Washington, D.C. – February 28, 2020 (nar.realtor) National Association of Realtors® President Vince Malta issued the following statement in response to reports that the Federal Housing Finance Agency – under the direction of Mark Calabria – allocated $502.2 million to the National Housing Trust Fund and the Capital Magnet Fund, marking the GSE’s largest-ever contribution to the federally-managed entities.

“NAR commends the Federal Housing Finance Agency for authorizing nearly half a billion dollars to address housing affordability challenges in America,” said Malta, broker at Malta & Co., Inc., in San Francisco. “In particular, we applaud Director Calabria for prioritizing the efficacy of the National Housing Trust Fund and the Capital Magnet Fund – this significant investment illustrates the agency’s commitment to increasing the inventory of supply-level homes.

“Initiatives that address the root of the nation’s housing affordability crisis must take center stage in discussions surrounding the future of housing finance. NAR looks forward to leading this discussion and working with the FHFA to ensure all responsible, credit-worthy individuals can achieve the American Dream of homeownership.”

The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.