FHFA Duty-to-Serve Indian Country
In July 2017, CICD Director Patrice Kunesh submitted comments to the Federal Housing Finance Agency (FHFA) on its Underserved Market Plans for Fannie Mae and Freddie Mac in fulfilling their Duty to Serve obligations. Both Enterprises are required to provide leadership to facilitate a secondary market for mortgages on housing for very low-, low-, and moderate income families in three underserved markets: manufactured housing; affordable housing preservation; and rural housing. Indian Country encompasses all of these markets and requires special attention. Patrice’s letter, as well as the comments submitted by the South Dakota Native Homeownership Coalition, both highlight the work of the National Native Homeownership Coalition and its efforts to open up mortgage capital on trust lands.
The recommendations cover the following areas:
- Capacity Building
- Familiarity with Indian Country
- Loan Products
- Investment Pools
- Trust Land Focus
- Capital Pools
We invite you to read the full letter for recommendations on advancing homeownership opportunities in Native communities, particularly those on trust lands.