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WHEDA Foundation Now Accepting Housing Grant Applications
Wisconsin organizations that provide emergency shelter, transitional residences and extremely low-income housing are encouraged to apply for grants from the WHEDA Foundation. Administered by the Wisconsin Housing and Economic Development Authority, the WHEDA Foundation grants improve housing for community members with complex challenges such as developmental disabilities, domestic abuse, incomes at or below 30 percent of the area median income, youth homelessness and chronic mental illness. Grants of up to $40,000 are available in two categories, emergency/transitional housing and permanent housing.
Affordability Extended for Lower-Income Senior Citizens at Newton Housing Community as a Result of $8.1 Million in MassHousing Financing
MassHousing has provided $8.1 million in affordable housing financing to the non-profit Newton Community Development Foundation (NCDF), to preserve and extend the affordability for lower-income senior citizens for at least 20 years at the 43-unit Casselman House in Newton. “We were pleased to work with NCDF to preserve and extend affordability for these lower-income seniors in Newton,” said MassHousing Executive Director Chrystal Kornegay.
GAO Report Finds Increased Housing Affordability, Quality Challenges
The U.S. Government Accountability Office has published the first in what will be a series of reports analyzing the housing market, including whether the existing housing stock meets the needs of the American people. This first report describes trends in the rental housing market between 2001 and 2017, looking at the share of the population that rents, renters’ demographic characteristics, the affordability of the housing stock to renters, and rental housing conditions.
FHFA Announces GSEs Will Extend Multifamily Forbearance Agreements, Tenant Protections
Today, the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac (the Enterprises) will allow servicers of Enterprise multifamily loans to extend forbearance agreements for multifamily property owners for up to three additional months, for a total forbearance period of up to six months. This extension is available for owners of qualified properties with Enterprise-backed multifamily mortgages experiencing financial hardships due to the coronavirus National Emergency.
Affordability Extended for Lower-Income Households at New Bedford Housing Community as a Result of $19.9 Million in MassHousing Financing
MassHousing has provided $19.9 million in affordable housing financing to Kempton New Bedford Limited Partnership to preserve and extend the affordability for lower-income households for at least 20 years at the 157-unit Bedford Towers in New Bedford. “Bedford Towers has been a longstanding source of quality affordable housing for lower-income individuals and families in New Bedford,” said MassHousing Executive Director Chrystal Kornegay. “This transaction will ensure that these homes will remain affordable to the residents there for at least 20 more years, while also allowing for some improvements to the property.”
FHFA Provides Tenant Protections
Washington, D.C.– Today, to help renters in multifamily properties stay in their homes and to support multifamily property owners during the coronavirus national emergency, the Federal Housing...
Governor Hogan Announces $30 Million in Funding For Eviction Prevention Assistance
Governor Larry Hogan today announced the commitment of $30 million in new funding to prevent evictions and help Marylanders affected by the COVID-19 pandemic. "Too many Marylanders have faced undue financial hardships during this unprecedented crisis, including the inability to pay their rent," said Governor Hogan. "While our eviction moratorium has helped families remain in safe and stable housing through the pandemic, we are also maximizing federal resources to help as many renters as possible."
PA Renters and Homeowners Reminded That Applications for CARES Financial Assistance Will be Available June 29
Renters and homeowners who were financially impacted by the economic slowdown related to the coronavirus pandemic will be able to access applications for rent and mortgage relief starting June 29. The applications will be available by clicking on a red CARES banner on the Pennsylvania Housing Finance Agency’s website at www.PHFA.org. The red banner is already live on the site advising people of the date applications will be available.
NCSHA Washington Report | June 26, 2020
State housing finance agencies, which emerged in the 1960s and came of age in the ’70s, moved to the center of the affordable housing system in the ’80s — where...
Senators Wyden and Cantwell Introduce Legislation Paralleling Housing Credit Provisions in House Infrastructure Bill
Today, Senate Finance Committee Ranking Member Ron Wyden (D-OR) and Senator Maria Cantwell (D-WA) introduced standalone Senate companion legislation to the Housing Credit provisions included in the Moving Forward Act (H.R. 2), the infrastructure legislation released in the House earlier this week. The bill, The Emergency Affordable Housing Act of 2020, does not have a bill number at this time; however, the bill text, a one-page summary, and a more detailed summary are all available.
CFPB Proposes to Remove DTI Limit and Implement Price Thresholds for QM Loans
The Consumer Financial Protection Bureau on Monday released a proposed rule amending its Ability-to-Repay/Qualified Mortgage underwriting guidelines. The proposal rescinds the 43 percent debt-to-income ratio limit loans must meet to qualify as Qualified Mortgages and creates a new price-based threshold for Qualified Mortgage loans.
Florida Housing Applauds Governor DeSantis’ Allocation of Federal Relief Dollars to Help Households Impacted by COVID-19
Today, Governor Ron DeSantis announced he will be awarding the Florida Housing Finance Corporation (Florida Housing) $250 million from the Coronavirus Aid, Relief and Economic Security (CARES) Act relief funding to assist with administering housing assistance and resources for households in Florida impacted by the pandemic. “Florida Housing is grateful for the Governor’s strong support of housing and the programs proposed to give renters and homeowners impacted by COVID-19 the relief they desperately need,” said Trey Price, Executive Director of Florida Housing Finance Corporation.
