Newsroom
Congress Passes Budget Deal, New Stopgap Funding
President Trump this morning signed a two-year bipartisan budget agreement lifting the caps on federal spending for FY 2018 and FY 2019 by almost $300 billion and extending current funding levels until March 23 so that Appropriators will have time to write final FY 2018 spending bills using the new caps.
House Passes Mortgage Choice Act
The U.S. House of Representatives on Thursday passed the Mortgage Choice Act (H.R. 1153). The legislation, which was introduced by Rep. Bill Huizenga (R-MI), would adjust the definition of “points and fees” in CFBP’s Ability-to-Repay/Qualified Mortgage rule to exclude insurance premiums held in escrow and title insurance charges from a company that's affiliated with the lender.
IRS Issues Guidance to Governors on Procedure for Designating Census Tracts as Qualified Opportunity Zones
Yesterday, the Internal Revenue Service (IRS) issued Revenue Procedure 2018-16 providing guidance to state and territorial governors and the mayor of the District of Columbia on the necessary procedure for designating census tracts as Qualified Opportunity Zones (QOZ) in order to take advantage of the new Opportunity Zones program established in the recently enacted tax reform bill.
State Housing Board Approves $10 Million for Developments in New Orleans
The Louisiana Housing Corporation (LHC) Board of Directors awarded more than $10 million for the construction and rehabilitation of four privately-owned affordable housing developments.
Major Renovation of the 52-Unit Burbank Gardens in Boston is Underway, Resulting from $14.3 Million in MassHousing Financing
MassHousing has provided a total of $14.3 million in financing to the nonprofit Fenway Community Development Corporation, for the renovation and preservation of 52 affordable housing units at the Fenway CDC’s Burbank Gardens community in Boston’s Fenway Neighborhood. The MassHousing financing package will enable major renovations at the four-story development, and will resolve expiring affordability challenges at the property by extending affordability in perpetuity.
Gov. Edwards Appoints New Orleans Attorney Derrick Edwards to State Housing Board
Governor John Bel Edwards has appointed Derrick Edwards to serve on Louisiana Housing Corporation's Board of Directors to represent the 2nd congressional district.
Iowa Finance Authority Awards Habitat for Humanity Affiliates $100,000 to Advance Affordable Housing Opportunities
The Iowa Finance Authority Board of Directors today awarded a total of $100,000 in State Housing Trust Fund grants to advance affordable housing opportunities in Boone and Storm Lake.
Iowa Finance Authority Awards City of Newton $450,000 Workforce Housing Loan for Historic Hotel Maytag Renovation
The Iowa Finance Authority Board of Directors today approved a $450,000 low-interest loan to the City of Newton for the development of new workforce rental housing as a part of the renovation of the historic Hotel Maytag.
FHFA Publishes Final GSE Affordable Housing Goals for 2018-2020
The Federal Housing Finance Agency (FHFA) February 6 published a final rule establishing the affordable housing goals for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac for years 2018 through 2020. The rule maintains most of the affordable single-family and multifamily housing goals and subgoals at the same levels from years 2015-2017.
