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FHFA Announces $545 Million to HTF, CMF for Affordable Housing Initiatives

Tuesday, February 28, 2023 - 2:15PM

The Federal Housing Finance Agency (FHFA) today announced that the Housing Trust Fund (HTF) and Capital Magnet Fund (CMF) will receive a combined $545 million for affordable housing initiatives this year. The funds will come from Fannie Mae and Freddie Mac. According to FHFA, the HTF will receive $354 million to be allocated to states and state-designated entities for the production or preservation of affordable housing. The CMF will receive $191 million for awards to affordable housing activities and related economic development activities and community service facilities. The funding comes from Fannie and Freddie’s new business purchases and due to 2022 market conditions, the amounts are significantly lower than last year’s totals, which were $740 million for HTF funding and $336.4 million for CMF awards.

The use of CMF and HTF funding, along with other gap financing, for affordable housing will be among the topics at the Novogradac 2023 Affordable Housing Conference, April 27-28 in San Francisco.

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