As the White House seeks to lower costs ahead of the midterms, housing lenders and state agencies are raising concerns that administration officials could soon wind down a program that has so far helped finance more than 56,000 affordable rentals at no cost to taxpayers.

The FFB Risk-Sharing Program, which agencies across 34 states use to lower borrowing costs at “a net revenue gain for the Treasury,” is “precisely the kind of program a fiscally serious administration should want to preserve,” the National Association of Affordable Housing Lenders wrote to the administration in a letter signed by more than a dozen other groups and shared first with Semafor.

Instead, the White House’s fiscal 2027 budget “projects no new commitments” for the program, the groups write, warning that already, state housing agencies “are being turned away.”

“Given the severity of the housing shortage, the Trump administration should not only restore access to the program but also expand its reach,” NAAHL’s Sarah Brundage told Semafor.

The Departments of Treasury and Housing and Urban Development and the Office of Management and Budget did not respond to requests for comment.