Housing Trust Fund & Capital Magnet Fund Receive $1.14 billion

On February 28, Federal Housing Finance Agency Acting Director Sandra Thompson announced the Housing Trust Fund (HTF) and Capital Magnet Fund (CMF) programs will collectively receive nearly $1.14 billion from Fannie Mae and Freddie Mac (the Government-Sponsored Enterprises, or GSEs) based on 2021 business activities. The HTF program, which is a HUD-overseen program that allocates annual funds to states and state-designated entities to support the production and preservation of affordable homes, will receive $740 million from the GSEs. The CMF program, which is part of Treasury’s CDFI Fund and offers competitively awarded grants to finance affordable housing and community revitalization in low-income communities, will receive $398 million from the GSEs. These amounts add up to year-over-year increases of $29 million and $15 million, respectively. These allocations mark the largest amounts ever provided to the HTF and CMF programs from the GSEs.

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