19 December 2017
New Duty to Serve plan aims to expand affordability and address America’s most persistent housing problems
Freddie Mac today announced new, wide-ranging plans to tackle the affordable housing crisis in the U.S. Given the low inventory of affordably-priced residential properties and the rising cost of commercial development, Freddie Mac’s plan focuses on supporting under-served markets by financing more rural and manufactured housing and preserving more affordable housing for homebuyers and renters nationwide.
Freddie Mac’s Duty to Serve pdf plan includes increased loan purchases in these three under-served markets as well as new products, ground-breaking research and expanded consumer education. The company is working with the mortgage industry, community nonprofits, all levels of government and other dedicated organizations to make a positive difference for very low-, low- and moderate-income households.
“For more than 45 years, our innovations have brought liquidity, stability and affordability to the mortgage markets, and Duty to Serve is an important continuation of those efforts,” said David D. Leopold, vice president of targeted affordable sales & investments at Freddie Mac Multifamily. “Freddie Mac is uniquely suited to tackle some of America’s most persistent housing problems, and we look forward to deepening this work.”
“We’re developing responsible solutions to help make home possible for more American families,” said Danny Gardner, Freddie Mac’s vice president of Single-Family affordable lending and access to credit. “Addressing the affordability crisis today will benefit our country for decades to come.”
Multifamily plan highlights pdf include:
Single-Family highlights pdf include:
About Freddie Mac
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