NCSHA Blogs
HUD Reports Further Decline in Homelessness
On October 30 HUD reported in its 2014 Annual Homelessness Report to Congress: Part 1 (AHAR), a continued overall decline in homelessness. The report, utilizing Point-in-Time (PIT) counts from 414 Continuums of Care (CoCs) nationwide, found that on a single night in January 2014, 578,424 people were homeless, a 10 percent decrease from January 2010
Standard and Poor’s: HFA Single-Family Delinquencies Continue to Decline
A report released earlier this week by Standard and Poor's Rating Services (S&P) finds that State HFA single-family whole loan delinquencies declined again in the second quarter of 2014 to their lowest level since the third quarter of 2009. The report, which examined 32 HFA single-family whole loan bond programs (and the program run by the California Department of Veterans Affairs), predicts that state HFA loan performance will continue to perform strongly enough so as to not risk a ratings downgrade for any HFAs.
Moody’s Comment Finds HFAs’ Single-Family Performance Continuing to Improve
State HFAs' single-family portfolio performance continued to improve in the second quarter of 2014, Moody's reported in a recently released special comment. The comment says HFA loan delinquencies declined more than 4 percent in the last year. Moody's predicts that this improvement will continue and will reduce HFAs' loan losses moving forward.
Regulators Release Modified Proposed Flood Insurance Guidelines
Earlier today, five federal agencies released a proposed rule that would amend several regulations pertaining to flood insurance requirements for borrowers living in homes in special flood hazard areas. Specifically, the proposal would require federally regulated lenders to escrow premiums and fess for borrowers’ flood insurance for all residential loans that are originated or refinanced as of 2016. In addition, borrowers in special flood hazard areas would not have to purchase flood insurance coverage for structures that are on a residential property but are not attached to the home.
Final Risk Retention Rule Contains Exemption for State HFA Program Loans
Yesterday, the Federal Deposit Insurance Corporation (FDIC) approved a final rule requiring asset-backed security issuers to retain part of the risk in any asset they securitize. The U.S Securities and Exchange Commission (SEC) approved the rule earlier today, while the Federal Reserve is expected to consider it later this afternoon. HUD, the Federal Housing Finance Agency (FHFA), and the Office of the Comptroller of the Currency (OCC) are expected to follow suit in the coming weeks.
Final Risk Retention Rule Contains Exemption for State HFA Program Loans
Yesterday, the Federal Deposit Insurance Corporation (FDIC) approved a final rule requiring asset-backed security issuers to retain part of the risk in any asset they securitize.
GAO Report Lays Out Framework for Considering Changes to Housing Finance System
Last week, the U.S. Government Accountability Office (GAO) released a report examining the government’s role in the housing finance market and identifying key issues for policymakers to consider when reforming the housing finance system. The agency released this report to help policymakers asses various housing finance reform proposals to ensure that any housing finance reform proposal they enact will effectively accomplish their goals.
HUD Posts Notice for Transferring HAP Contract Budget Authority
On October 9, HUD issued a notice outlining policies and procedures for transferring remaining budget authority of a project-based Section 8 Housing Assistance Payments (HAP) Contract under Section 8 (bb)(1) of the U.S. Housing Act of 1937.
HUD Publishes Section 811 and Section 202 Proposed Rule
HUD published in the October 7 Federal Register a Proposed Rule for implementing statutory reforms made to the Section 811 Housing for Persons with Disabilities and Section 202 Housing for the Elderly programs by the Frank Melville Supportive Housing Investment Act of 2010 and the Section 202 Supportive Housing for the Elderly Act of 2010, both of which were enacted on January 4, 2011.
HUD Releases Final FY 2015 FMRs, Announces Intention to Modify FMR Methodology for FY 2016
On October 3, HUD published final FY 2015 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. The FY15 FMRs are effective as of October 1, 2014.
