CMF News Briefs From HUD, Freddie Mac

HUD Allocates Nearly $700 Million for Affordable Housing
HUD on Tuesday announced it is allocating $689,565,492 through the nation’s Housing Trust Fund for affordable housing.

The Housing Trust Fund was launched in 2008 as an affordable housing production program to complement existing federal, state and local efforts to increase and preserve the supply of affordable housing for low- and extremely low-income households, including families experiencing homelessness.

Click here for a list of state allocations.

“This past year has reminded us just how important it is to have access to safe and stable housing. But too many Americans are struggling to keep or find an affordable home,” said HUD Secretary Marcia Fudge “We are excited to announce this historic funding allocation, which will enable states to expand and preserve affordable housing for our neighbors who need our support the most.”

The Housing Trust Fund is capitalized through contributions made by Fannie Mae and Freddie Mac. This year’s allocation is a significant increase in funding from last year’s $322,564,267 allocation. The program is specifically focused on housing for some of the most vulnerable populations.

Freddie Mac Prices $943 Million Multifamily K-Deal, K-F105

Freddie Mac, McLean, Va., priced a new offering of Structured Pass-Through K Certificates, that included a class of floating-rate bonds indexed to the Secured Overnight Financing Rate.

The GSE said it expects $943 million in K-F105 Certificates to settle on or about April 13, 2021. The certificates are backed by floating-rate multifamily mortgages with 10-year terms that are all SOFR-based.

J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC served as Co-Lead Managers and Joint Bookrunners. BofA Securities Inc., NatAlliance Securities LLC, Samuel A. Ramirez & Company Inc. and Wells Fargo Securities LLC were Co-Managers.