The Federal Housing Finance Agency (FHFA) announced the authorization of more than $1 billion in affordable housing allocations to Fannie Mae and Freddie Mac, the largest disbursement in history. HUD’s National Housing Trust Fund (NHTF) will receive $711 million and the Department of the Treasury’s Capital Magnet Fund (CMF) will receive $383 million. The HTF allocates money to states and state-designated entities for the production or preservation of affordable housing. The CMF competitively awards money to finance affordable housing activities and related economic development activities and community service facilities.