FHFA Releases Fannie, Freddie Allocations to HTF, CMF
Joseph Otting, acting director of the Federal Housing Finance Agency, today announced that he has authorized the transfer of affordable housing allocations from Fannie Mae and Freddie Mac to the U.S. Department of Housing and Urban Development (HUD) for the National Housing Trust Fund (HTF) and the Community Development Financial Institutions (CDFI) Fund for the Capital Magnet Fund (CMF). The HTF will receive $244.9 million and the CMF will receive $131.8 million. Fannie and Freddie are required by the Housing and Economic Recovery Act of 2008 to contribute to the HTF and CMF. HUD will distribute the HTF funding to the 50 states, the District of Columbia and U.S. territories, and the CDFI Fund will hold a national competition among affordable housing developers and CDFIs for CMF funding.
Learn more about affordable housing and community development resources at the Novogradac 2019 Affordable Housing Conference, May 2-3, in San Francisco.