NCSHA Blogs
FHFA Issues Final Rule on GSE Allocations to Housing Trust Fund
Yesterday, the Federal Housing Finance Agency (FHFA) released a final rule establishing certain requirements regarding Fannie Mae and Freddie Mac’s contributions to the Housing Trust Fund and the Capital Magnet Fund (the Funds). Specifically, the rule would prohibit Fannie Mae and Freddie Mac from trying to recoup their allocations to the Funds by passing along the costs to loan originators, and sets a framework by which FHFA will enforce this prohibition. The final rule is identical to an interim final rule FHFA proposed in December.
HUD Issues Proposed VAWA Rule
Earlier this week, HUD Secretary Julián Castro announced HUD's proposed regulation implementing the Violence Against Women Act (VAWA) Reauthorization of 2013 (VAWA 2013).
HUD Secretary Castro Announces New Proposed Rule on Section 3 Program
Last week, HUD Secretary Julián Castro unveiled a new proposed rule to amend the federal “Section 3” program, which requires that HUD-funded jobs and contracts, to the greatest extent possible, be directed to local low-income residents and the businesses that employ them. The program is designed to create incentives and opportunities for individuals and communities that receive HUD funding to become more self-sufficient.
House and Senate Budget Committees Approve FY 2016 Budget Plans
This week, both the House and the Senate Budget Committees reported their respective Budget Resolutions. The resolutions moved swiftly through the committees, having been released only days earlier by their Republican chairmen, Representative Tom Price (R-GA) and Senator Mike Enzi (R-WY). Both committee-passed resolutions are expected to be debated on the floor of their respective chambers the week of March 23-27.
State HFAs Awarded Over $13 Million in NFMC Funding
NeighborWorks® America announced last week that it has awarded $44.8 million in funding to support counseling for struggling homeowners to help them avoid foreclosure through the National Foreclosure Mitigation Counseling (NFMC) program. Twenty-five state HFAs were selected to receive NFMC funds, as well as 18 HUD-approved Housing Counseling Intermediaries and 68 NeighborWorks affiliates. A list of all the grants awarded is available here.
Tiberi and Neal Introduce Minimum Credit Rate Legislation
On February 26, House Ways and Means Committee members Pat Tiberi (R-OH) and Richard Neal (D-MA) introduced H.R. 1142, which would permanently establish the 9 percent and 4 percent acquisition Housing Credit rate floors. The bill, which is essentially identical to legislation Tiberi and Neal introduced in the last Congress, already has bipartisan support. Of the 18 original cosponsors, including the bill’s lead sponsors, nine are Republicans and nine are Democrats.
NCSHA Teams with Other Bond Supporters to Urge Finance Committee Working Group to Support Tax Exemption for Municipal Bonds
On February 26, NCSHA joined other members of the Municipal Bonds for America coalition in a letter to Community Development and Infrastructure Working Group co-chairmen, Senator Dean Heller (R-NV) and Senator Michael Bennett (D-CO), in support of the tax-exempt status of municipal bonds, including qualified private activity bonds.
The MacArthur Foundation and the Urban Land Institute Unveil Affordable Housing Resource Platform
The MacArthur Foundation and the Urban Land Institute (ULI) recently launched a new online resource designed to explore the links between quality affordable housing and tangible social benefits, including public health, educational performance, and economic stability. The digital platform is intended to provide a user-friendly resource portal combining interdisciplinary research papers, reports, news, and original stories in a way that informs and promotes action for affordable housing.
NCSHA Urges HUD to Develop, Pilot State Fair Housing Assessment Tool before Requiring States to Submit Fair Housing Assessments
This week, NCSHA responded to HUD’s re-opening of the public comment period on the Affirmatively Furthering Fair Housing (AFFH) proposed rule to garner additional comments on whether HUD should delay the first Assessment of Fair Housing (AFH) submission deadline for states and other targeted entities.
House Committee Questions HUD Secretary Castro on Reduced FHA Premiums
HUD Secretary Julián Castro appeared before a hearing of the House Financial Services Committee yesterday to discuss the financial health of the Federal Housing Administration (FHA). During the hearing, Republican and Democratic Committee members engaged Secretary Castro and each other about FHA’s recent decision to lower the annual premiums it charges borrowers to insure most single-family loans.
