ADMINISTRATION RELEASES HOUSING FINANCE REFORM PROPOSAL
The Obama Administration today delivered a report to Congress proposing a plan to reform the housing finance market. The proposal would gradually reduce Fannie Mae and Freddie Mac’s role in the market and ultimately wind down both institutions, which the administration says would create the conditions for private capital to play the predominant role in housing finance. The report also stresses a commitment to affordable rental housing and calls for a dedicated funding source for affordability efforts. Additional information is available on the GSE Reform page.
Tune in to the February 15 Tax Credit Tuesday podcast to hear more about the plan and what it means for the affordable housing community. More information on the subject can also be found in this month’s Journal of Tax Credits.