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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.
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.
