- HFA NewsNovember 24, 2015
South Dakota Housing Development Authority’s (SDHDA) Board of Commissioners recently approved $2.7 million in Housing Tax Credits, $5.1 million in HOME Investment Partnerships Program funding, $2.6 million in Housing Opportunity Funds (HOF) and $57,000 in Neighborhood Stabilization Program (NSP) funding for housing activities across the state.
- HFA NewsNovember 23, 2015
Almost 800 new affordable apartments will be built across western Washington with $182 million approved yesterday by the Washington State Housing Finance Commission.
- HFA NewsNovember 20, 2015R.I. Housing Awards First Round of Funding from State’s $3 Million Pilot Housing Preservation and Production Program
Rhode Island Housing’s Board of Commissioners on Thursday approved two awards totaling $1.5 million from the state’s pilot Housing Preservation and Production Program (HPPP) to rehabilitate 288 affordable apartments in Providence and Johnston.
- Blog PostNovember 24, 2015
Last week, Moody's Investors Service (Moody's) released a report predicting a stable financial outlook in 2016 for state HFAs. The report concludes that the continued growth of state HFAs median margins (net revenue/total revenue) and strong loan production indicates a stable outlook for fiscal year (FY) 2016. Moody's says HFAs must begin to rebuild their balance sheets by adding more mortgage loan assets to their portfolios to achieve a positive outlook.
- Blog PostNovember 20, 2015
Today, HUD published on its website the 2016 Difficult Development Areas (DDAs) and Qualified Census Tracts (QCTs), which are eligible for the 30 percent basis boost under the Housing Credit program. As HUD has long planned, the methodology for determining 2016 metropolitan DDAs relies on new Small Area Fair Market Rents, and thus result in 311 zip code level small area metropolitan DDAs across 45 states, the District of Columbia, and Puerto Rico. This compares to 35 full metropolitan statistical areas in 11 states plus Puerto Rico that HUD designated as DDAs in 2015.
- Blog PostNovember 16, 2015
Earlier today, HUD released its 2015 Annual Report to Congress on the Financial Status of the Federal Housing Administration's (FHA) Mutual Mortgage Insurance Fund (MMIF). The report finds that the MMIF, which funds FHA's single-family and reverse mortgage programs, has a capital ratio of 2.07 percent, slightly above the statutory minimum ratio of 2 percent. This is the first time the MMIF has met its minimum capital ratio since 2009.