National Association of Affordable Housing Lenders (NAAHL)

Statement from National Association of Affordable Housing Lenders (NAAHL) on March 14 Executive Order Aiming to Reduce Scope of CDFI Fund: On Friday, March 14, an Executive Order titled “Continuing the Reduction of the Federal Bureaucracy” directed the elimination of “the non-statutory components and functions” of several governmental entities, including the Community Development Financial Institutions Fund (CDFI Fund). The CDFI Fund is an office within the Treasury Department that supports the growth and capacity of a national network of community development lenders, investors, and financial service providers. NAAHL would like to emphasize that the CDFI Fund’s operations are statutory, as they are authorized through various statutes: the Riegle Act, the Community Renewal Tax Relief Act, the Housing and Economic Recovery Act, and the Small Business Jobs Act, with operations funded through Congressional appropriations. Additionally, the CDFI Fund enjoys widespread bipartisan support from current and former Treasury Secretaries and elected officials across party lines. CDFIs act as a multiplier of public capital, leveraging $8 in private sector investment for every $1 of public funding. The CDFI Fund is essential to the public-private partnership model that drives investments to communities across America — building homes, fostering small business growth, creating jobs, rebuilding communities after disasters, and boosting Main Street economies. NAAHL applauds Senators Crapo and Warner for their bipartisan leadership and notes that the Community Development Finance Caucus — a group of 14 Democrats and 14 Republicans — has publicly reaffirmed Congress’ bipartisan commitment to supporting the CDFI Fund’s mission. As Americans confront an urgent need for affordable housing, we must not undermine the tools at our disposal. Now is the time to strengthen and expand our ability to serve more communities and hardworking families, and CDFIs have and will continue to play an essential role in meeting this moment. https://lnkd.in/erqV9eQ6

Watch the recap of our recent #NAAHLMemberSpotlight webinar, featuring Citi and Phipps Houses, the largest and oldest not-for-profit developer, owner, and manager of affordable housing in New York City! The conversation explored how Citi finances and facilitates affordable housing projects in collaboration with nonprofits and CDFIs. https://lnkd.in/eRg-Btuj

?? NEW Special Report from NAAHL ?? ?? Dig into the role our federal government plays in meeting the housing needs of American families – and the economic and human impacts of weakening its capabilities. ?? Cuts to funding and staff for federal agencies that administer housing programs, along with the cancellation of related contracts, would severely reduce affordable housing options and critical community services, and harm millions of low-income families, seniors, people with disabilities, and first-time homebuyers who rely on federal housing programs. ??? Efforts to expand our nation’s housing supply would be significantly impeded by cuts to financing for new construction and rehabilitation projects, worsening the nationwide affordable housing shortage. Homelessness would likely increase as rental assistance programs are reduced and emergency housing services become more limited. These disruptions would ripple through the broader economy, reducing construction activity, limiting job creation, and potentially destabilizing housing finance markets that depend on the certainty and liquidity provided by federal programs. Read more:

My response to recent reports on anticipated cuts to HUD: "As the only national association devoted to bringing together private capital providers, nonprofit lenders, and policymakers to finance affordable housing and community development, NAAHL understands the value of strong federal partners, including HUD. The message from the American people has been clear: housing affordability is a top priority. In order to build and preserve enough affordable homes for renters and homeowners, we need strong private and nonprofit sector solutions and a collaborative, functioning government. Many HUD programs and the civil servants who administer them are essential to deals penciling out, creating jobs, generating tax revenue, and ultimately providing stable housing and economic opportunity for families. Now more than ever, we must recommit to our shared values of serving the American people including meeting their housing needs." https://lnkd.in/e4_G6xMB

?? NAAHL President and CEO Sarah Brundage's statement on anticipated cuts at HUD: "As the only national association devoted to bringing together private capital providers, nonprofit lenders, and policymakers to finance affordable housing and community development, NAAHL understands the value of strong federal partners, including HUD. The message from the American people has been clear: housing affordability is a top priority. In order to build and preserve enough affordable homes for renters and homeowners, we need strong private and nonprofit sector solutions and a collaborative, functioning government. Many HUD programs and the civil servants who administer them are essential to deals penciling out, creating jobs, generating tax revenue, and ultimately providing stable housing and economic opportunity for families. Now more than ever, we must recommit to our shared values of serving the American people including meeting their housing needs." Read: https://lnkd.in/d92WnwtE

NAAHL is excited to kick off our new Member Spotlight webinar series where we will highlight our members, explore their investments in affordable housing, share key takeaways from housing development projects, and discuss how to stay connected. ? Our first webinar will feature NAAHL Sustaining Member Citi, who will share how Citi prioritizes affordable housing projects in partnership with non-profits and CDFIs. Attendees can learn about Citi's current housing developments and discover opportunities for future collaboration. ? This webinar is open to all! Share this opportunity with non-profits who might be interested & register today at: https://lnkd.in/eK4hmfYg

Today, we reflect on the profound impact of Dr. Martin Luther King, Jr. in the fight for equality—especially in housing. Dr. King’s leadership and advocacy were instrumental in pushing for the passage of the Fair Housing Act of 1968, a critical milestone in ensuring that everyone, regardless of race, color, religion, or national origin, has the right to access fair, affordable housing. This legislation continues to serve as a foundation for addressing housing discrimination and promoting equity in communities across the U.S. As we honor Dr. King's legacy, it's a powerful reminder that affordable, equitable housing is a fundamental right that everyone in the nation deserves. We will continue to build on his vision by advancing policies that promote accessible housing and equitable community development for all. #FairHousing #AffordableHousing #HousingPolicy

2024 was a great year for affordable housing! Thank you @Crane for featuring NAAHL and the Neighborhood Homes Investment Act in your affordable housing finance replay!

Thank you to everyone that attended our 2024 Annual Policy & Practice Conference at the National Press Club. We’d also like to thank all our speakers for sharing their expertise! Your insights and contributions are invaluable in advancing innovations and investments in affordable housing and equitable community development for the nation. We're looking forward to continuing these important conversations at our 2025 conference! #NAAHLconference #affordablehousing?

Today is our highly anticipated 2024 Policy & Practice Conference at the National Press Club! There is much that will be discussed during this full day of thought-provoking and solution-oriented panels. We will close out the conference by honoring Senator Ben Cardin (D-MD) for his lifetime achievement and leadership on the Neighborhood Homes Investment Act! Receive conference highlights by following our Twitter account at @NAAHLDC.?