FHFA Authorizes Record Allocations for Affordable Housing to HTF, CMF
The Federal Housing Finance Agency (FHFA) today announced the authorization of more than $1 billion in affordable housing allocations to Fannie Mae and Freddie Mac, the largest disbursement in history. Of the provided funds to Fannie and Freddie, the U.S. Department of Housing and Urban Development’s (HUD’s) Housing Trust Fund (HTF) will receive $711 million and the Department of the Treasury’s Capital Magnet Fund (CMF) will receive $383 million. The HTF allocates money to states and state-designated entities for the production or preservation of affordable housing. The CMF competitively awards money to finance affordable housing activities and related economic development activities and community service facilities.
The HTF, CMF and other federal programs will be discussed at the Novogradac 2021 Affordable Housing Virtual Conference, April 29-30.