Newsroom
Harvard Report Finds Growth in Renter Demand Slowing Overall, but Need for Housing Assistance Among Poorest Still at Near-Record
Harvard University's Joint Center for Housing Studies (JCHS) released on December 14 its biennial report on the state of America’s rental housing, finding that while there has been an unprecedented increase in demand for rental housing over the last decade, the surge in rental household growth is now ebbing. However, the report says, the number of very low-income renter households has grown significantly in recent years—by 4.3 million between 2001 and 2015—dwarfing the increase in the number of very low-income households receiving rental assistance (an increase of merely 600,000 households) over that time period.
Conferees Agree on Final Tax Reform Bill Preserving the Housing Credit and Bond Programs
In a major victory for NCSHA, HFAs, affordable housing stakeholders, and, most importantly, those who need housing help in this country, the final tax reform legislation that House and Senate conferees agreed to last Friday retains both private activity tax-exempt bonds, including single-family and multifamily Housing Bonds, and the Low Income Housing Tax Credit. The bill also preserves the Mortgage Credit Certificate (MCC) program.
MassHousing Closes on $22.6 Million to Renovate and Reconstruct 112 Affordable Units in Cambridge
MassHousing closed on $22.6 million in financing for the nonprofit developer Just-A-Start Corporation (JAS) for the acquisition and renovation of 112 affordable apartments in Cambridge, including the new construction of a 16-unit building at 50 York Street that was destroyed in a devastating, 10-alarm fire in December 2016.
SDHDA Introduces New Program For Recent Graduate Homebuying Assistance
South Dakota Gov. Dennis Daugaard announced on December 29, 2017 that South Dakota Housing Development Authority (SDHDA) has launched a brand new program aimed at assisting postsecondary graduates in purchasing a first home in South Dakota.
New LHC program to increase affordable housing in LA flood-impacted areas
The Louisiana Housing Corporation (LHC) released a Notice of Funding Availability (NOFA) for the Restore Louisiana Piggyback Program totaling more than $33 million in Community Development Block Grant-Disaster Recovery (CDBG-DR) funds to address long-term housing needs in parishes impacted by the 2016 floods.
House Financial Services Committee Reports Bill on GSE Dividends, Housing Trust Fund
Earlier today, the House Financial Services Committee passed the Jumpstart GSE Reform Act, H.R. 4560, a bill introduced by Representative French Hill (R-AR) that prohibits Fannie Mae and Freddie Mac (the GSEs) from making contributions to the Housing Trust Fund (HTF) and Capital Magnet Fund (CMF) for any year that they fail to transfer all of their profits each quarter to Treasury, as the existing preferred stock purchase agreements (PSPA) between the GSEs and Treasury require.
Congress Approves FY 2018 Continuing Resolution Funding Programs Through December 22
President Trump this afternoon signed into law a Continuing Resolution (CR, H.J. Res. 123) to keep the federal government funded through December 22. The House approved the measure yesterday by a margin of 235-193, and the Senate approved it hours later by a margin of 81-14. The previous FY 2018 CR would have expired at midnight tonight.
FHA to Stop Insuring Mortgages with PACE Assessments
The Federal Housing Administration (FHA) yesterday announced that it will no longer insure new mortgages on properties with Property Assessed Clean Energy (PACE) assessments.
Congress Approves FY 2018 Continuing Resolution Funding Programs Through December 22
The House approved the measure yesterday by a margin of 235-193, and the Senate approved it hours later by a margin of 81-14. The previous FY 2018 CR would have expired at midnight tonight.
FHA Announces Increased Single-Family Loan Limits for 2018
The Federal Housing Administration (FHA) earlier today announced the county loan limits for its single-family mortgage programs for 2018 and issued a Mortgagee Letter that increases the minimum loan limit for low-price areas and the maximum loan limit for high-cost areas.
FHFA Urges Market Participants to Prepare for Common Securitization Platform
The Federal Housing Finance Agency (FHFA) earlier this week released a report providing an update on its efforts to develop a common structure and Common Securitization Platform (CSP) for mortgage-backed securities (MBS) guaranteed and sold by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The report calls on market participants to begin preparing for the transition to CSP, which FHFA says will be fully implemented in the second quarter of 2019.
MassHousing Honors Top Originators of First Mortgage Loans for Fiscal Year 2017
MassHousing has honored the top originators of first mortgage loans from 27 of the Agency's lending partners for providing MassHousing home loans for low- and moderate-income Massachusetts residents.
