Comments due on FHFA Fair Lending policy statement
On July 1, the Federal Housing Finance Agency issued a Policy Statement on Fair Lending, which communicates FHFA's commitment to comprehensive fair lending oversight of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks and provides a foundation for building out FHFA's fair lending program. The Federal Housing Enterprises Financial Safety and Soundness Act empowers FHFA to help effectuate the Fair Housing Act and the Equal Credit Opportunity Act through monitoring and information-gathering, conducting supervisory examinations, and engaging in administrative enforcement activities.
The FHFA invites comments on the application of the Policy Statement within 60 days of its publication in the Federal Register.
The FHFA has also issued Orders on Fair Lending Reporting to Fannie Mae and Freddie Mac, that require them to submit quarterly reports to FHFA with fair lending information and data to improve the Agency's fair lending supervision and monitoring capabilities.
7/8/2021 Publication and comment period update: The Policy Statement is scheduled for publication in the Federal Register for 7/9/2021, with a comment period ending 9/7/2021.