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December 12, 2014: Federal Housing Finance Agency Funds the Housing Trust Fund and Capital Magnet Fund.

On December 11, 2014 Director Mel Watt of the Federal Housing Finance Agency (FHFA) directed Fannie Mae and Freddie Mac to allocate funds to the Housing Trust and Capital Magnet Fund as required by the Housing and Economic Recovery Act of 2008. An estimated $350 to $500 million will be allocated to the Housing Trust and Capital Magnet fund in its first year. Our colleagues at the National Low-Income Housing Coalition have fearlessly and tirelessly led this effort to its victory. The Housing Trust was created to provide funds to build, preserve, and rehabilitate rental homes for extremely low-income households. Follow the links to read the FHFA’s statement, its letter to Fannie Mae, and its letter to Freddie Mac.

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