FHFA Directs Fannie, Freddie to Start Funding Housing Trust, Capital Magnet Funds
On Dec. 11, 2014, Federal Housing Finance Agency (FHFA) Director Melvin L. Watt instructed Fannie Mae and Freddie Mac to begin setting aside and allocating funds for the Housing Trust Fund and the Capital Magnet Fund. Congress created the two funds in 2008 under the Housing and Economic Recovery Act of 2008 (HERA) to provide financing for the production and preservation of affordable housing. However, they have been empty since they were created six years ago due to Fannie Mae and Freddie Mac being placed into conservatorship.
Full Article Access:
Full access to complete articles from Tax Credit Housing Management Insider is for subscribers only.
- If you are a subscriber, Log In Now
- If you are interested in subscribing, Learn More
Not yet ready to subscribe?