In a letter to Federal Housing Finance Agency Director Mel Watt dated January 23, 2014, 33 Senators asked Mr. Watt to “end the suspension of contributions to the National Housing Trust Fund and Capital Magnet Fund.” The lead authors of the letter are Senators Jack Reed (D-RI), Barbara Boxer (D-CA), Bernie Sanders (I-VT), and Elizabeth Warren (D-MA). The other 27 Senators who signed the letter are Democrats.
The letter affirmed their support for mortgage finance reform, but the Senators agree that funding for affordable rental housing is needed now. They assert that “the time is long overdue to lift the current suspension.”
The position taken by the Senators who signed the letter is consistent with that of NLIHC and others that have urged Mr. Watt to reverse the decision of his predecessor, Acting Director Ed DeMarco, who declined to lift the suspension after Fannie Mae and Freddie Mac returned to profitability in 2012.
Read the letter at: http://bit.ly/1clty2z