NCSHA Blogs
House Appropriations Subcommittee Approves FY 2018 Rural Housing Funding Bill
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.
FHFA Proposes Fannie and Freddie Affordable Housing Goals for 2018-2020
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.
JCHS’ Latest Report Shows Housing Recovery Not Reaching Everyone
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.
2017 Out of Reach Report Details Rental Affordability Challenges
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.
Treasury Report Proposes Comprehensive Changes to Federal Financial Regulations
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.
Anne Hazlett to Head Rural Development at Department of Agriculture
U.S. Secretary of Agriculture Sonny Perdue on Monday announced Anne Hazlett will lead the Rural Development agencies at the U.S. Department of Agriculture (USDA). Hazlett’s title will be assistant to the secretary for Rural Development, a new position created in keeping with Secretary Perdue’s announcement to reorganize USDA and elevate Rural Development.
Meg Burns Joins the Financial Services Roundtable Housing Policy Council
The Financial Services Roundtable (FSR) announced Monday it has hired Meg Burns as Senior Vice President of Mortgage Policy. Burns joins Ed DeMarco, former Federal Housing Finance Agency (FHFA) director, who recently became the president of FSR's Housing Policy Council (HPC).
House Passes Comprehensive Dodd-Frank Overhaul
The U.S. House of Representatives yesterday passed legislation, the Financial CHOICE Act (H.R. 10), that would repeal and replace many provisions of the Dodd-Frank Wall Street Reform Act. The bill passed on a largely party-line vote of 233-186, with all but one Republican voting in support and all Democrats opposed.
Carson, Patenaude Face Tough Questioning in Congress over Administration’s Proposed HUD Budget Cuts
President Trump’s proposed fiscal year (FY) 2018 Budget for the Department of Housing and Urban Development (HUD) came under intense scrutiny from senators during committee hearings this week, as the HUD secretary and deputy secretary-designate defended the Budget at separate hearings.
Carson Touts Importance of Homeownership at HUD Forum
The Department of Housing and Urban Development (HUD) last week held a housing forum, “A New Era of Homeownership,” to mark the beginning of National Homeownership Month, as declared by President Trump in May. The social and financial benefits of homeownership for Americans and the economy was a common thread throughout the entire forum.
