WASHINGTON, D.C. – December 15, 2014 – (RealEstateRama) — Today, in response to the announcement by the Federal Housing Finance Agency (FHFA) that it would begin setting aside and allocating funds to the National Housing Trust Fund and Capital Magnet Fund, the National Community Reinvestment Coalition (NCRC)’s President and CEO John Taylor made the following statement:
“We applaud the FHFA for funding the Housing Trust Fund and Capital Magnet Fund. The Housing Trust Fund is sorely needed to help address the growing crisis facing low-income renters. This is the first of several steps the FHFA must take to make sure that Fannie Mae and Freddie Mac fulfill the public mission in their charters. We urge the FHFA to now adopt meaningful affordable housing goals to ensure broad access to mortgages for creditworthy borrowers.”
In October, NCRC called upon FHFA to strengthen its proposed affordable housing goals. NCRC has also long called upon FHFA to fund the Housing Trust Fund.
About the National Community Reinvestment Coalition (NCRC):
The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America’s working families.