Fannie Mae has boosted its cap for investment in the Low-Income Housing Tax Credit (LIHTC) to $850 million annually from the $500 million set in 2017 when it returned to that market.
In making the move, Fannie Mae said it was done to complement the lender's affordable housing mission in increasing and improving affordable housing stock and help markets most in need of support.
Since the restart, Fannie's $1.8 billion worth of commitments in LIHTC have helped the program create and preserve thousands of units, accounting for a majority of all affordable rental housing.
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