- August 26, 2016
The Federal Housing Administration (FHA) and Federal Housing Finance Agency (FHFA) announced yesterday changes to their loss mitigation requirements to streamline their processes and help struggling homeowners avoid foreclosure and stay in their homes.
- August 9, 2016
The Council of Development Finance Agencies (CDFA) on August 5 released its report on 2015 Private Activity Bond and Volume Cap Trends, which finds that states issued $12.9 billion in private activity bonds (PAB) in 2015, $1.3 billion more than the previous year. 2015 was the second year in a row in which states increased their PAB issuance.
- August 8, 2016
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Treasury released the July Housing Scorecard earlier this month. The report says higher sales of new and previously owned homes, a lower mortgage rate, and higher home prices show that the housing market recovery is continuing.
- August 5, 2016
On July 29, President Obama signed into law H.R. 3700, the Housing Opportunity Through Modernization Act (HOTMA), which will streamline and reform several federal housing assistance programs. NCSHA and a broad coalition of housing stakeholders have strongly advocated for this bipartisan legislation over the past year.
- August 3, 2016
The Consumer Financial Protection Bureau (CFPB) yesterday released a set of suggested principles for foreclosure prevention activities. The guidelines are not legally binding but are intended to act as guidance for mortgagees’ and investors’ loss mitigation efforts.
- July 29, 2016
Earlier today, the Consumer Financial Protection Bureau (CFPB) released a proposed rule that would make several changes to CFPB’s TILA-RESPA Integrated Disclosure Rule (TRID). The proposal includes a provision designed to make it easier for lenders to participate in HFA down payment assistance programs by exempting more such programs from onerous disclosure requirements.
- July 28, 2016
Earlier this month, HUD published a proposed rule that would substantially change the formula it uses to determine how much funding public housing agencies (PHA) receive to administer the Housing Choice Voucher (voucher) program. With this new formula, HUD aims to better capture the costs of administering the voucher program and therefore more accurately compensate administering PHAs.
- July 28, 2016
Fannie Mae announced Tuesday that it will be making several adjustments to its affordable HomeReady product that it believes will allow the product to serve more low- and moderate-income borrowers. Fannie Mae has informed NCSHA that these adjustments will also be incorporated into its HFA Preferred Products.
- July 27, 2016
The Urban Institute, in partnership with the National Housing Conference, has released a new online tool entitled, The Cost of Affordable Housing: Does it Pencil Out?, illustrating the gap between the cost of constructing and maintaining rental housing affordable to low-income households and the rents those families can afford to pay. The tool shows that without relying on government subsidies—in particular the Housing Credit program—it is often impossible to build and maintain housing for low-income households.
- July 26, 2016
On July 21, the U.S. Department of Agriculture’s Rural Housing Service (RHS) released data on the agency’s single-family, multifamily, and community facilities programs. RHS also demonstrated how the data can be accessed via a new interactive visualization tool, created by PolicyMap, designed to make the data publicly attainable and more useful.