U. S. Housing and Urban Development Secretary Shaun Donovan, noting that a housing trust fund needs to be established that supports $5 billion in affordable housing production a year, says the congressional GSE (government-supported enterprise) reform legislation that eventually eliminates Fannie Mae and Freddie Mac needs to include such a fund. MHProNews.com has learned at a National Association of Hispanic Real Estate Professionals meeting in Washington, Donovan said a new housing finance system “requires an expansion of the housing trust fund and the capital magnet fund so that the new system explicitly supports more affordable housing initiatives.” ##

(Photo credit: Wikipedia–HUD Secretary Shaun Donovan)