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FHFA announces record funding for affordable housing programs
The Federal Housing Finance Agency (FHFA) announced Monday that the Housing Trust Fund and Capital Management Fund would receive $1.138 billion from Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs). This represents the largest amount of funding provided to these programs by the GSEs to date.
"Addressing our nation's affordable housing crisis is critical to FHFA's mission," said FHFA Acting Director Sandra Thompson in a press release. "Today's announcement of record funding for additional housing production will help increase access to affordable, sustainable housing options."
NAFCU supports affordable housing and has advocated for the FHFA to explore programs that better address the homeownership gap. The association has recently discussed this topic directly with Thompson and has encouraged the FHFA to assist the GSEs in increasing opportunities to help underserved individuals purchase homes.