April 05, 2019

Following Demands By Brown, FHFA Authorizes Funds for Housing Trust Fund and Capital Magnet Fund

Washington, D.C. – U.S. Senator Sherrod Brown – ranking member of the Senate Committee on Banking, Housing and Urban Affairs - released the following statement on FHFA’s decision to authorize payments to the Housing Trust Fund and the Capital Magnet Trust Fund. Last week, during hearings on Chairman Crapo’s Housing Finance Reform Outline, Sen. Brown questioned why FHFA inexplicably delayed the release of these critical affordable housing funds.

“There is an affordable housing crisis in America.  It is unacceptable that FHFA delayed the release of this year’s funds for the Housing Trust Fund and Capital Magnet Fund,” said Brown.  “I expect the Administration to quickly disburse these funds so that they can be put to use creating and preserving affordable housing.”