JOHNSON STATEMENT ON FHFA ANNOUNCEMENT TO FUND HOUSING TRUST FUND AND CAPITAL MAGNET FUND

WASHINGTON, D.C. – December 12, 2014 – (RealEstateRama) — Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement regarding today’s announcement by the Federal Housing Finance Agency to direct Fannie Mae and Freddie Mac to allocate funding for the Housing Trust Fund and the Capital Magnet Fund.

“Today’s announcement by the Federal Housing Finance Agency to fund the Housing Trust Fund and the Capital Magnet Fund is good news for millions of Americans seeking affordable and permanent housing. These Funds have received bipartisan support since first being authorized in 2008, and will help address the challenges facing states, non-profit organizations, and the housing industry as they seek to build and maintain housing that is within reach of working families, the elderly, and our veterans. I applaud Director Mel Watt for his leadership on this issue and continued dedication to improving housing opportunities for low-income families across our nation.”