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NJHMFA Announces 2019 Round of Federal 9% Low Income Housing Tax Credits to Help Fund 1,200 Affordable Apartments
Guided by new innovative policy, the New Jersey Housing and Mortgage Finance Agency (NJHMFA) plans to award $24 million in highly competitive federal 9 percent Low Income Housing Tax Credits (LIHTC) in 2019, which are expected to create about 1,200 affordable apartments for families, seniors and residents with special needs. The LIHTC program is the most successful tool in creating affordable housing in the country since its creation in 1986.
Banks Fled the FHA Loan Program. The Government Wants Them Back
The Federal Housing Administration is set to clarify rules and compliance standards for its mortgage program in an effort to get banks to start making more loans to the lower-income and first-time...
More Than $28 Billion of New Investment Expected in Opportunity Zones
The number of funds created to invest in the nearly 9,000 economically distressed communities designated as Opportunity Zones continues to grow, according to analysis of NCSHA’s latest Opportunity Zone Fund Directory. The 130 funds listed in the current directory expect to raise more than $28 billion for Opportunity Zone investment. The directory includes 13 new funds and details on each fund’s size, geographic focus, and investment focus.
NCSHA Urges IRS to Rescind Housing Credit Compliance Monitoring Rule Changes, Work with States to Develop Alternative
On May 6, NCSHA sent a letter to the Internal Revenue Service detailing the profound negative impact recent amendments to the Low Income Housing Tax Credit compliance monitoring regulations will have on the program and urging IRS to work with NCSHA and its members to find a better alternative.
Critics Say HUD Bid to Restrict Down Payment Programs Skirts Law
WASHINGTON — Two nonprofits that provide down payment assistance on a national scale are not backing down in the face of a new federal policy that they say could drive them out of business.
Maryland Opportunity Zone Information Exchange Wins National StateScoop50 Award
The Maryland Department of Housing and Community Development's Maryland Opportunity Zone Information Exchange was recently recognized as the State IT Innovation of the Year at the StateScoop 50 awards, beating out more than 40 other nominees from across the country. The annual StateScoop 50 Awards honor the best and the brightest who make state government more efficient and effective.
NCSHA Washington Report | May 3, 2019
A new report from the real estate consulting firm RCLCO reveals a profound disconnect in the housing market, with significant implications for anyone involved in financing affordable...
Maryland Department of Housing and Community Development Hosts Inaugural Maryland Youth Homelessness Symposium
The Maryland Department of Housing and Community Development this week kicked off the inaugural Maryland Youth Homelessness Symposium, held May 1-2 at the Westin Hotel in Annapolis. "Homeless youth are a critically under-noticed and under-served demographic of a population that is already marginalized," said Secretary Kenneth C. Holt during the opening program.
Freddie Mac Rolls Manufactured Housing Pilot Out to the Full Market
Freddie Mac is now offering to buy a new form of manufactured housing loan with terms similar to that of conventional mortgages from all eligible lenders, following a test run last year.
Aging Millennials Projected to Drive Up US Housing Prices
Becoming a homeowner is likely to get more costly and competitive over the next decade as millions more Americans enter the age range where people typically seek to buy their first home.
House Appropriations Subcommittee Approves FY 2020 HUD Bill with Significant Funding Increases for HOME and Other HUD Programs
On May 23, the House Appropriations Subcommittee on Transportation, Housing, and Urban Development approved its Fiscal Year 2020 funding bill, which provides $50.1 billion for HUD programs, $5.9 billion more than the FY 2019 enacted level and $13.4 billion more than the Administration’s FY 2020 budget request.
WHEDA Receives ‘AA’ Issuer Credit Rating From Standard & Poor’s Global Ratings
Standard and Poor’s Global Ratings (S&P) has affirmed its issuer credit rating for the Wisconsin Housing & Economic Development Authority (WHEDA) as 'AA' saying WHEDA’s outlook is stable. In 2018, S&P raised WHEDA’s rating to 'AA' from ‘AA-‘. “S&P’s review provides reassurance in WHEDA’s ability to meet its mission while remaining financially stable to its partners,” said WHEDA Chief Financial Officer Sherry Gerondale.
