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Fannie, Freddie to Start Paying Into Low-Income Housing Fund

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Fannie Mae and Freddie Mac will start making payments that could total hundreds of millions of dollars annually into a fund for affordable housing.

Melvin L. Watt, who oversees the companies as director of the Federal Housing Finance Agency, instructed them today to start setting aside a portion of their revenue for the National Affordable Housing Trust Fund, the only source of U.S. housing money earmarked for the lowest-income families.