On March 17, 2016 NAR submitted comments in response to FHFA’s proposed Duty to Serve rule. The rule is intended to facilitate a secondary market for mortgages on residential properties in specified underserved markets. The benefit from the standardization, stability, and confidence provided by secondary mortgage market investment ensures that all creditworthy consumers have reasonable access to mortgage capital. Millions of Americans will benefit from the leadership provided by the Enterprises in developing and facilitating a secondary market for mortgages in these underserved markets, which is an important step in improving the cost of mortgage credit and facilitating the return of private sources of capital to the housing finance system.
NAR Letter to FHFA Director Mel Watt Regarding FHFA's Duty To Serve Proposal
Issue Date: March 17, 2016
On March 17, 2016 NAR submitted comments in response to FHFA’s proposed Duty to Serve rule. The rule is intended to facilitate a secondary market for mortgages on residential properties in specified underserved markets. The benefit from the standardization, stability, and confidence provided by secondary mortgage market investment ensures that all creditworthy consumers have reasonable access to mortgage capital. Millions of Americans will benefit from the leadership provided by the Enterprises in developing and facilitating a secondary market for mortgages in these underserved markets, which is an important step in improving the cost of mortgage credit and facilitating the return of private sources of capital to the housing finance system.
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