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This study also addresses Duty to Serve. Driven by the Housing and Economic Recovery Act (HERA) of 2008, in December 2016, the Federal Housing Finance Agency (FHFA) issued the Duty to Serve Underserved Markets rule. It directs Fannie Mae and Freddie Mac to improve access to mortgage financing for those of modest means in three housing markets posing persistent challenges and significant opportunities: manufactured housing, rural housing, and affordable housing preservation. The affordable housing preservation market includes shared equity programs, which provide access to homeownership for low- and moderate -income households. Shared equity programs are often run by government or nonprofit organizations for the express purpose of providing homeownership opportunities for lower-income families at prices substantially lower than otherwise available in a market and then keeping those homes affordable for future buyers through resale restrictions. Inclusionary housing programs are a primary source of new inventory for shared equity programs. As a component of itsUndersery&dt Plan for affordable housing in the single-family segment, Fannie Mae has sought to increase its mortgage purchase activity for loans to buyers in shared equity programs. This study identified 3141H programs that appear to meet the Duty to Serve definition for shared equity programs. In addition to single-family shared equity programs, inclusionary housing programs forthe preservation or creation of multifamily rental properties may qualify for credit under Fannie Mae's activity "Other Comparable State or Local Affordable Housing Programs." This study identified 180 IH programs that appearto meet all criteria, indicating that they meet the Duty to Serve criteria for state and local programs. Fannie Mae has sought to increase its mortgage purchase activity for loans to buyers in shared equity programs. There remains a big gap in the literature in unveiling the administrative practices of 1H programs. Only about one-third of local governments partnered with external agencies to manage IH programs, and the study finds that many programs report either not having a tracking system in place or not knowing if such a system exists. Ultimately, inclusionary housing programs must track the units they have produced and preserve them in orderto maintain affordable housing opportunities for members of their community.