Housing Finance Agency Innovation Fund
Money for States Hit Hardest by Crisis
19
recipients$9.6B
promised$6.476B
actually invested, loaned, or spentXML
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This program was created to provide up to $7.6 billion to fund "innovative measures" to help families in the states that were hardest hit by the aftermath of the burst of the housing bubble.
Initially in 2010, ten states received a total of $2.1 billion for plans targeted at steep home price declines and unemployment. Those states were California, Florida, Arizona, Michigan, Nevada, North Carolina, Ohio, Oregon, Rhode Island, and South Carolina.
In order to receive funds, each state's housing finance agencies had to submit plans to the Treasury Department for evaluation.
In August of 2010, the Treasury Department announced that another $2 billion would go to 17 states and Washington, D.C. for programs targeted at helping unemployed homeowners. All of the recipients are listed below.
The next month, the Treasury upped its commitment to $7.6 billion.
In 2016, the Treasury added another $2 billion in funding.
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The following list shows the 19 recipients of Housing Finance Agency Innovation Fund.