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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.
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.
