On February 6, 2026, the Federal Housing Finance Agency (FHFA) published a final rule repealing its Fair Lending, Fair Housing, and Equitable Housing Finance Plans regulation (part 1293).[1]
Adopted in May 2024, part 1293 codified the FHFA’s fair housing and fair lending oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks (together, the regulated entities). After publishing a notice of proposed rulemaking to repeal the regulation in July 2025, the FHFA determined that part 1293 is not “legally necessary,” and that the repeal of part 1293 aligns with several of the Trump administration’s stated priorities – including reducing overall regulatory burdens and ending federal support of diversity, equity and inclusion (DEI) programs and initiatives.
Overview of part 1293
Part 1293 created the Enterprise Equitable Housing Finance Plan (EHFP) program, which required Fannie Mae and Freddie Mac to adopt triennial plans to address racial and economic inequities in housing finance and home ownership. Fannie Mae and Freddie Mac were also required to collect borrower language preference and housing counseling information, and to develop and publish annual performance reports. As of this month, the regulation would have required the Federal Home Loan Banks to report on voluntary activities supporting underserved communities. It also imposes a fair housing/fair lending compliance certification obligation on the regulated entities.
The final rule – Repeal of part 1293
The final rule repeals the entirety of part 1293. According to the FHFA, the repeal aligns with President Donald Trump’s July 2025 Executive Order 14219, which mandated that federal agencies rescind regulations “inconsistent with law or certain Administration policies on how statutory authority should be administered.” In its final rule, the FHFA asserted that part 1293 was not legally necessary because FHFA, Fannie Mae, Freddie Mac and the Federal Home Loan Banks are already statutorily required to promote access to credit in underserved markets. Its repeal, therefore, removes unnecessary regulatory burdens, achieves cost savings and eliminates redundant statements about FHFA authority.
Looking ahead
Though part 1293 is repealed in its entirety, the FHFA highlighted that the regulated entities must still comply with applicable federal laws, such as the Fair Housing Act, the unfair or deceptive acts or practices (UDAP) prohibitions under the Federal Trade Commission Act, the fair housing provisions of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, and the Equal Credit Opportunity Act. Additionally, the regulated entities must abide by statutory and regulatory obligations governing affordable housing goals, serving underserved communities and providing funding to affordable housing funds.
The FHFA noted that, because fair lending supervisory oversight is often “overlapping” among federal regulators, it will continue to coordinate with the Department of Housing and Urban Development, the Consumer Financial Protection Bureau and the Department of Justice, as necessary.
The final rule goes into effect on March 8, 2026.