The U.S. Department of Housing and Urban Development (HUD) and
the Federal Housing Finance Agency (FHFA) today entered into a first-of-its-kind collaborative agreement regarding fair housing and fair lending coordination.
The two agencies signed a memorandum of understanding (MOU) that will focus on enhancing their enforcement of the Fair Housing Act, which HUD is primarily charged with administering and enforcing, and their oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks, all of which FHFA regulates.
In a press release, HUD and FHFA said the MOU is an important mechanism that strengthens their ability to enforce fair housing and fair lending requirements “by promoting information sharing, coordination on investigations, compliance reviews, and the ongoing monitoring of the Enterprises” (Fannie Mae and Freddie Mac).
HUD and FHFA added that they anticipate the MOU “will lead to stronger oversight that will help advance vigorous fair housing enforcement that can begin to redress our nation’s history of discriminatory housing practices.”
View the MOU between HUD and FHFA regarding fair housing and fair lending coordination.