The U.S. Department of Housing and Urban Development and the FHFA have announced that they are entering into a collaborative agreement regarding fair housing and fair lending coordination.

In a memorandum of understanding, the two agencies said they will focus on enhancing their enforcement of the Fair Housing Act — which HUD is primarily charged with administering and enforcing — and their oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks, all of which FHFA regulates, according to a joint statement from HUD and FHFA.

The agencies stated that the agreement is an important mechanism that strengthens the agencies’ ability to enforce fair housing and fair lending requirements, by promoting information sharing, coordination on investigations, compliance reviews and the ongoing monitoring of Fannie Mae and Freddie Mac.

The agencies also anticipate that the agreement “will lead to stronger oversight that will help advance vigorous fair housing enforcement that can begin to redress our nation’s history of discriminatory housing practices.”