HUD and FHFA Announce Enhanced Fair Housing Enforcement
News: HUD and FHA Announce Collaborative to Enhance Fair Housing and Lending Enforcement
Today, the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA) entered into a groundbreaking agreement regarding fair housing and fair lending coordination. Under the Memorandum of Understanding the two Agencies will focus on enhancing their enforcement of the Fair Housing Act, which HUD is primarily charged with administering and enforcing, and their oversight of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks all of which FHFA regulates.
This historic step will lead to stronger enforcement and oversight that will redress our nation’s long, dark history of exclusionary and discriminatory practices.
The memorandum allows FHFA and HUD to share information and resources to improve fair lending oversight and mortgage finance practices in an effort to better provide equal access to decent, safe and affordable housing to all Americans.
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For more information on Fair Housing, check out our blog post here.