Manufactured housing

New Blueprint Shows How Fannie Mae and Freddie Mac Can Expand Affordable Housing

By Kristina McGeehan, February 7, 2024


The Underserved Mortgage Markets Coalition, an alliance of leading US housing organizations convened by the Lincoln Institute of Land Policy, today released a blueprint for Fannie Mae and Freddie Mac’s 2025–2027 Duty to Serve plans. 

As the mortgage business moves increasingly from federally regulated banks to other lenders, Fannie and Freddie play an even bigger role in determining access to affordable housing finance.  The UMMC helps to demystify the complicated “secondary mortgage market” and organize the affordable housing community to work more efficiently with Fannie and Freddie. 

Every three years, the two Government-Sponsored Enterprises (GSEs) are required to create plans outlining how they will comply with Duty to Serve, a federal regulation that requires the enterprises to prioritize and improve affordable housing finance opportunities in three historically neglected markets: manufactured housing, rural housing, and affordable housing preservation. 

The Underserved Mortgage Markets Coalition’s recommendations, “Blueprint 2024,” urges the Enterprises to increase certain loan purchases in DTS markets, develop new, accessible loan products and programs, and evaluate new partnership opportunities. By centering affordable housing experts’ perspectives and synthesizing the most critical action steps, the coalition hopes to expand and enhance the Enterprises’ performance in underserved markets. The coalition will track the plans’ progress and publish a scorecard evaluating the success of the GSEs in adhering to the blueprint and implementing their plans.   

“Duty to Serve is one of the most important affordable housing regulations this country has,” said George W. McCarthy, president and CEO of the Lincoln Institute of Land Policy. “The Underserved Mortgage Markets Coalition’s new blueprint equips Fannie Mae and Freddie Mac with the guidance they need to comply with this federal regulation and expand housing finance opportunities in unprecedented, potentially revolutionary ways.” 

The Underserved Mortgage Markets Coalition consists of 32 leading US affordable housing organizations seeking to hold Fannie Mae and Freddie Mac accountable to their founding purpose: to bring housing finance opportunities to American families not traditionally served by the private market. Its members include: 

  • Center for Community Progress 
  • Ceres 
  • Cdcb 
  • Enterprise Community Partners 
  • Fahe 
  • Grounded Solutions Network 
  • Homeownership Alliance 
  • Housing Assistance Council 
  • Housing Partnership Network 
  • Institute for Market Transformation 
  • Leading Age 
  • Lincoln Institute of Land Policy 
  • Local Initiatives Support Corporation 
  • National Consumer Law Center 
  • National Council of State Housing Agencies 
  • National Community Stabilization Trust 
  • National Housing Conference 
  • National Housing Trust 
  • Neighborhood Housing Services of Chicago 
  • NeighborWorks America 
  • New Hampshire Community Loan Fund 
  • Next Step 
  • Novogradac 
  • Oklahoma Native Assets Coalition 
  • Opportunity Finance Network 
  • Prosperity Now 
  • RMI 
  • ROC USA 
  • Stewards of Affordable Housing for the Future 
  • The American Council for an Energy-Efficient Economy (ACEEE) 
  • Unidos US 
  • Urban Strategies 

To learn more about the Underserved Mortgage Markets Coalition, visit its webpage here.



Kristina McGeehan is director of communications at the Lincoln Institute of Land Policy.

Image: A neighborhood of manufactured houses, one of the Duty to Serve markets. Credit: motorider via iStock/Getty Images Plus.