Comments on the FHFA’s RFI on the GSEs’ Equitable Housing Finance Plans

 On October 25, Enterprise submitted comments on the Federal Housing Finance Agency’s Request for Input (RFI) regarding Fannie Mae and Freddie Mac’s (collectively, the Government Sponsored Enterprises, or GSEs) required Equitable Housing Finance (EHF) Plans, which, once developed, will describe their intentional efforts to advance racial equity in the housing finance system.

Enterprise’s comments commend FHFA’s effort to advance racial equity in the housing finance sector. Our comments urge FHFA to consider any EHF plan to be incomplete if it fails to address the persistent challenges related to housing access, affordability, and quality faced by BIPOC individuals and families who rent, in addition to setting objectives related to closing the racial homeownership gap. We recommend establishing baselines based on disaggregated data by race and ethnicity and developing plans to make the housing finance system more equitable across the spectrum of homes, including a focus on single family rental homes, 2-4 unit properties and smaller multifamily buildings. We propose the elimination of source of income discrimination for GSE borrowers, which would increase access for Housing Choice Voucher holders, support for resident services, preservation of affordable rental homes, and investments in products and programs to build renter wealth.