• October 24, 2014
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    Earlier today, five federal agencies released a proposed rule that would amend several regulations pertaining to flood insurance requirements for borrowers living in homes in special flood hazard areas. Specifically, the proposal would require federally regulated lenders to escrow premiums and fess for borrowers’ flood insurance for all residential loans that are originated or refinanced as of 2016. In addition, borrowers in special flood hazard areas would not have to purchase flood insurance coverage for structures that are on a residential property but are not attached to the home.

  • October 22, 2014
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    Yesterday, the Federal Deposit Insurance Corporation (FDIC) approved a final rule requiring asset-backed security issuers to retain part of the risk in any asset they securitize. The U.S Securities and Exchange Commission (SEC) approved the rule earlier today, while the Federal Reserve is expected to consider it later this afternoon. HUD, the Federal Housing Finance Agency (FHFA), and the Office of the Comptroller of the Currency (OCC) are expected to follow suit in the coming weeks.

  • October 13, 2014
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    On October 9, HUD issued a notice outlining policies and procedures for transferring remaining budget authority of a project-based Section 8 Housing Assistance Payments (HAP) Contract under Section 8 (bb)(1) of the U.S. Housing Act of 1937.

  • October 9, 2014
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    HUD published in the October 7 Federal Register a Proposed Rule for implementing statutory reforms made to the Section 811 Housing for Persons with Disabilities and Section 202 Housing for the Elderly programs by the Frank Melville Supportive Housing Investment Act of 2010 and the Section 202 Supportive Housing for the Elderly Act of 2010, both of which were enacted on January 4, 2011.

  • October 3, 2014
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    On October 3, HUD published final FY 2015 Fair Market Rents (FMRs). FMRs are used to determine payment standards for a number of housing assistance programs, including the Housing Choice Voucher and the project-based section 8 programs. The FY15 FMRs are effective as of October 1, 2014.

  • October 3, 2014

    On October 2, the Supreme Court announced its decision to take up the Texas Department of Housing and Community Affairs (TDHCA) v. Inclusive Communities Project case, which focuses on whether TDHCA violated the Fair Housing Act by disproportionately awarding Housing Credits to developers building properties in areas with high minority concentrations.

  • October 3, 2014
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    On October 3, HUD issued a notice designating Difficult to Develop Areas (DDA) and Qualified Census Tracts (QCT) for 2015. Housing Credit properties developed in areas with a DDA or QCT designation are eligible to receive up to a 30 percent basis boost. 2015 is last year for which HUD will designate DDAs spanning entire metropolitan areas.

  • September 25, 2014
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    HUD is poised to publish a solicitation for comments on a draft Assessment of Fair Housing (AFH) Tool that local governments administering HOME, CDBG, and various other HUD programs and Public Housing Authorities working in partnership with local governments would use to help them identify barriers to fair housing, set fair housing goals, and assure compliance with HUD’s soon to be finalized Affirmatively Furthering Fair Housing regulations.

  • September 24, 2014
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    On September 23, the Rural Housing Service published a Notice of Funding Availability (NOFA) announcing the availability of $20 million for a demonstration program intended to preserve and revitalize existing Section 515, Section 514, and Section 516 rental housing properties.

  • September 24, 2014
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    On September 22, HUD Deputy Assistant Secretary for Multifamily Housing Programs Ben Metcalf issued a memorandum clarifying previous guidance on the review and approval of multifamily property owners’ Affirmative Fair Housing Marketing Plans (AFHMP).