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House Democrats’ Infrastructure Bill Includes Housing Credit and PAB Expansion, Program Changes; Increased Housing Program Funding; New Single-Family Tax Credit
House Democratic leaders recently released the details of their new $1.5 trillion infrastructure legislation, the Moving Forward Act (H.R. 2). The bill text, a section-by-section summary, and a fact sheet posted June 22 reveal the bill would invest substantially in roads, bridges, schools, broadband access, and affordable housing.
Alaska Housing Relief Deadline Nears
Alaskans who lost income have about 48-hours left to apply for up to $1,200 in mortgage and rent relief that was made possible through the federal CARES Act responding to COVID-19 hardship. AlaskaHousingRelief.org accepts applications until 11:59 p.m. on Friday, June 26, 2020. Each household represents an average of 2.83 members, totaling 14,383 individuals applying for relief. Based on applicants’ self-reporting, their average annual income loss is $21,992 per household with an average monthly housing payment of $1,417 for homeowners or $1,104 for renters.
FHFA Releases 1st Quarter Foreclosure Prevention and Refinance Report for the Enterprises
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its first quarter 2020 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac...
DCHFA Funds the Rehabilitation of 358 Apartments in Washington Highlands
On June 18, the DCHFA issued $41.7 million in tax exempt bonds and underwrote $25.3 million in four percent low income housing tax credit (LIHTC) equity for the acquisition and rehabilitation of Park Southern Apartments in Washington Highlands (Ward 8). “At DCHFA we take pride in fulfilling our mission of financing affordable rental housing options. At Park Southern the Agency’s investments help to ensure that the current and future residents will have modern homes and facilities at rates conducive to their incomes,” stated Christopher E. Donald, DCHFA Interim Executive Director.
CalHFA’s Mixed-Income Program Reaches the Missing Middle with Lower Total Development Cost per Unit
The California Housing Finance Agency has released an analysis of its Mixed-Income Program (MIP), which was launched in 2019 and expanded with additional state resources in 2020. MIP is especially novel in California where there is no other state rental housing program that provides subsidy for people making above 60% of the area median income, a group that is often called the “Missing Middle.”
NCSHA Washington Report | June 19, 2020
If the moral argument against systemic racial discrimination is self-evident, the business case for a more equitable society should be another reason to do the right thing. Dallas Federal...
$16.7 Million Dividends for Wisconsin Plan Equals Impact
A $16.7 million plan focused on affordable housing and economic development gained final approval from the Wisconsin Housing and Economic Development Authority (WHEDA) board on June 17, as members directed spending toward a rural affordable workforce housing pilot, financing for underserved markets and small business lending. On June 16, WHEDA’s amended 2019-20 Dividends for Wisconsin Plan gained approval from the Joint Committee on Finance.
Applications for CARES Financial Assistance for Renters and Homeowners Will Be Available June 29; Application Submissions Can Begin July 6
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. At that time, applications will be easily accessible from a red banner on the Pennsylvania Housing Finance Agency’s website at www.PHFA.org. PHFA is administering both programs. PHFA is currently identifying organizations in all 67 counties to help it process the large number of rent relief applications anticipated.
State of Maryland Designates Four New Sustainable Communities
Three Eastern Shore communities and one town in Western Maryland have been named Maryland's newest Sustainable Communities. With this designation, there are now 121 Sustainable Communities in the state. The program provides local governments with a revitalization "toolbox" of state resources including programs, loans, grants and tax credits that can support brick and mortar community projects, small business development, job creation, and tourism.
FHA Extends Foreclosure and Eviction Moratorium for Single Family Homeowners for Additional Two Months
Washington - Today, the Federal Housing Administration (FHA) announced a two-month extension of its foreclosure and eviction moratorium through August 31, 2020, for homeowners with FHA-insured...
FHFA Extends Foreclosure and Eviction Moratorium
Washington, D.C. – Today, to help borrowers and renters who are at risk of losing their home due to the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) announced that...
CHFA Awarded $453,000 for Housing Counseling
Colorado Housing and Finance Authority (CHFA) has been awarded a $453,026 grant to support housing counseling agencies located throughout Colorado. “For Coloradans who need help navigating affordable housing options or maintaining successful homeownership, HUD-approved housing counselors offer such guidance. This counseling service is a key resource to facilitate housing stability in our communities,” said Cris White, CHFA executive director and CEO.
