide mortgage financing, under the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. The rule establishes three housing goals for the companies' mortgage purchases, focusing on affordable housing for low- and moderate-income families, as well as underserved areas.