• December 15, 2014
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    On December 13, the Senate passed the FY 2015 omnibus appropriations bill, H.R. 83. The House approved the same bill on December 11 and the President is expected to sign the bill soon. The omnibus is a package of 11 FY 2015 spending bills, providing funding through the end of FY 2015 (September 30, 2015) for federal agencies, including HUD and the U.S. Department of Agriculture (USDA). Federally funded agencies have been operating under CRs since the fiscal year began on October 1.

  • December 11, 2014
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    This morning, the Federal Housing Finance Agency (FHFA) announced it is directing Government-Sponsored Enterprises Fannie Mae and Freddie Mac to begin setting aside and allocating funds to the Housing Trust Fund and the Capital Magnet Fund.

  • December 10, 2014
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    Last night, House appropriators unveiled the FY 2015 omnibus, a package of 11 new FY 2015 spending bills, including bills funding HUD and the U.S. Department of Agriculture (USDA) for the remainder of the fiscal year. We expect the House to vote on the legislation December 11, and Senate leaders indicate the Senate will vote on the House-passed bill soon thereafter.

  • December 4, 2014
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    Earlier today, HUD and the U.S. Department of Treasury announced a series of enhancements to several of the programs administered under the Obama Administration’s Making Home Affordable (MHA) initiative. MHA is a multi-agency effort designed to help struggling borrowers remain in their homes through loan modifications and other forms of financial assistance.

  • December 4, 2014
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    In its "Housing Credit Policies in 2014 that Promote Supportive Housing" report, CSH found that "virtually every Housing Credit agency fosters some form of supportive housing development through its Housing Credit program." For the report, which builds on the 2013 report, CSH examined 56 Qualified Action Plans (QAPs). The report defines supportive housing as "permanent housing with attached intensive services targeted to populations with special needs who struggle to retain stable housing without easy access to comprehensive supportive services."

  • December 4, 2014
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    Late yesterday, the House passed the Tax Increase Prevention Act of 2014 (H.R. 5771), which would extend for one year only, through 2014, a number of expired tax relief provisions, including the 9 percent minimum Housing Credit rate. The House-passed bill also extends through 2014 the New Markets Tax Credit and a provision exempting homeowners from income tax liability on mortgage debt forgiven or cancelled that would otherwise be taxable.

  • November 26, 2014
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    The Federal Housing Finance Agency (FHFA), on November 25, directed the Government-Sponsored Enterprises Fannie Mae and Freddie Mac (GSEs) to amend their rules on the sale of real estate-owned (REO) properties currently under their control. Under the new policy, the GSEs will be able to sell existing REO properties to any qualified buyer based on the property's fair-market value, as determined by the GSEs.

  • November 24, 2014
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    The Federal Housing Finance Agency (FHFA) released on November 21 the final version of its strategic plan for fiscal years 2015-2019. The plan outlines FHFA's goals and priorities for overseeing Fannie Mae, Freddie Mac, and the Federal Home Loan Banks (FHLBs).

  • November 20, 2014
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    This week, House Republicans and Democrats in their separate caucuses finalized their choices for key Committee chairmanship and ranking member slots in the next Congress.

  • November 20, 2014

    The Federal Housing Finance Agency (FHFA) will determine whether Fannie Mae and/or Freddie Mac should begin making contributions to the Housing Trust Fund by the end of the calendar year, FHFA Director Mel Watt told the Senate Banking Committee on Wednesday. Watt addressed the Committee during its hearing on “The Federal Housing Finance Agency: Balancing Stability, Growth, and Affordability in the Mortgage Market.”