September 2, 2021

By Donna Kimura, Affordable Housing Finance

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The Biden administration announced a series of moves aimed at creating, preserving, or selling 100,000 affordable homes for homeowners and renters in the next three years.

The actions include relaunching the Federal Financing Bank (FFB) and restarting its support of the Federal Housing Administration (FHA) Section 542(c) Housing Finance Agency Risk-Sharing Program, which was suspended in 2019. The program will provide low-cost capital to spur development of rental housing in cooperation with state housing finance agencies (HFAs).