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19 HFAs Awarded FY 2019 HUD Housing Counseling Grants

The U.S. Department of Housing and Urban Development announced late yesterday the recipients of just over $42 million in Housing Counseling program grants for FY 2019. HUD’s announcement says the funding will go to 207 different housing counseling agencies, including 19 state HFAs who will receive a combined $8.5 million in grants.

NCSHA Identifies $44 Billion in Anticipated Opportunity Zone Investment

Investment capital targeted to economically distressed communities designated as Opportunity Zones continues to increase, according to analysis of NCSHA’s latest Opportunity Zone Fund Directory, released today.

FHFA, Treasury Allow GSEs to Retain Capital

Federal Housing Finance Agency Director Mark Calabria and Treasury Secretary Steven Mnuchin announced earlier today that they have agreed to allow the government-sponsored enterprises Fannie Mae and Freddie Mac to retain additional capital. The agreements amend the Preferred Stock Purchase Agreements both GSEs entered into with Treasury as a condition for receiving federal assistance in 2008

Senate Appropriations Committee Advances FY 2020 HUD Bill Level-Funding Most Housing Programs

The Senate Appropriations Committee on September 19 approved unanimously the Fiscal Year (FY) 2020 Transportation, Housing and Urban Development (THUD) funding bill, which provides $48.6 billion in...

Senate Appropriations Committee Approves Rural Housing Funding Bill

The Senate Appropriations Committee yesterday unanimously approved the FY 2020 Agriculture, Rural Development, Food and Drug Administration, and Related Agencies appropriations bill. The bill would provide $151.7 billion in discretionary and mandatory funding for all USDA programs, a decrease of $87 million from the FY 2019 enacted funding level.

Banking Committee Examines Administration Housing Finance Plans

The Senate Banking Committee yesterday held a hearing to discuss housing finance reform proposals released last week by the U.S. Treasury Department and HUD. Committee Republicans and Democrats expressed wide disagreements about the merits of the proposals, particularly their support for affordable housing.

Proposed Changes to Disparate Impact Standard Increase Plaintiffs’ Burdens in Discrimination Cases

On August 16, HUD released a proposed revision of its Disparate Impact Rule, which implements HUD’s interpretation of the Fair Housing Act’s Discriminatory Effects Standard, to better reflect the Supreme Court’s 2015 ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc. 

FHA Issues New Review Requirements for Condominium Loans

The Federal Housing Administration (FHA) earlier today issued a final rule revising the requirements condominium projects must meet for their single-family units to be eligible for FHA mortgage insurance.

HUD Seeking Nominations for 2020 HUD Secretary’s Opportunity and Empowerment Award

The U.S. Department of Housing and Urban Development, in partnership with the American Planning Association, will begin accepting nominations later this month for its annual HUD Secretary’s Opportunity and Empowerment Award, which recognizes community planning efforts that have improved the quality of life for low- and moderate-income residents.

Opportunity Zone Target Investment Surges to Nearly $43 Billion Nationwide

The amount of capital targeted for investment in designated Opportunity Zones increased dramatically in the past month, according to analysis by NCSHA based on the most recent edition of its Opportunity Zone Fund Directory, released today. The 163 funds included in the current directory expect to raise nearly $43 billion in Opportunity Zone investment, up from $29 billion last month and nearly triple the amount anticipated at the start of 2019. This directory includes 20 new funds and details on fund size and geographic and investment focus for all the funds listed.