The New GSE Affordable Housing Funds: The Housing Trust Fund and the Capital Magnet Fund Page: 3 of 18
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Contents
Introduction ...................................................... 1
Background on Affordable Housing Trust Funds ......................... 1
Government-Sponsored Enterprises ............................... 2
GSE Affordable Housing Obligations .......................... 3
The Housing and Economic Recovery Act (P.L. 110-289) .............. 3
The New Affordable Housing Funds ................................. 4
Contributions to GSE Affordable Housing Funds ..................... 4
H ousing Trust Fund ............................................6
Capital Magnet Fund ......................................... 7
Restrictions on Use ........................................... 8
Restriction on Eligible Activities .............................. 8
Restrictions on Sub-Recipients ............................... 8
Requirements and Oversight ................................. 9
Issues Surrounding GSE Contributions to the Affordable Housing Funds ...... 9
Why Should the GSEs Support an Affordable Housing Fund? ........... 9
Current Issues ...............................................11
Financial Uncertainty ..................................... 11
Conservatorship ......................................... 12
Appendix 1. Legislative History of Housing Trust Fund Bills .............. 13
106th Congress ..........................................13
107th Congress ..........................................13
108th Congress ..........................................13
109th Congress ..........................................14
110th Congress ..........................................14
List of Figures
Figure 1. Phase-In of Funding for Affordable Housing Funds,
FY 2009-FY 2012 ..............................................5
Figure 2. Share of Affordable Housing Funds Going to the
Housing Trust Fund and the Capital Magnet Fund .................... 5
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Weiss, N. Eric & Jones, Katie. The New GSE Affordable Housing Funds: The Housing Trust Fund and the Capital Magnet Fund, report, November 25, 2008; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc805702/m1/3/: accessed May 5, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.