NAAHL Applauds Introduction of the AFFORD Act

Community Development Financial Institutions
Written By National Association of Affordable Housing Lenders

Today, Senators Steve Daines (R-MT) and Mark Warner (D-VA) introduced the Access to Fair Financing for Opportunity and Resilient Development (AFFORD) Act, which combines several bills that would strengthen community development finance.

“Community development financial institutions are force multipliers that work on the ground to boost housing supply and affordability,” said Sarah Brundage, NAAHL President & CEO. “I want to thank Senators Daines and Warner for their leadership advancing this critical legislation that would enable greater levels of lending and investing in neighborhoods across the country.”

 AFFORD Act would:

  • Require annual testimony from the Treasury on the operations of the CDFI Fund;

  • Extend the authorization of the CDFI Bond Guarantee program and expand access to this source of long-term financing;

  • Support a secondary market and other facilities to create liquidity for CDFI loans, freeing up resources for CDFIs to extend more affordable credit; and

  • Expand a partnership between USDA and Native CDFIs that expands access to homeownership for Native homebuyers.

NAAHL issued a public letter of support for the legislation urging members of Congress to quickly pass the AFFORD Act to increase investment in affordable housing and in communities across the country.

Read the press release here.

read the full letter here
National Association of Affordable Housing Lenders

NAAHL is the only national alliance of banks, CDFIs, and other capital providers dedicated to expanding economic opportunity by financing affordable housing and neighborhood revitalization. NAAHL has worked to advance responsible community reinvestment, fight predatory lending, and strengthen public-private partnerships.

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