Fannie Mae’s and Freddie Mac’s recently-released Securities and Exchange Commission 10-K filings for 2016 show that both single family and multifamily volume has increased from 2015, which is good news for the Housing Trust Fund (HTF) and Capital Magnet Fund (CMF). 

The Housing and Economic Recovery Act (HERA) of 2008 requires housing government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to contribute to the HTF and the CMF based on 4.2 basis points of annual new business purchases, and allocations from 2016 were transferred to the U.S. Department of Housing and Urban Development (HUD) for HTF and Treasury Department for CMF by March 1.  In the coming weeks, HUD will distribute the funding according to the HTF formula to the 50 states, Washington, D.C. and U.S. territories. In 2016, HUD distributed $174 million in HTF funding to states...

Read more here


Make Headlines

Send us your CDFI news by email, or by tweet to @OppFinance.


Get updates on the latest CDFI news and information! View an archive of OFN's Blog Digest newsletter HERE.

Related Articles