NCSHA Blogs
Trump Nominates Brian Montgomery to Lead FHA
President Trump yesterday nominated Brian Montgomery to serve as commissioner of the Federal Housing Administration (FHA) and HUD assistant secretary for housing. Montgomery previously served as FHA commissioner/assistant secretary for housing from 2005 to mid-2009 after working on President George W. Bush’s White House staff. He is currently vice-chairman of the Collingwood Group, a housing finance consulting firm he co-founded.
HUD Publishes 2018 Difficult Development Areas and Qualified Census Tracts
On September 11, HUD published a Notice in the Federal Register designating Difficult Development Areas (DDA) and Qualified Census Tracts (QCT) for 2018 for purposes of the basis boost allowed under Low Income Housing Tax Credit (Housing Credit) program.
Congress Passes Stopgap Funding, Debt Ceiling Extension, and Disaster Aid
On September 8, President Donald Trump signed a legislative package including provisions to provide more than $15 billion in disaster recovery aid, raise the debt ceiling, and enact a continuing resolution to fund federal programs after the September 30 end of this fiscal year until December 8, 2017. The president's signature came after House lawmakers cleared the bill (HR 601) by a 316-90 vote earlier in the day. The Senate approved the package the day before by a 80-17 vote.
FHA Adjusts Fees for Reverse Mortgage Program
The Federal Housing Administration (FHA) yesterday announced that it is amending the fees it charges borrowers through its Home Equity Conversion Mortgage (HECM) program.
HUD Releases FY 2017 Fair Market Rents
On August 26, HUD published a notice in the Federal Register announcing the Fiscal Year (FY) 2017 Fair Market Rents (FMRs). FMRs are used to determine payment standards for a number of housing assistance programs, including the Housing Choice Voucher and the Project-Based Section 8 programs.
Administration Releases Tax Plan Outline
The Trump Administration released April 26 a one-page outline of tax reform principles and objectives it intends to pursue this year.
HUD Report Finds Worst Case Housing Needs Continuing to Grow
On August 9, HUD released its biannual Worst Case Housing Needs Report to Congress. The report finds that, despite continued signs of a strengthening national economy, 8.30 million households had worst case needs in 2015, up from 7.72 million in 2013 and approaching the record high of 8.48 million in 2011. HUD defines worst case housing needs as renters with very-low incomes (below 50 percent of area median income) who do not receive government housing assistance and who spend more than half of their income on rent, live in severely inadequate conditions, or face both of these challenges. In 2015, the vast majority of households with worst case housing needs had severe housing cost burdens, while two percent lived in severely inadequate conditions.
Senate Confirms HUD and Treasury Nominees
The U.S. Senate yesterday confirmed by voice vote several of President Trump’s nominees for key housing and tax policy positions, including: Neal Rackleff, to be HUD Assistant Secretary for Community Planning and Development; Anna Farias, to be HUD Assistant Secretary for Fair Housing and Equal Opportunity; and David Kautter, to serve as Assistant Secretary of Treasury for Tax Policy. The three nominees were passed as part of a broader package of 65 nominees spanning a variety of federal agencies.
Whitaker to Testify on Affordable Housing at Senate Finance Committee Hearing
NCSHA President Grant Whitaker, who serves as president and chief executive officer of the Utah Housing Corporation, will testify on behalf of NCSHA before the Senate Finance Committee at a hearing on America’s Affordable Housing Crisis: Challenges and Solutions. The hearing will be broadcast live on the Committee’s website, and will also be available there for streaming thereafter.
Senate Banking Committee Approves Administration’s HUD Nominees
The Senate Banking Committee voted during executive session July 27 to approve the nominations of six Trump Administration nominees for positions in the Departments of Housing and Urban Development (HUD), Treasury, and Commerce.
