Fannie, Freddie re-entering Low Income Housing Tax Credit market

Fannie Mae and Freddie Mac are re-entering the Low Income Housing Tax Credit market, which encourages investment in affordable housing. The federal program gives tax credits to qualified properties, which investors can take advantage of. “Few programs are as mutually beneficial as LIHTC,” said David Brickman, executive vice president and head of Freddie Mac Multifamily. “It incentivizes private investment in affordable housing, delivers much-needed cash equity to owners of affordable properties and, most importantly, encourages the development and preservation of critical affordable housing in underserved areas throughout the country.” [Housing Wire]