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GSE Reform: A New Affordable Housing Fund (CRS Report for Congress)

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Release Date Revised Jan. 5, 2007
Report Number RS22336
Report Type Report
Authors N. Eric Weiss, Government and Finance Division
Source Agency Congressional Research Service
Older Revisions
  • Premium   Nov. 28, 2005 (6 pages, $24.95) add
Summary:

One key feature of the government-sponsored enterprise (GSE) reform bill that theHouse passed in the 109th Congress (H.R. 1461) was the requirement that Fannie Maeand Freddie Mac give part of their profits to create new affordable housing funds. Basedon the GSE's average profits from 2000 to 2003, the amount would have been about$390 million annually during the first two years and $580 million in subsequent years.The requirement would have expired after five years.The chairmen of the House Financial Services Committee and the Senate BankingCommittee have said that GSE reform, including an affordable housing fund, will be apriority in the 110th Congress.