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Stakeholders tell FHFA to tighten equity plans, define 'first‑generation' buyers and protect renters
Summary
At an FHFA listening session, housing advocates, HFAs, industry groups and tenant organizers urged clearer first‑generation home‑buyer definitions, more transparency and stronger tenant protections, highlighting manufactured housing, Native access and appraisal bias.
The Federal Housing Finance Agency hosted a public listening session on its Enterprises' Equitable Housing Finance plans, drawing nonprofit advocates, state housing agencies, industry trade groups and tenant organizers to provide feedback on the 2024 plan updates and the 2025–2027 planning cycle.
FHFA deputy director for the Division of Housing Mission and Goals opened the session by asking stakeholders to comment on what has worked and on the draft 'first‑generation home buyer' definition. Several speakers underscored the need for FHFA and the Enterprises to publish clearer, publicly accessible performance metrics and to allow Housing Finance Agencies (HFAs) flexibility in definitions and program design.
Why it matters: Witnesses said the plans shape how Fannie Mae and Freddie Mac (the government‑chartered enterprises) direct liquidity and program support to underserved communities. Andrew Jovix of Enterprise Community Partners cited program impacts—positive rent‑payment programs that have helped renters establish credit and special‑purpose programs that have helped families access mortgages—and urged expanded renter‑focused activities. Several speakers requested that FHFA codify transparent evaluation metrics and supervisory reporting so the public can track whether objectives are translating into home‑ownership and rental outcomes.
Speakers also pressed three recurring themes: (1) sharpen the 'first‑generation' buyer definition so it reaches intended beneficiaries while allowing HFAs to use state‑specific definitions; (2) expand language access and data disaggregation for Asian American, Native Hawaiian and Pacific Islander subgroups; and (3) require greater transparency on appraisal and underwriting data to detect bias and design remedies.
Quotes: "We really value your input and we will consider it seriously as we move forward," FHFA staff said in opening remarks. "These plans have helped start an important conversation on how to ensure all families have access to affordable and sustainable housing opportunities," Enterprise's Andrew Jovix said. Morin Yap of the National Fair Housing Alliance urged FHFA and the Enterprises to "support robust public research using the uniform appraisal data."
What comes next: FHFA staff reminded participants the agency will accept written comments through the RFI deadline and said themes from today’s session may be summarized for consideration in plan finalization. No formal actions or votes were taken at the session.
The session illustrated widespread support for the rulemaking's goals, but also persistent disagreement over how the Enterprises should measure success, target programs and manage tradeoffs between national standards and locally tailored approaches.
