Industry News

Fannie, NAHB aim to expand ‘workforce housing’

Partnership will also address homeless, rural areas, tribal lands

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Fannie Mae, the nation's largest source of financing for home mortgages, joined its partners including the National Association of Home Builders on Thursday to launch a major "workforce housing" initiative that aims to help revitalize 1,000 communities across America by expanding the stock of affordable housing for working families. A key goal is to ensure that teachers, police officers, firefighters and other public servants can afford to own or rent in the communities that depend on them. Thursday's announcement, which is part of Fannie Mae's expanded American Dream Commitment plan, also includes a major initiative to help increase the availability of permanent supportive housing for people who are chronically homeless. In addition to the NAHB, Fannie Mae will work with mortgage lenders, mortgage insurers, nonprofit organizations, housing finance agencies, local government and many other partners, aiming to expand the supply of affordable housing across America. Fannie and the N...