Last week, President Joe Biden announced that he is reviving the partnership between the Department of Treasury’s Federal Financing Bank (FFB) and the Department of Housing and Urban Development’s Risk Sharing Program.
The program provides low-cost capital in cooperation with state housing finance agencies for affordable housing development. HUD estimates 20,000 affordable housing units can be created or preserved in the next two years by reinstating the program. Read more from the White House press release here.