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63 September 2024 J O U R N A L services provided by the VA. The VA provides these services for participating veterans at VA medical centers (VAMCs), community-based outreach clinics (CBOCs), through VA contractors, or other VA-designated entities. Since the program's inception, HUD- VASH has assisted more than 200,000 veterans to exit homelessness and obtain permanent affordable housing. "Every veteran deserves a roof over their head, and the Biden-Harris administration is doing everything we possibly can to end veteran homelessness," White House Domestic Policy Advisor Neera Tanden said. "Today's actions reflect President Biden and Vice President Harris' commitment to breaking down barriers to housing so that every veteran gets the benefits they have earned." The revised HUD-VASH operating requirements also include additional policy changes that will improve the administration of the HUD-VASH program. This will allow PHAs the authority to: » Make noncompetitive awards of project-based HUD-VASH contracts to housing projects or units on VA facilities that serve HUD-VASH families; » Approve exception payment standards as a reasonable accommodation up to 140% of the fair market rent; and » Set a separate minimum rent policy (including a zero minimum rent) for HUD-VASH participants. Additional Assistance to Vets In addition to these policy changes, HUD has awarded $20 million available for additional administrative fee funding to 245 public housing agencies in 43 states currently administering HUD-VASH. With this funding, PHAs are encouraged to expand their housing search assistance to support veterans, expand landlord re- cruitment for the program, offer incentives and retention payments, help veterans with security deposits, and provide land- lord-tenant mediation activities. FANNIE AND FREDDIE POST STRONG Q2 RESULTS B oth government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, have reported their second-quarter financials, as both continue to provide liquidity to the hous- ing market, assisting the nation with the purchase, refinance, and rental of homes. Fannie Mae reported $4.5 billion in net income for the second quarter of 2024, with its net worth reaching $86.5 billion as of June 30, 2024. In Q1, Fannie Mae reported $4.3 billion in net income, with net worth reaching $82.0 billion. Freddie Mac reported its Q2 net income at $2.8 billion, a decrease of 6% year over year, primarily driven by a credit reserve build in the current period compared to a credit reserve release in the prior year period, partially offset by higher net revenues. In Q1, Freddie Mac reported a net income of $2.8 billion, an increase of 39% year over year, primarily driven by higher net revenues. "Fannie Mae had another strong quarter, generating $4.5 billion in net income," said Priscilla Almodovar, President & CEO of Fannie Mae. "Our net worth reached $86.5 billion, further strengthening our financial stability, and our capital position continued to improve. This quarter, we provided $95 billion in liquidity to the housing market, helping 330,000 households buy, refinance, or rent a home. Half of our single-family purchase acquisitions this quarter were loans made to first-time homebuyers, demonstrating that today's housing affordability pressures have not changed the desire to own a home. That's why managing risk and partnering with the industry to help consumers on their housing journeys remain top priorities." Michael T. Hutchins, President and Interim CEO of Freddie Mac said, "Today's actions reflect President Biden and Vice President Harris' commitment to breaking down barriers to housing so that every veteran gets the benefits they have earned." —Neera Tanden, White House Domestic Policy Advisor