The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac will be allowed limited re-entry into the low-income  housing tax credit (LIHTC) market as equity investors. The change takes place immediately, with an annual investment limit of $500 million, which will be less than a 5 percent market share for each. Any investments above $300 million in a given year will be required to be in areas identified by FHFA as markets that have difficulty attracting investors. Fannie Mae and Freddie Mac have been absent from the LIHTC market since going into conservatorship in 2008.