Newsroom
State Agencies Offer Tips to Homeowners Before Some Federal Mortgage Relief Ends
The Pennsylvania Department of Banking and Securities (DoBS) and Pennsylvania Housing Finance Agency (PHFA) are urging homeowners struggling to pay their mortgages to take advantage of options to lower or pause payments before some federal protections end on Dec. 31, 2020. The Coronavirus Aid, Relief, and Economic Security (CARES) Act allows borrowers with a federally backed mortgage to request forbearance to defer or lower their payments for up to 180 days if they have been directly or indirectly affected by COVID-19. The CARES Act also prohibits negative credit score reporting for homeowners using this forbearance option.
MassHousing Closes on $26.4 Million in Financing for the Refinancing and Substantial Renovation of the 248-Unit Powdermill Village in Westfield
MassHousing has closed on $26.4 million in affordable housing financing to the non-profit Affordable Housing and Services Collaborative, Inc., to support the refinancing and major rehabilitation of the 248-unit Powdermill Village in Westfield. Powdermill Village was constructed in the 1970s and was last renovated in 2000. AHSC has planned more than $28 million in improvements to substantially rehabilitate the 12 two- and three-story buildings at the property, including one building that was partially destroyed by a fire in April 2018.
908 Coalition Plan Includes $25 Billion for Coronavirus Relief Payments for Rental Assistance
Late yesterday, the so-called 908 Coalition—a bipartisan group of centrist Senators and members of the House Problem Solvers Caucus—released the text of its $908 billion coronavirus relief plan, split into two separate bills. The first bill is a $748 billion package that includes $25 billion for emergency rental assistance and spending on other programs and has wide support on both sides of the aisle. The second bill includes the two pieces of the plan that have met with resistance from some on the Hill: liability protection—favored by Republican leadership but opposed by Democratic leadership—and $160 billion in funding for state and local governments—favored by Democratic leadership but opposed by Republican leadership.
Florida Housing’s Coronavirus Relief Fund Program Set to Conclude on December 30
On December 30, 2020, the Florida Housing Finance Corporation (Florida Housing) is set to close the Coronavirus Relief Fund (CRF) program. With over $200 million committed, this initiative was launched in July 2020 to assist Floridians impacted by the COVID-19 pandemic. Through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), these funds are directed to assist residents living in Florida Housing’s multifamily and special needs developments, as well as Florida residents needing mortgage and rental assistance as a result of the pandemic.
Agency Makes Affordable Housing Funding Commitments
The North Dakota Industrial Commission (Commission) announced today that six projects have received funding commitments from the North Dakota Housing Finance Agency (NDHFA) to support the construction or rehabilitation of more than 200 affordable housing units. During its most recent funding round, NDHFA allocated $3.25 million in federal tax credit authority through the Low Income Housing Tax Credit (LIHTC) program. When syndicated, the credits will generate approximately $29 million in project equity. NDHFA also awarded $2.76 million through the National Housing Trust Fund (HTF).
HUD Extends HOME COVID-19 Waivers
HUD recently issued two new memoranda to revise, extend, and update the pair of memoranda issued on April 10, 2020, suspending certain statutory and regulatory requirements for the HOME Investment Partnership program and HOME-Assisted Tenant-Based Rental Assistance for Emergency and Short-Term Assistance in response to the COVID-19 pandemic.
NCSHA Washington Report | SPECIAL EDITION | December 11, 2020
This week, as state housing finance agencies worked urgently to deliver federal emergency assistance in the remaining days federal rules allow, NCSHA worked relentlessly to secure additional aid...
Secretary Holt Announces Owen McEvoy as New Deputy Secretary at the Maryland Department of Housing and Community Development
Maryland Department of Housing and Community Development (DHCD) Secretary Kenneth C. Holt today announced that Owen McEvoy will serve as Deputy Secretary for the Department. Prior to his current role, McEvoy served as DHCD's Director of Public Information where he managed a team of marketing, communications, outreach, business development and customer service professionals. During his tenure, he directed a series of business development and marketing campaigns that have enabled the Maryland Mortgage Program to achieve more than $1 billion in mortgage reservations.
Deadline Approaching to Apply for Housing Assistance for South Dakotans Impacted by COVID-19
South Dakota Housing Development Authority (SDHDA) would like to remind South Dakotans, who have been financially impacted by COVID-19 and need help paying their housing costs, that the application deadline is soon approaching. Applicants who submit by Friday, Dec. 18, 2020 at 11:59 p.m. CT will be considered for funding. Successful applicants may receive up to $1,500 a month. The assistance is funded by the State of South Dakota from the Federal Coronavirus Aid, Relief and Economic Security (CARES) Act.
First ADU Begins Construction Through CalHFA’s Innovative Pilot Program
With California's already severe housing crisis being made even worse due to COVID-19 and the related economic challenges, Governor Gavin Newsom's Administration and the State Legislature have been searching for innovative solutions. One solution area that has received strong legislative support in recent years is Accessory Dwelling Units (ADUs), and now the California Housing Finance Agency (CalHFA) is announcing the first unit using its ADU financing pilot program has begun construction.
Lori Threadgold Returns to Kansas Housing Resources Corporation as CFO
Lori Threadgold will lead Kansas’ housing finance operations, serving as Chief Financial Officer of the state’s housing finance agency, KHRC Executive Director Ryan Vincent announced. As CFO, Threadgold will oversee the corporation’s investment portfolio, monitor grant activity and program funds, develop financial plans, and ensure proper internal controls. “We are delighted to welcome Lori back to KHRC,” Vincent said. “Her financial background, along with her specialized housing finance experience, make her a valuable asset to our executive leadership team.”
NCSHA Statement on the Selection of Rep. Marcia Fudge as HUD Secretary
WASHINGTON, DC — The National Council of State Housing Agencies commends President-Elect Biden on his selection of Representative Marcia Fudge for Secretary of Housing and Urban Development and...
