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The U.S. Department of Housing and Urban Development announced Wednesday the Affirmatively Furthering Fair Housing Final Rule, which will help communities that receive HUD funding get the help they need to meet fair housing obligations in the use of HUD funds. The aim of the final rule is to provide participants in HUD programs with clear guidelines and data they need to achieve the goals outlined in the Fair Housing Act of 1968. HUD Secretary Julián Castro called the final rule "historic."
In addition to equipping these communities with data and tools to help them meet their fair housing obligations, additional guidance and technical assistance will be provided by HUD to assist local decision-makers on fair housing priorities and affordable housing and community development goals. The new rule also includes the promotion of access to community assets such as quality education, employment, and transportation for HUD's program participants.
Freddie Mac, Fannie Mae, and Common Securitization Solutions jointly announced on Wednesday the development of an Industry Advisory Group. The group will provide feedback and share information on efforts to build the Common Securitization Platform and implement the Single Security, which is a joint initiative of the GSEs, directed by the FHFA, to develop a single mortgage-backed security that will be issued by the Enterprises to finance fixed-rate mortgage loans backed by one-to four-unit single-family properties.
