NCSHA Blogs
FHA’s Capital Ratio Returns to Statutorily Required Level
Earlier today, HUD released its 2015 Annual Report to Congress on the Financial Status of the Federal Housing Administration's (FHA) Mutual Mortgage Insurance Fund (MMIF). The report finds that the MMIF, which funds FHA's single-family and reverse mortgage programs, has a capital ratio of 2.07 percent, slightly above the statutory minimum ratio of 2 percent. This is the first time the MMIF has met its minimum capital ratio since 2009.
Brady to Chair Ways and Means Committee
On November 4, the Republican Steering Committee voted to elect Representative Kevin Brady (R-TX) as chairman of the House Ways and Means Committee over Representative Pat Tiberi (R-OH), after newly elected House Speaker Paul Ryan (R-WI) threw his support behind Brady. The Steering Committee votes by secret ballot, so the actual vote tally is unknown.
AIA and HUD Accepting Entries for the 2016 Housing and Community Design Awards Program
The American Institute of Architects (AIA), in conjunction with HUD, recently announced that it has begun accepting entries for the 2016 Housing and Community Design Awards Program. AIA and HUD invite owners of structures and architects licensed in the United States to submit project designs of any size, budget, or style. Only projects completed after January, 1, 2011 will be considered for the awards. All entries must be submitted electronically before November 20, 2015 at 5:00 pm Eastern.
NCSHA Suggests Targeted Improvements to HUD Programs in Statement to House Financial Services Committee
NCSHA on November 1 submitted a statement to the House Financial Services Committee in response to Chairman Jeb Hensarling’s (R-TX) request for recommendations to reform HUD and modernize the delivery of housing assistance. Hensarling issued the call for public comments as HUD marks its 50th anniversary this year, maintaining that HUD has fallen short of the expectations Congress and President Lyndon Johnson set for the agency upon its establishment, and said that “we must reform and innovate how we provide assistance for housing in the 21st century or we will continue to fail the very people who are in most need of our help.”
House Committee Approves Legislation to Classify Muni Bonds as High-Quality Liquid Assets
Earlier today, the House Financial Services Committee voted overwhelmingly to favorably report legislation (H.R. 2209) that would allow large banks to count some of their municipal bond investments as high-quality liquid assets under federal bank liquidity standards. The legislation, which was introduced by Representative Luke Messer (R-IN), was approved by a vote of 56-1, with Democrat Stephen Lynch of Massachusetts casting the lone opposition vote.
SIGTARP Releases Reports on Hardest Hit Fund
The Special Inspector General for the Troubled Asset Relief Program (SIGTARP) released on October 28 its latest quarterly report, which includes a section on the Hardest Hit Fund (HHF) and incorporates an audit focusing on how many applicants who filed for Hardest Hit Fund (HHF) assistance were granted benefits and how long it took before applicants received assistance. SIGTARP concurrently released a stand-alone version of this audit.
House Financial Services Committee Examines HUD Outcomes Over the Department’s 50 Year History
On October 22, the House Financial Services Committee held a hearing entitled, "The Future of Housing in America: 50 Years of HUD and its Impact on Federal Housing Policy" to review the effectiveness of HUD programs since the Department was established half a century ago.
Ryan Wins House Speakership, Leaving Open Ways and Means Chairmanship
The House of Representatives today elected Representative Paul Ryan (R-WI) as Speaker of the House. Ryan received 236 votes, while Minority Leader Nancy Pelosi (D-CA) received 184 votes. Nine House members voted for Representative Daniel Webster (R-FL), and Representatives Jim Cooper (D-TN) and John Lewis (D-SC) and retired General Colin Powell each received one vote.
House Passes Budget Deal Allowing Increased Discretionary Spending and Lifting Debt Limit
Last night, the House passed HR 1314, the Bipartisan Budget Act of 2015, by a vote of 266 to 167. The yay votes included all 187 Democrats and 79 Republicans. The nay votes were all Republicans.
HOME Coalition Report and Briefing Raises HOME’s Profile in Congress
Earlier today, the HOME Coalition, which NCSHA chairs, unveiled its just-released report, Building HOME: The HOME Investment Partnerships Program’s Impact on America’s Families and Communities, at a briefing on the Hill for members of Congress and their staff. The first-of-its kind report analyzes HOME’s housing and economic impact at the national and state levels.
