The U.S. Department of Housing and Urban Development’s (HUD) National Servicing Center has ranked the North Dakota Housing Finance Agency (NDHFA) as a Tier 1 Federal Housing Administration (FHA) loan servicer for FY 2018. A state agency, NDHFA provides first-time buyers with purchase assistance including loan guarantees that allow low- to moderate-income borrowers with low down payments to achieve homeownership.
After four successful years leading RIHousing, Barbara Fields today announced she will be stepping down as Executive Director of the state’s housing finance corporation. Fields will continue in her role as Chief Executive Officer and Executive Director until her contract expires March 1. “Barbara Fields has had a decades long commitment to Rhode Island and to the complex housing and homelessness challenges we face,” said Governor Raimondo.
Chinatown Housing Community Will See Extension of Affordability, Renovations Resulting From $9.1 Million in MassHousing Financing
MassHousing has closed on $9.1 million in financing to the Chinese Economic Development Council (CEDC), for the preservation of Oxford Place in Chinatown. As a result of the transaction, CEDC has extended the Section 8 Housing Assistance Payment contract at the 39-unit property for 20 years.
In December, the Wisconsin Housing and Economic Development Authority (WHEDA) issued a $148 million Housing Revenue Bond to finance rental housing developments currently in its loan closing pipeline. The bond issuance is expected to help finance 10 developments that will provide 1,156 units of affordable rental housing throughout Wisconsin.
A new affordable 40-unit supportive housing complex celebrated its opening today joined by New Jersey Housing and Mortgage Finance Agency (NJHMFA) Executive Director Charles A. Richman, local officials, and representatives of The Alpert Group and the Housing Development Corporation of Bergen County, the project’s co-developers.
Executive Director Maura Collins announced that Vermont Housing Finance Agency (VHFA) has hired Seth Leonard of Winooski for the newly created position of Managing Director of Community Development. Leonard comes to VHFA from the USDA Office of Rural Development, where he served as Housing Program Director for Vermont and New Hampshire. Prior to that, Leonard worked at VHFA for four years as Homeownership Outreach Coordinator.
North Dakota Housing Finance Agency (NDHFA) has been awarded a $102,345 U.S. Department of Housing and Urban Development (HUD) housing counseling grant for fiscal year 2018. “Housing counseling grants support programs that educate first-time home buyers, help individuals and families secure affordable rental housing, and offer financial literacy training,” said Jolene Kline, NDHFA executive director.
MassHousing to Provide $2.1 Million in Workforce Housing Financing for New Rental Housing Community for Working Residents in Dorchester
MassHousing is providing $2.1 million in affordable housing financing from the Agency’s Workforce Housing Initiative to support the development of 233 Hancock, a 36-unit housing community, Arx Urban. The MassHousing financing will help transform a pair of Dorchester automobile repair shops into 36 units of new mixed-income homes, including 21 units of new workforce housing.
Construction is Underway for Phase II of the Orient Heights Public Housing Redevelopment in East Boston as MassHousing Closes $26 Million in Financing
Construction is underway for the second phase of the redevelopment of the Orient Heights public housing community in East Boston. MassHousing is supporting the Orient Heights project by providing $26 million in financing to Trinity Financial, Inc. and the East Boston Community Development Corporation, the team redeveloping the site with the Boston Housing Authority. Phase II of the Orient Heights redevelopment will demolish 87 aging state-aided family public housing units, and construct 88 replacement apartments.
North Dakota Housing Finance Agency (NDHFA) is wrapping up a record-breaking year. The state agency, known primarily for the affordable financing it offers through its FirstHome™ program, set a production record in 2018 by purchasing 1,798 loans with a total value of more than $300 million.