12 CFR § 1282.35 - Rural markets.

---
identifier: "/us/cfr/t12/s1282.35"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 1282.35 - Rural markets."
title_number: 12
title_name: "Banks and Banking"
section_number: "1282.35"
section_name: "Rural markets."
chapter_name: "FEDERAL HOUSING FINANCE AGENCY"
subchapter_number: "E"
subchapter_name: "HOUSING GOALS AND MISSION"
part_number: "1282"
part_name: "ENTERPRISE HOUSING GOALS AND MISSION"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 4501, 4502, 4511, 4513, 4526, 4561-4566."
regulatory_source: "75 FR 55930, Sept. 14, 2010, unless otherwise noted."
cfr_part: "1282"
---


# 1282.35 Rural markets.

(a) *Duty in general.* Each Enterprise must develop loan products and flexible underwriting guidelines to facilitate a secondary market for eligible mortgages on housing for very low-, low-, and moderate-income families in rural areas. Enterprise activities under this section must serve each such income group in the year for which the Enterprise is evaluated and rated.

(b) *Eligible activities.* Enterprise activities eligible to be included in an Underserved Markets Plan for the rural market are activities that facilitate a secondary market for mortgages on residential properties for very low-,low-, or moderate-income families in rural areas.

(c) *Regulatory Activities.* Enterprise activities related to the following are eligible to receive duty to serve credit under the rural market:

(1) *High-needs rural regions.* Housing in high-needs rural regions;

(2) *High-needs rural populations.* Housing for high-needs rural populations;

(3) *Financing by small financial institutions of rural housing.* Financing by a small financial institution of housing in a rural area; and

(4) *Small multifamily rental properties in rural areas.* Small multifamily rental properties that are located in a rural area.

(d) *Additional Activities.* An Enterprise may include in its Plan other activities to serve very low-, low-, or moderate-income families in rural areas consistent with paragraph (b) of this section, subject to FHFA determination of whether the activities are eligible to receive duty to serve credit.