Senator Booker asked Mel Watt, who was sworn in as director of the FHFA, to begin contributions from Fannie and Freddie to the NHTF, in accordance with the Housing and Economic Recovery Act of 2008.
Mel Watt will be sworn in on January 6, and we are urging him to lift the suspension on the funding of the NHTF and the Capital Magnet Fund by Fannie Mae and Freddie Mac.
One of these reserve funds is for housing assistance that could include “assistance provided through the Housing Trust Fund.” It would also support rental assistance for working families.
NLIHC launched the United for Homes campaign in 2013 with the goal of gaining significant funding for the NHTF through changes to the mortgage interest deduction (MID).
One thing Mr. Watt can do right away is to require Fannie Mae and Freddie Mac ,to pay into the National Housing Trust Fund, which was created by Congress in 2008 but was never financed.