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Mainehousing Invests $30.4 Million, Generating $74 Million in Funds, to Build Affordable Housing
For the first time, MaineHousing has awarded Maine’s new state-level affordable housing tax credits to support the construction of affordable housing. MaineHousing allocated Maine Affordable Housing Tax Credits and federal Low Income Housing Tax Credits (LIHTC) to build or renovate nine affordable housing developments in Maine. The combined $26.2 million in tax credits will generate over $69.8 million in equity from private investors. With an additional $4.2 million in subsidy from MaineHousing, approximately $74 million of funding will create or preserve 430 housing units.
Iowa Finance Authority Names 2020 Top Mortgage Lenders
The Iowa Finance Authority (IFA) recently announced its 2020 top mortgage lenders. The awards were given to the lending institutions and loan originators who assisted the most homebuyers through IFA programs in 2020. The Iowa Finance Authority offers mortgage and down payment assistance programs through a network of more than 400 lenders throughout the state. These partnerships allow Iowans both the convenience of working with their local lender and access to down payment assistance programs available exclusively through IFA Participating Lenders.
PHFA Invites Applicants for 2022 Housing Policy Fellowship
With the goals of funding critical research and promoting leadership development, the Pennsylvania Housing Finance Agency today announces the opening of applications for its 2022 Housing Policy Fellowship. The fellowship will fund a maximum of 12 months of research on a pressing housing or community development topic. With a monthly stipend of $1,000, the maximum funding available will be $12,000. The financial support can be used for a variety of activities supporting the approved research, including interviews with experts, securing resources and study materials, travel for attending relevant conferences and more.
PHFA Announces $500 Homebuyer Purchase Assistance Grant
The Pennsylvania Housing Finance Agency today announces the creation of a $500 grant that can be applied to homebuyers’ down payment and closing costs when they are buying a home. This new grant is available for loans locked on or after March 15. “This is our second announcement in March about a new purchase assistance program we’ve created to help homebuyers,” said PHFA Executive Director and CEO Robin Wiessmann. “Down payment and closing costs are the biggest hurdle many homebuyers face when they purchase a home, and this $500 grant program will help address that challenge.”
MassHousing Closes on $5.5 Million in Financing to Create Affordable and Workforce Housing at 181 Chestnut Street in Chelsea
MassHousing has closed on a total of $5.5 million in affordable and workforce housing financing to the non-profit The Neighborhood Developers, Inc. (TND), to transform a formerly market-rate rental property at 181 Chestnut Street in Chelsea into a mixed-income housing community. The MassHousing financing will allow TND to extend long-term affordability to households across a wide range of incomes, from very-low-income households to middle-income households.
CHFA Becomes First State Housing Finance Agency to Purchase an eNote
Colorado Housing and Finance Authority (CHFA) has become the first state housing finance agency (HFA) in the nation to electronically accept, purchase, and deliver an electronic mortgage note (eNote) to the secondary market. CHFA began its eNote initiative in 2020 to provide greater efficiency to its mortgage process. CHFA’s first eNote transaction was purchased from Fairway Independent Mortgage Corporation and delivered to Fannie Mae.
Funding Available for Housing Development
South Dakota Housing Development Authority (SDHDA) is inviting developers to submit applications for funding from the Housing Trust Fund (HTF) program. The Housing Trust Fund, funded by the U.S. Department of Housing and Urban Development, provides financing to developers and/or owners to expand the supply of decent, safe and affordable housing for extremely low income South Dakotans. Funding is targeted to 30 percent of the Area Median Income and below. This funding source has $4 million available for this application round.
Financial Assistance for Renters and Landlords Now Available
The State of Georgia received $552 million from U.S. Treasury's Federal Emergency Rental Assistance Program to provide relief to individuals, families, and landlords whose finances have been negatively impacted due to the COVID-19 pandemic. The Georgia Department of Community Affairs (DCA) will administer the State of Georgia Rental Assistance Program (GRA), and the online portal to determine eligibility and submit applications is now available.
NCSHA Washington Report | March 12, 2021
Historians and economists — and maybe your grandkids, whatever their line of work — will reckon with the federal government’s response to this pandemic year for many, hopefully healthier,...
FHFA Further Extends COVID-Related Loan Flexibilities
Washington, D.C. – The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend temporary loan origination flexibilities until April 30,...
Congress Sends President Biden $1.9 Trillion American Rescue Plan Act for Signature
Today, the House of Representatives passed the final $1.9 trillion American Rescue Plan Act, following Senate passage of the bill early Saturday morning. No Republicans in either chamber voted for the measure. President Biden is expected soon to sign it into law. In addition to comprehensive COVID-19 relief, including stimulus checks, extension of unemployment insurance, funding for schools and vaccine distribution, and direct aid to state and local governments, the legislation includes more than $42.5 billion in funding for affordable housing programs.
NCSHA Welcomes Rep. Marcia Fudge as HUD Secretary
WASHINGTON, DC — The National Council of State Housing Agencies congratulates Rep. Marcia Fudge on her confirmation today as Secretary of Housing and Urban Development. She is the first woman to...
