BREAKING: Fannie & Freddie To Fund Housing Trust and Capital Magnet Funds

​​​The Federal Housing Finance Agency (FHFA) today directed Fannie Mae and Freddie Mac to begin setting aside and allocating funds to the Housing Trust Fund and the Capital Magnet Fund pursuant to the Housing and Economic Recovery Act of 2008 (HERA).   HERA authorized FHFA to temporarily suspend these allocations, and FHFA informed Fannie Mae and Freddie Mac of a temporary suspension on November 13, 2008.  In letters sent today (links below), FHFA notified Fannie Mae and Freddie Mac of the agency’s decision to reverse the temporary suspension.

Separately, FHFA sent to the Federal Register an Interim Final Rule to address the statutory requirement that the allocations may not result in transferring their expense to originators or other Enterprise counterparties.  The Interim Final rule is effective upon publication and has a 30-day comment period.

About Sean Carpenter

Sean Carpenter is the President and Chief Executive Officer of Shamrock Development Associates, Inc., Government Deal Funding, LLC and all of its affiliated companies. Shamrock is a full scale development, consulting, public relations, corporate marketing, and asset/ property management firm. His knowledge of public programs has brought him to teaching opportunities to share his insight throughout the United States.