In 2008 Congress created the National Housing Trust Fund as part of the Housing and Economic Recovery Act. The National Housing Trust Fund is the first new federal housing production program since the HOME program was created in 1990 and the first new production program specifically targeted extremely low-income (ELI) households since the Section 8 program was created in 1974. This legislation identified contributions from Fannie Mae and Freddie Mac as initial funding sources; however, before any contributions could be made, these GSEs were taken into federal conservatorship, and funding has not yet been secured.
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Edited By | Saba Bilquis |