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RFI: Fannie Mae and Freddie Mac Duty to Serve Plans

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Today I submitted a comment on the current proposals from Fannie Mae and Freddie Mac related to their Duty To Serve obligations.

From the FHFA website:

The Duty to Serve (DTS) requires Fannie Mae and Freddie Mac (Enterprises) to facilitate a secondary market for mortgages on housing for very low-, low-, and moderate-income families in: Manufactured housing, Affordable housing preservation, and Rural housing. The 2018-2020 Plans describe specific activities each Enterprise will undertake to fulfill their Duty to Serve obligations in each underserved market.

The request itself can be found at;
Request for Input on Fannie Mae and Freddie Mac Proposed Modifications to Their 2018-2020 Duty to Serve Plans

My response can by found at:
https://www.fhfa.gov/PolicyProgramsResearch/Programs/Pages/DTSPlanModificationsRFIList.aspx

If you’ve ever attempted to get a loan to buy or repair a Manufactured Home, you know for a fact that almost no one with give you a loan. The only reason I got one, in spite of my excellent credit rating, was because the branch officer went to bat for me and got an exception in the form of a personal loan. There is no support for loans on Manufactured Homes, never mind for very low-, low-, and moderate-income families.

If you have been impacted by this, please submit a letter. Unfortunately, I only became aware of this yesterday and the deadline is Friday.

FHFA will accept public input on this request for input no later than November 15,

Submissions may be delivered by one of the following two ways:
(1) Submitted to the DTS webpage at
https://www.fhfa.gov/PolicyProgramsResearch/Programs/Pages/Duty-to-Serve.aspx
or
(2) Addressed to FHFA, Division of Housing Mission and Goals, 400 Seventh Street, S.W.,
Seventh Floor, Washington, D.C. 20219.
Submissions to FHFA will be publicly posted without change, including personal information
such as name, street address, email address, and telephone number. (I missed this notice)

A Letter to Supervisor Frost on the Affordable Housing Crisis

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Supervisor Frost; We are in the middle of a major Affordable Housing Crisis that calls for smart and compassionate responses from all our elected representatives. This letter is in response to your email message trying to explain an action that we believed failed this test. 08 November 2019: Why I voted against the emergency eviction ordinance. In your message, you hit one nail on the head; “In 2019 the National Apartment Association conducted a survey of firms that build multifamily … Continue reading →

Open letter to Poster Boy Frank Rolfe

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Dear sir; You should be placed on a pedestal as the Poster Boy for the nation’s current Affordable Housing Crisis. For decades this nation had an example of affordable housing that worked beautifully. Families would establish a business to invest in communities where others could rent a place to live in their manufactured homes. The site rents brought in enough money to support operations, maintenance and provide the owners with a comfortable living. They were similar to non-profit organizations, except … Continue reading →

Taking Advantage of the Poor

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Today, in many occupations, it is common practice to ignore the impact of your actions on people. Sometimes, you aren’t aware that there is an impact. However, often the impact is easily understood, yet still ignored as not relevant to your work. The problem is the fact that a corporation or a bureaucracy is not a “person”. It has no conscience or sense of compassion. It has internal rules, goals and guidelines. It is up to us to supply it … Continue reading →

Mobil Country Club Community: We hit the Jackpot!

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My wife, Mary, and I could not keep up with the rising rate of the cost of living in our home town of San Jose, California. We decided to sell our home and move to Sacramento County.  After some searching, we chose a Manufactured/Mobile Home Community In Rancho Cordova, the Mobil Country Club (MCC).1The formal spelling of Mobil is without the letter “e”, as you can see in the photo of the sign.  Sacramento County offered us a chance to … Continue reading →