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HUD/HUDSEC

RIN: 2501-AC92

Publication ID: Spring 2004

Title: The Secretary of HUD's Regulation of Fannie Mae and Freddie Mac (FR-4790)
Abstract: Through this rule, the Department will increase housing goals for the purchase of mortgages by Fannie Mae and Freddie Mac (collectively, the Government Sponsored Enterprises or GSEs) for calendar years 2005-2008. In accordance with the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (FHEFSSA), this rule will establish new goals for the GSEs' purchase of mortgages financing low- and moderate-income housing, special affordable housing, and housing in central cities, rural areas, and other underserved areas. This rule will also establish Home Purchase Mortgage subgoals under each goal and will codify new provision to strengthen the integrity of data that the GSEs provide to HUD on their mortgage purchases under the goals. The Secretary of HUD has general regulatory power over each GSE and is required to make such rules and regulations as shall be necessary to ensure that the purpose of FHEFSSA and the GSEs' charters are accomplished. HUD's current GSE regulations implement FHEFSSA's provisions and include fair housing, new program approval, reporting, and access to information requirements.
Agency: Department of Housing and Urban Development(HUD)	Priority: Other Significant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 24 CFR 81
Legal Authority: 12 USC 1451 et seq 12 USC 1716 to 1723i 12 USC 4501 to 4641 28 USC 2641 note 42 USC 3535(d) 42 USC 3601 to 3619

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	05/03/2004	69 FR 24227
NPRM Comment Period End	07/02/2004
Final Action	11/00/2004

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: Yes
Agency Contact: Sandra Fostek Director, Office of Government Sponsored Enterprise Oversight Department of Housing and Urban Development Office of Housing Phone:202 708-2224