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78 78 INVESTMENT GOVERNMENT PROPERTY PRESERVATION Journal FHFA OUTLINES COMMITMENT TO FAIR HOUSING e Federal Housing Finance Agency announced its commitment to comprehensive fair lending oversight of Fannie Mae, Freddie Mac, issuing a Policy Statement on Fair Lending. e statement details the agency's general position on monitoring and information gathering, supervisory examinations, and administrative enforcement related to the Equal Credit Opportunity Act, the Fair Housing Act, and the Federal Housing Enterprises Financial Safety and Soundness Act. It is effective immediately. e FHFA will accept commentary related to the policy statement for the next 60 days. Acting FHFA Director Sandra L. ompson, who recently replaced FHFA Director Mark Calabria, says, in concert with the policy release, that "illegal discrimination has not and will not be tolerated" by the regulatory agency. "FHFA is committed to fair mortgage lending because it ensures that all Americans have equal access to safe, decent, and affordable housing," ompson said. "FHFA's Policy Statement on Fair Lending clearly communicates the agency's fair lending expectations for the regulated entities and outlines the agency's fair lending oversight and enforcement to ensure compliance with the law." e document signed by ompson lays out other government agencies' responsibilities related to the enforcement of fair housing and explains how several federal agencies work together to prevent discrimination—on the basis of race or color, religion, national origin, sex, marital status, age, receipt of public assistance, familial status, and disability—and the role of FHFA. For example, the Consumer Financial Protection Bureau oversees the ECOA, and the U.S. Department of Housing and Urban Development regulates the Fair Housing Act, she explained. e Safety and Soundness Act requires HUD to prevent discrimination in the purchase of mortgages within Fannie Mae and Freddie Mac, the enterprises that FHFA oversees. According to the statement, "FHFA examiners have [investigative] authority equivalent to other federal prudential regulators … FHFA carefully weighs the totality of available information, including monitoring information, market intelligence, and relevant data, when considering how best to employ supervisory resources." As for enforcement, FHFA as conservator "may take immediate action, consistent with applicable law, to direct or restrict the activities at the regulated entity, including the activities of the board of directors and executive management." e Credit Union National Association (CUNA), in July, delivered a letter to ompson, reiterating its principles for housing finance reform and asking FHFA to work with credit unions to further its mission to support sustainable and affordable homeownership. CUNA (in addition to several other short- and long-term priorities) asks FHFA to "carefully examine the education and training requirements for appraisers to ensure they not only understand the existing obligations under the Fair Housing Act, but that they also receive training on implicit and unconscious bias." Upon her appointment, ompson promised a focus on affordable, equal, and equitable housing. "ere is a widespread lack of affordable housing and access to credit, especially in communities of color," she said. "It is FHFA's duty through our regulated entities to ensure that all Americans have equal access to safe, decent, and affordable housing." e full policy and instructions for commentary are available at FHFA.gov.