• September 19, 2014
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    On September 18, the Senate passed by a vote of 78 to 22 the House-passed continuing resolution (CR), H.J. Res. 124. The CR continues funding for all federally funded programs through December 11, 2014 at slightly below FY 2014 funding levels, on an annualized basis. To offset new funding provided through a few targeted provisions in the CR while not exceeding the overall FY 2014 spending level, the CR includes an across-the-board funding reduction of almost 0.06 percent, compared to FY 2014 levels.

  • September 18, 2014
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    Earlier this week, the U.S. Department of Housing and Urban Development (HUD), in collaboration with the Rockefeller Foundation (Rockefeller), announced the National Disaster Resilience Competition (NDRC). The competition will award nearly $1 billion in HUD disaster recovery funds to eligible communities across the nation. HUD states the competition will help the selected communities recover from previous disasters and improve their ability to respond to and recover from natural hazards in the future. Rockefeller will provide technical support and offer training workshops to every eligible state and local government along with assisting applicants applying for HUD funding.

  • September 17, 2014
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    On September 17, the House passed by a vote of 319 to 108 a continuing resolution (CR), H.J. Res. 124, that continues funding for all federally funded programs through December 11, 2014 at slightly below FY 2014 funding levels, on an annualized basis. To offset new funding provided through a few targeted provisions in the CR while not exceeding the overall FY 2014 spending level, the CR includes an across-the-board funding reduction of almost 0.06 percent, compared to FY 2014 levels. The Senate is expected also to approve the CR this week.

  • September 12, 2014

    Earlier this week, NCSHA submitted a letter responding to the Federal Housing Finance Agency’s (FHFA) June 5 Request for Input that solicited comments on the guarantee fees (g-fees) that Fannie Mae and Freddie Mac charge lenders in exchange for guaranteeing single-family mortgage loans. In its letter, NCSHA urges FHFA to take a balanced approach to setting the g-fees that gives equal consideration to the need to protect Fannie Mae and Freddie Mac’s financial stability and FHFA’s mission to support an efficient and accessible housing finance market.

  • September 9, 2014
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    Yesterday, the Office of the Comptroller of the Currency (OCC), the Federal Deposit and Insurance Corporation (FDIC), and the Federal Reserve released new proposed guidelines for how bank examiners will enforce the Community Reinvestment Act (CRA). The new guidance amends the agencies’ “Questions and Answers” worksheet, which is intended to provide clarification on how CRA requirements are enforced. The revisions are part of an ongoing effort the agencies have undertaken to align CRA standards with modern banking practices.

  • September 9, 2014

    Earlier this week, the Urban Institute (UI) released its final evaluation of the National Foreclosure Mitigation Counseling (NFMC) program. Congress created the NFMC program in 2008 to address the nation’s foreclosure crisis through foreclosure mitigation counseling operated through state and local agencies and nonprofits.

  • September 9, 2014

    The Center for American Progress (CAP) released a report last week which provides an overview of the Federal Housing Administration’s (FHA) Distressed Asset Stabilization Program (DASP). The report focuses on how DASP facilitates loan sales, who is buying the loans, and the outcomes of the loan purchases. CAP’s analysis of DASP is based on HUD’s recently released post-sale results report, which NCSHA summarized here.

  • September 9, 2014
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    A report released last week by Moody’s Investors Service finds that HFAs in FY 2013 experienced increased profitability, higher asset-to-debt ratios, and growing fund balances as a percentage of bonds outstanding.
    The study, which is based on audits from 49 states and 4 rated local HFAs, discusses three major findings:

  • September 5, 2014
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    This week, the Joint Center for Housing Studies of Harvard University (JCHS) released a report entitled "Housing America’s Older Adults: Meeting the Needs of an Aging Population." The report examines a number of trends for older adults, defined in the report as those aged 50 years and older, including housing preferences, disability rates, and income.