The House Financial Services Committee gave affordable housing an extra boost by requiring Fannie Mae and Freddie Mac to fund affordable housing initiatives that would supplement their annual affordable housing goals. The funding provision is in H.R. 1461, the “Federal Housing Finance Reform Act of 2005,” which the committee approved last week on a 65 to 5 vote. The bill also established a new agency, the Federal Housing Finance Agency, to regulate Fannie Mae, Freddie