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The Federal Housing Finance Agency (FHFA) recently announced that Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs), will be allowed limited re-entry into the LIHTC market as equity investors, effective immediately.
The GSEs have been absent from the LIHTC market since September 2008 when they were placed into government conservatorship. Prior to the financial crisis, the GSEs provided roughly 40 percent of annual equity investments in LIHTC sites.