The Federal Housing Finance Agency (FHFA) announced its objections to Fannie Mae’s and Freddie Mac’s revised Duty to Serve (DTS) Proposed Underserved Markets Plans for 2022-2024. Under the DTS rule, Fannie Mae and Freddie Mac (the Government-Sponsored Enterprises, or GSEs) must prepare and submit three-year DTS plans detailing their activities to serve three underserved markets: manufactured housing; rural housing; and affordable housing preservation. After reviewing the revised DTS plans for 2022-2024, FHFA determined that neither GSE’s plan meets the DTS Non-Objection standard for any of the three areas. FHFA directed the GSEs to submit additional revisions to improve the DTS plans’ impact on all three underserved markets. FHFA also clarified that, until the revisions are made, implementation of the DTS Program will continue based on the objectives of the GSEs’ current proposed DTS plans.