January 13, 2010
NCSHA today announced that the U.S. Department of Treasury has purchased $13.9 billion in housing bonds from 50 of its state Housing Finance Agency (HFA) members under the Obama Administration’s HFA Initiative, unveiled October 19.
“These bond proceeds, combined with the $7.7 billion in retail housing bonds the Initiative requires state HFAs to issue, will allow HFAs to finance more than 200,000 affordable homes, while generating jobs and tax revenue for the economy,” said Susan Dewey, president of NCSHA and executive director of the Virginia Housing Development Authority. “HFAs are already putting these resources to work to provide first-time home buyer mortgages and finance rental housing,” Dewey added.
Read NCSHA’s entire press release.
Read the joint statement issued by Treasury, HUD, and FHFA on this milestone.
For background information on the Initiative and what it means for HFAs, visit NCSHA's clearinghouse on the HFA Initiative.
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