The Federal Housing Finance Agency has released proposed requirements for Fannie Mae and Freddie Mac to provide liquidity to underserved housing markets. Under the proposal, each GSE would have to present a plan to serve such markets. FHFA will then rate their performance against the plans. The proposed rule, announced Tuesday morning, was required by a 2008 housing law. There will be a 45-day period for FHFA to collect public comments before finalizing the rule. Both have been wards of the government since the fall of 2008.
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