• July 18, 2017

    During a hearing held today by the Senate Finance Committee to consider the nomination of David Kautter to become Assistant Secretary of the Treasury for Tax Policy, Kautter told Senator Maria Cantwell (D-WA) that “[I]t may be possible to make the Low Income Housing Tax Credit even more effective and efficient than it is today, and if confirmed, I look forward to working with you and your staff to accomplish this.”

  • July 13, 2017

    The House Appropriations Subcommittee on Transportation, Housing, and Urban Development (THUD) on July 11 approved its Fiscal Year (FY) 2018 funding bill, which provides $38.3 billion in total net discretionary spending on HUD programs, $483 million less than the FY 2017 enacted level but $6.9 billion more than the Administration’s FY 2018 budget request. The bill includes $850 million for the HOME Investment Partnerships program, $100 million less than last year, but rejecting the Administration’s proposal to eliminate funding for it.

  • July 10, 2017

    The Consumer Financial Protection Bureau (CFPB) late last week released a final rule that implements several NCSHA-requested changes to its TILA-RESPA Integrated Disclosure Rule (TRID), including two provisions that will make it easier for lenders to participate in HFA down payment assistance programs by exempting more such programs from onerous and complicated disclosure requirements.

  • July 7, 2017

    The Senate Banking Committee held a hearing June 29 titled “Principles of Housing Finance Reform” to examine goals for housing finance reform legislation and priorities for any new or revised housing finance system. The hearing included testimony from leading industry experts representing the Mortgage Bankers Association, the Financial Services Roundtable, and the Center for Responsible Lending.

  • July 6, 2017

    HUD announced today the recipients of just over $47 million in Housing Counseling program grants for fiscal year (FY) 2017. The funding will go to 255 different housing counseling agencies, including 29 state HFAs, who combined will receive just over $7.8 million in grants. HUD also released a list of counseling agencies that were awarded funding and a comprehensive summary of each grant award.

  • June 30, 2017
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    On June 28, the House Appropriations Agriculture and Rural Development Subcommittee approved by voice vote its Fiscal Year (FY) 2018 funding bill, which provides funding for the Department of Agriculture’s (USDA) rural housing programs.

  • June 30, 2017

    The Federal Housing Finance Agency (FHFA) yesterday proposed a rule establishing affordable housing goals for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac for years 2018 through 2020. FHFA proposes to maintain most of the affordable housing goals and subgoals at their current level.

  • June 16, 2017
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    Harvard University's Joint Center for Housing Studies (JCHS) released today its annual report, The State of the Nation’s Housing 2017. This year's report highlights an uneven housing recovery one decade after the onset of the Great Recession -- with prices, housing demand, and construction activity up, but tight supply and increasing costs adding to affordability pressures. The report also demonstrates that the extent of the recovery differs significantly by metropolitan area (see figure below) and by neighborhoods, which are becoming more economically segregated.

  • June 16, 2017

    The National Low Income Housing Coalition (NLIHC) released last week its annual Out of Reach report which documents the gap between renters’ wages and the cost of rental housing across the nation. According to the report, there is no state, metropolitan area, or county in the country where a full-time minimum wage worker can afford a modest two-bedroom rental home.

  • June 16, 2017

    The U.S. Department of Treasury earlier this week released a comprehensive review of federal financial regulations. The review also proposes a number of regulatory changes impacting the financial sector, including housing lending and public finance. Treasury also released a fact sheet summarizing the review’s findings.