WASHINGTON, DC —The National Housing Conference’s (NHC) President and CEO David M. Dworkin released the following statement in response to new actions announced by President Biden to boost housing supply and lower housing costs:
“The National Housing Conference (NHC) commends the Biden Administration for indefinitely extending the Federal Financing Bank (FFB) Risk Sharing Program. This joint U.S. Department of Housing and Urban Development and Treasury program was created in 2015 to close a funding gap in the private markets and stimulate greater affordable housing production. FFB funding is an excellent source for state and local housing finance agencies (HFAs) to access long-term, fixed-rate financing to construct and preserve affordable multifamily rental housing.
Since its inception, the FFB Risk Sharing Program has closed or committed $4.9 billion for 42,000 apartments. With the program’s reinstatement in 2021 and now indefinite extension, it will ensure continued access to funds for HFAs to facilitate the creation of new affordable housing units.
NHC strongly supports the permanent extension of the FFB Risk Sharing Program and we look forward to working with HUD and the Treasury to further capitalize on its success.”
###
About the National Housing Conference (NHC): Founded in 1931, the National Housing Conference is the oldest and broadest housing coalition in America. NHC is a diverse continuum of affordable housing stakeholders who convene and collaborate through dialogue, advocacy, research, and education, to develop equitable solutions that serve our common interest—an America where everyone is able to live in a quality, affordable home in a thriving community. Politically diverse and nonpartisan, NHC is a 501(c)3 nonprofit organization. To learn more about NHC, visit www.nhc.org.