Fannie Mae Issues $10 Million to Help Address America’s Affordable Housing Crisis

Fannie Mae (FNMA/OTC) announced the launch of its Sustainable Communities Innovation Challenge (The Challenge). The company will commit $10 million over two years to attract promising ideas that will help it address the nation’s affordable housing issues. The company expects to receive proposals from across the public, private, and nonprofit sectors. Fannie Mae is seeking proposals to effectively increase access to sustainable communities that Fannie Mae, working with other industry stakeholders, can ultimately scale.

The Challenge is a responsible way for Fannie Mae to uncover and explore innovative solutions to help address the affordable housing crisis in America.” said Jeffery Hayward, Executive Vice President and Head of Multifamily, Fannie Mae.

The Challenge is part of Fannie Mae’s corporate-wide initiative, Sustainable Communities Partnership and Innovation. The initiative focuses on developing collaborative, cross-sector approaches to advancing sustainable communities – safe, stable, and thriving communities that provide residents with integrated access to quality affordable housing and opportunities for employment, health and wellness, and education.