Number: RS22336
Title: GSE Reform: A New Affordable Housing Fund
Authors: N. Eric Weiss, Government and Finance Division 
Abstract: One key feature of the government-sponsored enterprise (GSE) reform bill that the House passed in the 109th Congress (H.R. 1461) was the requirement that Fannie Mae and Freddie Mac give part of their profits to create new affordable housing funds. Based on 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 Banking Committee have said that GSE reform, including an affordable housing fund, will be a priority in the 110th Congress.
Pages: 6
Date: January 5, 2007