NLIHC Sends Letter to FHFA Acting Director Calling for Release of HTF Funds

NLIHC President and CEO Diane Yentel sent a letter on behalf of the national Housing Trust Fund (HTF) campaign to Federal Housing Finance Agency (FHFA) Acting Director Joseph Otting expressing concerns that the 2018 HTF annual allocations have not yet been transferred to HUD. These allocations have typically been transferred within 60 days from the end of the calendar year. The letter provided a list of the more than 1,900 local, state, and national organizations that have endorsed the HTF campaign.

The HTF is the first new housing resource since 1974 targeted to building, rehabilitating, preserving, and operating rental housing for extremely low-income people and is a crucial resource for addressing the nation’s dire shortage of affordable housing. The HTF and the Capital Magnet Fund are funded through a small annual assessment on Fannie Mae’s and Freddie Mac’s books of business. The letter reads, “FHFA is obligated by law to transfer Fannie Mae’s and Freddie Mac’s 2018 annual Housing Trust Fund allocations totaling $245 million to HUD. We urge you to do so as quickly as possible to allow states and communities to address the housing needs of their most vulnerable residents. Millions of the lowest income seniors, people with disabilities, families with children, veterans, people experiencing homelessness, and other individuals are in desperate need of safe, decent and affordable homes.”

Read the letter at: