If you sell homes where the buyer doesn’t own the land, you already feel this one. Here’s what the federal regulator over Fannie Mae and Freddie Mac put in writing this summer. 📄 What happened On June 24th, 2026, the Federal Housing Finance Agency (FHFA) published a proposed rule to replace the Duty to Serve regulation for Fannie Mae and Freddie Mac. Duty to Serve covers three underserved markets: manufactured housing, affordable housing preservation, and rural housing. 📊 The numbers FHFA cited ✅ About 70 to 80 percent of new manufactured homes are titled as personal property, which makes chattel loans the main way they’re financed. ✅ Chattel borrowers face a 65.6 percent denial rate, compared to 8.8 percent for site built homes. ✅ Approved chattel borrowers pay an average rate of 9.24 percent, against 6.63 percent for traditional mortgages. ✅ FHFA has offered extra credit for chattel lending every year since Duty to Serve began, and neither company has bought chattel loans under the program. Why it matters: Fannie Mae and Freddie Mac buy mortgages from lenders, which gives those lenders money to lend again. That hasn’t been happening for chattel loans under Duty to Serve. If it changes, more lenders could have more room to say yes. The honest status: this is still a proposed rule. Comments closed July 24th, 2026, and as of today FHFA’s rulemaking page shows the proposal and a June 26th correction, with no final rule. So nobody should promise a buyer anything yet. One more thing, because it matters: this is a financing access issue, not a value issue. A home in a community is every bit as much a home. 🏡 Let’s discuss: 1. When a buyer gets declined for chattel, what’s your next move? 2. What do you do early in the conversation to set buyers up for a yes? 3. If Fannie and Freddie started buying chattel loans, what would change first on your lot? 4. Source: Federal Housing Finance Agency, Federal Register, June 24th, 2026. This is industry education, not financial advice.