The Senate Appropriations Committee earlier today released the bill text and accompanying report for the FY 2015 Transportation, Housing and Urban Development, and Related Agencies (T-HUD) appropriations bill, S. 2438, it approved on June 5.
The Federal Housing Finance Agency (FHFA) released yesterday a Request for Input soliciting comments on the guarantee fees (g-fees) that Fannie Mae and Freddie Mac charge lenders in exchange for insuring single-family mortgage loans. This request follows up on FHFA Director Mel Watt’s announcement in January that he would suspend indefinitely g-fee increases that were scheduled to occur in March. The increases were approved by Watt predecessor Ed DeMarco. Watt said he needed more time to study the issue.
On June 3, the Senate Transportation, Housing and Urban Development, and Related Agencies (T-HUD) Appropriations Subcommittee reported its FY 2015 funding bill by voice vote. The full Senate Appropriations Committee will consider the bill on June 5.
On May 29, the House Appropriations Committee reported by a vote of 31 to 18 the FY 2015 Agriculture-Rural Development funding bill, which provides funding for the Department of Agriculture’s (USDA) rural housing programs.
On May 21, the U.S Department of Agriculture (USDA) announced the availability of up to $150 million in Section 538 Guaranteed Rural Rental Housing Program (GRRHP) loan guarantee authority to help increase the supply of affordable rural rental housing.
On May 23, the Senate Appropriations Committee released the bill text and accompanying report for the FY 2015 Agriculture-Rural Development funding bill, which provides funding for the Department of Agriculture’s (USDA) rural housing programs. The Committee approved the bill on May 22.
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Senate Appropriations Committee Approves FY 2015 Rural Housing Funding Bill, Subcommittee Spending Allocations
Earlier today, the Senate Appropriations Committee approved by a vote of 30 to zero the FY 2015 Agriculture-Rural Development funding bill, which provides funding for the Department of Agriculture’s (USDA) rural housing programs. The Committee also adopted on a party-line vote of 16 to 14 the FY 2015 spending allocations, or 302(b) allocations, for its 12 subcommittees.
Earlier today, Representative Pat Tiberi (R-OH) and Representative Richard Neal (D-MA), the Chairman and Ranking Member of the House Ways and Means Committee Subcommittee on Select Revenue Measures, announced the introduction of legislation to establish on a permanent basis the 9 percent and 4 percent acquisition Housing Credit rate floors.
Earlier today, HUD released the list of housing counseling agencies that will be awarded grants through HUD’s Housing Counseling program for fiscal year (FY) 2014. HUD will award more than $38 million in such grants this year to 283 organizations, including 22 state HFAs. HUD also released a list of counseling agencies that were awarded funding and a comprehensive summary of each grant awarded.
On May 21, the House Appropriations Committee reported by a vote of 28 to 21 the FY 2015 Transportation-HUD (T-HUD) appropriations bill. The House bill has a funding level of $52.03 billion, $1.2 billion more than the FY 2014 enacted funding level and $7.8 billion less than the President’s FY 2015 Budget request. However, as noted during the markup by the Committee and Subcommittee leaders, the bill’s funding level is effectively $1.8 billion less than the FY 2014 enacted level due to a decrease in receipts available from the Federal Housing Administration (FHA) to offset spending in the bill.
On May 15, the Federal Housing Administration (FHA) published a notice in the Federal Register detailing the Homeowners Armed with Knowledge (HAWK) for New Homebuyers pilot program. This program is part of FHA's larger "Blueprint for Access" program, aimed at increasing underserved borrowers’ access to mortgage credit.