Request for Input (RFI) on Fannie Mae and Freddie Mac (the “Enterprises”) Proposed 2025 -2027 Duty to Serve Plans (the “DTS Plans）

The Private Equity Stakeholder Project (PESP) argues that private equity firms are aggressively acquiring manufactured home parks in the U.S., utilizing a business model that increases rents and fees to maximize profits at the expense of vulnerable, low-income residents. PESP highlights that Fannie Mae and Freddie Mac have financed 49% of private equity-owned parks identified in their tracker, despite financing only 9% of all U.S. manufactured home parks. The document details numerous instances of poor living conditions, rent hikes, and predatory practices by firms such as Carlyle Group, Blackstone, and Havenpark. PESP supports the Enterprises' 2025-2027 Duty to Serve Plans, particularly objectives that promote resident-owned communities, tenant lease protections, and affordability restrictions.

• Private equity and institutional investors have significantly increased their acquisition of manufactured home parks, with institutional investors accounting for 23% of all manufactured home purchases in 2020 and 2021, compared to 13% between 2017 and 2019.
• The private equity business model in manufactured housing relies on the limited mobility of residents to increase rents and fees, which increases the property's value for a subsequent profitable sale.
• Manufactured housing is a critical source of affordable housing for low-income and elderly populations, with 31% of adult residents being over 60 as of 2022, and over half of owners earning less than $50,000 annually.
• Corporate owners have been linked to severe maintenance failures and predatory financial practices, including painting over mold at Yes! Communities, failing to provide adequate water at Riverstone Communities, and implementing 'rent-to-own' schemes.
• PESP supports specific 2025-2027 Duty to Serve objectives, including the purchase of loans for communities owned by nonprofits, government entities, or residents, and the implementation of Tenant Site Lease Protections (TSLPs).

APA

Private Equity Stakeholder Project (2024). Request for Input (RFI) on Fannie Mae and Freddie Mac (the “Enterprises”) Proposed 2025 -2027 Duty to Serve Plans (the “DTS Plans）. https://pestakeholder.org/wp-content/uploads/2024/09/8-12-24-PESP-Comment-Letter-re-GSE-Duty-to-Serve-Plans-3.pdf

Chicago

Private Equity Stakeholder Project. Request for Input (RFI) on Fannie Mae and Freddie Mac (the “Enterprises”) Proposed 2025 -2027 Duty to Serve Plans (the “DTS Plans）. 2024. https://pestakeholder.org/wp-content/uploads/2024/09/8-12-24-PESP-Comment-Letter-re-GSE-Duty-to-Serve-Plans-3.pdf.

Wikipedia

{{cite press release |author=Private Equity Stakeholder Project |title=Request for Input (RFI) on Fannie Mae and Freddie Mac (the “Enterprises”) Proposed 2025 -2027 Duty to Serve Plans (the “DTS Plans） |date=12 August 2024 |url=https://pestakeholder.org/wp-content/uploads/2024/09/8-12-24-PESP-Comment-Letter-re-GSE-Duty-to-Serve-Plans-3.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{privateequitystakeholderproject2024request, author = {{Private Equity Stakeholder Project}}, title = {{Request for Input (RFI) on Fannie Mae and Freddie Mac (the “Enterprises”) Proposed 2025 -2027 Duty to Serve Plans (the “DTS Plans）}}, publisher = {Private Equity Stakeholder Project}, year = {2024}, month = aug, url = {https://pestakeholder.org/wp-content/uploads/2024/09/8-12-24-PESP-Comment-Letter-re-GSE-Duty-to-Serve-Plans-3.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }