• February 25, 2015

    A strong secondary market is an essential component of our country’s housing finance system that must be preserved and fortified to ensure the widespread availability of and ready access to mortgage capital. Federal government support of the secondary market is necessary to ensure the constant and stable flow of capital to all housing markets at all times, including periods of economic downturn.

  • February 25, 2015

    The Housing Trust Fund (Trust Fund) is a permanent federal fund authorized by the Housing and Economic Recovery Act of 2008 (HERA). It provides grants to States to increase and preserve the supply of rental housing for extremely low- and very low‐income families, including homeless families, and to increase homeownership for extremely low- and very low‐income families.

  • February 25, 2015

    Project-based Section 8 rental assistance (PBRA) contracts provide subsidies for affordable multifamily rental developments to lower rental costs for low-income families and to help offset construction, rehabilitation, and preservation costs. PBRA makes up the difference between market rents and what low-income tenants can afford, based on paying 30 percent of household income for rent.

  • February 25, 2015

    Congress established the FHA-HFA Risk-Sharing program in 1992 to increase and speed up FHA’s multifamily mortgage production. The FHA-HFA Risk-Sharing program allows state Housing Finance Agencies (HFAs) that meet rigorous financial standards to underwrite FHA multifamily loans in return for sharing the risk of losses on those loans.

  • February 25, 2015

    The voucher program is one of the federal government’s major housing programs helping low-income families find affordable housing. Eligible households use vouchers to help pay the rent on privately owned homes of their choosing.

  • February 25, 2015

    The Mortgage Revenue Bond (MRB) and tax-exempt multifamily housing bond programs (collectively, Housing Bonds) are financing tools used by state Housing Finance Agencies (HFAs) to finance low-interest mortgages for low- and moderate-income home buyers and to acquire, construct, and rehabilitate multifamily housing for low-income renters

  • February 25, 2015

    Housing Bonds address a critical public need. Housing Bonds—including multifamily housing bonds used to finance rental housing production and the Mortgage Revenue Bond (MRB) program, which makes homeownership possible for first time lower-income home buyers— are essential to our efforts to help low- and moderate-income families find affordable housing. While Housing Bonds are issued under “private activity” bond authority, they clearly support the achievement of a vital public purpose.

  • February 25, 2015

    The Housing Credit is essential to addressing the housing affordability crisis. It is the principal source of financing for the development and preservation of rental housing affordable to low-income people, creating opportunities for the millions of families and individuals in our country today who otherwise pay an excessive portion of their income for housing, live in substandard and overcrowded conditions, or face homelessness.