Long-Awaited “Duty to Serve” Proposal Unveiled
The Federal Housing Finance Agency (FHFA) announced, at the June 2, 2010 Elkhart, Indiana industry finance summit meeting, the release of its long-awaited proposed rule to implement the “duty to serve underserved markets” (DTS) provision of the Housing and Economic Recovery Act of 2008. The unofficial text of the proposed rule, which (as of June 3, 2010) has not yet been published in the Federal Register, is available through a link at the conclusion of the attached June 1, 2010 FHFA News Release announcing this action (see, attachment).