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House Financial Services Committee Advances Flood Insurance Reauthorization and Other Housing-Related Bills

On May 12, the House Financial Services Committee advanced a series of housing-related measures – including bills to reauthorize and reform the National Flood Insurance Program, make FHA single-family loans more affordable and sustainable, and block HUD from implementing proposed rules that would bar families with mixed immigration status from housing assistance and alter HUD’s Equal Access Rule.

FHFA Report Requests New Authorities; Urges Congress to Pass GSE Reform

The Federal Housing Finance Agency (FHFA) earlier today requested that Congress grant it the authority to charter new government-sponsored mortgage guarantors to compete with Fannie Mae and Freddie Mac. The proposal was included in FHFA’s 2018 Report to Congress, which summarizes FHFA’s 2018 examinations of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.

$29 Billion in Anticipated Opportunity Zone Investment Identified by NCSHA

NCSHA released an updated edition of its Opportunity Zone Fund Directory today, with details on 143 Qualified Opportunity Funds established to invest in high-poverty neighborhoods designated as Opportunity Zones. The directory includes 13 new funds and details on each fund’s size, investment focus, and geographic focus.

HUD Releases Housing Counseling NOFA for FY 2019

The U.S. Department of Housing and Urban Development (HUD) on May 24 issued a Notice of Funding Availability (NOFA) for its Housing Counseling Grant program for fiscal year (FY) 2019. All HUD-approved counseling entities, including state HFAs, are eligible to apply.

House Subcommittee Convenes to Mark Up FY 2020 USDA Appropriations Bill

The House Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies met Thursday to mark up a proposed Fiscal Year 2020 appropriations bill for the Department of Agriculture, the Food and Drug Administration, and related agencies.

HUD Secretary Carson Defends Administration Agenda at House Committee Hearing

On May 21, the House Financial Services Committee held a hearing on “Housing in America: Oversight of the U.S. Department of Housing and Urban Development,” in which HUD Secretary Ben Carson testified and answered questions regarding HUD policies and program oversight.

More Than $28 Billion of New Investment Expected in Opportunity Zones

The number of funds created to invest in the nearly 9,000 economically distressed communities designated as Opportunity Zones continues to grow, according to analysis of NCSHA’s latest Opportunity Zone Fund Directory. The 130 funds listed in the current directory expect to raise more than $28 billion for Opportunity Zone investment. The directory includes 13 new funds and details on each fund’s size, geographic focus, and investment focus.

NCSHA Urges IRS to Rescind Housing Credit Compliance Monitoring Rule Changes, Work with States to Develop Alternative

On May 6, NCSHA sent a letter to the Internal Revenue Service detailing the profound negative impact recent amendments to the Low Income Housing Tax Credit compliance monitoring regulations will have on the program and urging IRS to work with NCSHA and its members to find a better alternative. 

House Appropriations Subcommittee Approves FY 2020 HUD Bill with Significant Funding Increases for HOME and Other HUD Programs

On May 23, the House Appropriations Subcommittee on Transportation, Housing, and Urban Development approved its Fiscal Year 2020 funding bill, which provides $50.1 billion for HUD programs, $5.9 billion more than the FY 2019 enacted level and $13.4 billion more than the Administration’s FY 2020 budget request.

House Financial Services Committee Hearing Focuses on Housing as Infrastructure

On April 30, the House Financial Services Committee held a hearing entitled “Housing America: Assessing the Infrastructure Needs of America’s Housing Stock,” exploring the need to produce and preserve affordable housing as part of the nation’s infrastructure and strategies to improve affordability.

FHFA Reports Fannie and Freddie Made Progress on 2018 Scorecard Objectives

The Federal Housing Finance Agency (FHFA) yesterday released a Progress Report outlining the various activities Fannie Mae and Freddie Mac undertook in 2018 to meet FHFA’s regulatory objectives for the firms. 

HUD Proposes Rule to Prohibit Undocumented Immigrants from Housing Assistance

On April 17, the Department of Housing and Urban Development (HUD) released a proposed rule for Congressional review that would prohibit “mixed status families” from receiving federal housing assistance through HUD’s Public Housing, Project-Based Rental Assistance, and Housing Choice Voucher programs.