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B-332823 1 (2021-01-05)

handle is hein.gao/gaobaecju0001 and id is 1 raw text is: G A O U.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 B-332823 January 5, 2021 The Honorable Mike Crapo Chairman The Honorable Sherrod Brown Ranking Member Committee on Banking, Housing, and Urban Affairs United States Senate The Honorable Maxine Waters Chairwoman The Honorable Patrick McHenry Ranking Member Committee on Financial Services House of Representatives Subject: Federal Housing Finance Agency: 2021 Enterprise Housing Goals Pursuant to section 801(a)(2)(A) of title 5, United States Code, this is our report on a major rule promulgated by the Federal Housing Finance Agency (FHFA) entitled 2021 Enterprise Housing Goals (RIN: 2590-AB04). We received the rule on December 17, 2020. It was published in the Federal Register as a final rule on December 21, 2020. 85 Fed. Reg. 82881. The effective date of the rule is February 19, 2021. According to FHFA, the final rule contains the 2021 housing goals for Fannie Mae and Freddie Mac (the Enterprises). FHFA stated the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, Pub. L. No. 102-550, title XIII, 106 Stat. 3941 (Oct. 28, 1992), requires it to establish annual housing goals for mortgages purchased by the Enterprises. The agency further stated the housing goals include separate categories for single family and multi-family mortgages on housing that is affordable to low-income and very low-income families, among other categories. FHFA also stated the final rule establishes benchmark levels for each of the housing goals for 2021. The Congressional Review Act (CRA) requires a 60-day delay in the effective date of a major rule from the date of publication in the Federal Register or receipt of the rule by Congress, whichever is later. 5 U.S.C. § 801(a)(3)(A). The House of Representatives received the final rule on December 28, 2020. 166 Cong. Rec. H9175 (daily ed. Dec. 31, 2020). The Congressional Record does not indicate when the Senate received the final rule. The final rule was published on December 21, 2020. 85 Fed. Reg. 82881. The final rule has a stated effective date of February 19, 2021. Therefore, based on the later receipt date of December 28, 2020, the final rule does not have the required 60-day delay in its effective date.

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