HUD's AH Proposal Was Lower Than OMB's

The Department of Housing and Urban Development originally proposed to raise the affordable housing goals for Fannie Mae and Freddie Mac to 52%, but after a review by the White House budget office, the AH goals were raised to 57%.As published in the Federal Register in late April, the proposed rule raises the current low- and moderate-income AH goal from 50% to 52% in 2005, 53% in 2006, 55% in 2007, and 57% in 2008. However, a review of the original proposal that HUD submitted to the Office of Management and Budget on Jan. 30 shows that HUD wanted to raise the AH goal to 52% in 2005 and keep it at 52% through 2008. The comment period on the proposal ends July 2. A coalition of housing groups, as well as organizations representing county and city officials, is urging HUD to extend the comment period for 60 days.