WASHINGTON - The Obama administration is close to unveiling a three-pronged program to help state and local housing finance agencies, including a liquidity facility to support state HFA-issued variable rate demand obligations, a senior Department of Housing and Urban Development official will tell lawmakers this morning.

William Apgar - a senior adviser to HUD Secretary Shaun Donovan - who is to testify at a House Financial Services Committee hearing on four municipal bond bills, will say that "detailed guidance" on the HFA assistance "should be available in the near term," according to prepared testimony released yesterday.

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