Newsroom
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.
Office of the Comptroller of the Currency to Consider Modifications to Community Reinvestment Act Regulations
On February 2, the Office of the Comptroller of the Currency (OCC) announced that within the next 30 days it will publish for public comment an advance notice of proposed rule-making to modify and improve regulations related to the Community Reinvestment Act (CRA). Specifically, Comptroller of the Currency Joseph Otting said he would like to provide greater simplification and clarity, including clear benchmarks by which to measure the success of financial institutions in meeting their obligations under CRA. The Treasury Department last year also announced its intention to draft recommendations for improvements to CRA. The Treasury recommendations are likely to come out sometime early this year.
