Capital Magnet Fund creates 'bang for the buck' in affordable housing [TheHill.com]

Samantha Sangenito 1/29/154:00 AM

Given the climate on Capitol Hill, it’s rare to find a program with all of the elements that traditionally engender bipartisan support: a program that spurs economic development and creates jobs, attracts private capital, quickly delivers impact in dozens of states, and makes housing more affordable for families, seniors and veterans.

So why is that Federal Housing Finance Agency Director Mel Watt is being called before the House Financial Services Committee where he is likely to be taken to task for resurrecting the Capital Magnet Fund (CMF)?

Federal funding for CMF and the National Housing Trust Fund (NHTF)—suspended when Fannie Mae and Freddie Mac were placed in conservatorship—not only helps meet our nation’s pressing need for affordable housing, but is a smart use of federal resources.

[For more of this story, written by Nancy O. Andrews, Don Hinkle-Brown, Joe Neri, and Terry Simonette, go to http://thehill.com/blogs/congr...bang-for-the-buck-in]

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