Senators Jack Reed (D-RI) and Susan Collins (R-ME) have called upon the Federal Housing Finance Agency (FHFA) to continue funding the national Housing Trust Fund (HTF) and Capital Magnet Fund (CMF) to help address the lack of affordable rental housing in America. The funds are capitalized through a small assessment (0.042%) on the books of business of Fannie Mae and Freddie Mac, which are regulated by the FHFA. The letter reminds Acting FHFA Director Joseph Otting that both funds were created on a strong bipartisan basis to address a critical lack of affordable housing in every state. To emphasize the nationwide reach of the affordable housing crisis, Senators Collins and Reed reference NLIHC’s research (The Gap: A Shortage of Affordable Homes) that finds no state has an adequate supply of rental housing for extremely low-income households. The senators’ letter can be read here.