An Excerpt

We commend you for the thoughtful and innovative approach you have taken to the statutory
requirement that the Federal Home Loan Mortgage Corporation and the Federal National
Mortgage Association (the Enterprises) have a “Duty to Serve” particular markets –
preservation, rural areas and manufactured housing. These markets were chosen because they
have a history of being underserved and would benefit from the liquidity and stability that the
Enterprises can provide. HPN’s members are active in providing both single family and
multifamily affordable housing in all fifty states. A well-functioning secondary market is crucial
to our members’ missions to increase the supply of safe, decent, affordable housing. Duty to
Serve has the potential to push the Enterprises to be better partners to mission-driven housing
nonprofits and we commend the FHFA for thinking creatively how to achieve that goal. 

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