Newsroom
SDHDA Awards $9 Million for Affordable Housing in South Dakota
South Dakotans' will be seeing additional housing development and preservation across the state. South Dakota Housing Development Authority's (SDHDA) Board of Commissioners approved the award of more than $9 million in funding for housing activities.
Senate Passes Tax Reform Bill
In the early hours of the morning today, the Senate passed its tax reform legislation by a vote of 51-49, with all Democrats and Senator Bob Corker (R-TN) voting against the bill, and all other Republicans voting for it. As we expected, the final legislation retains both Private Activity Bonds and the Housing Credit.
From Playgrounds to Workforce Development, RIHousing Creates Opportunities to Transform Neighborhoods
RIHousing's Board of Commissioners today approved funding awards totaling approximately $3.8 million to revitalize neighborhoods in Providence, Woonsocket, Central Falls, and Smithfield.
Florida Housing Announces Wind Down of Three Hardest-Hit Fund Programs
Florida Housing Finance Corporation (Florida Housing) is announcing the wind down of three of its federal Florida Hardest-Hit Fund (HHF) programs, including the closing of the application portals on January 31, 2018.
Trump Taps Mulvaney to Run CFPB as Interim Director; Leadership Dispute Emerges
The White House announced last week that Mick Mulvaney, the Director of the Office of Management and Budget (OMB), will serve as acting Director of the Consumer Financial Protection Bureau (CFPB) until a permanent candidate is nominated and confirmed by the Senate. Mulvaney replaces Richard Cordray, who stepped down as CFPB Director on Friday.
North Dakota Housing Finance Agency Awards Development Assistance
North Dakota's most vulnerable households will benefit from affordable housing development assistance project awards made by North Dakota Housing Finance Agency (NDHFA).
MassHousing Awards $399,009 for Affordable Sober Housing to Support Men and Women in Recovery in Six Communities
MassHousing has awarded a total of $399,009 to help create or renovate 107 affordable sober housing units in Brockton, Greenfield, Leominster, Lynn, Springfield and Worcester. The awarded projects will serve men and women in recovery, including young women and residents with families.
Senators Release Text of Financial Regulatory Reform Bill
A bipartisan group of Senators, including Banking Committee Chair Mike Crapo (R-ID), released yesterday the text of draft legislation reforming various federal financial regulations.
Urban Institute Report Touts Importance of HFA Down Payment Assistance Programs
Down payment assistance programs offered by state HFAs and other state and local government entities are critical to supporting sustainable homeownership opportunities for low- and moderate-income consumers, according to a November 15 report from the Urban Institute’s Housing Finance Policy Center. The report, which examines barriers to homeownership, advocates that HFA and industry participants collaborate to better educate consumers about these programs.
FHFA Permits Fannie and Freddie to Again Invest in Housing Credit Market
The Federal Housing Finance Agency (FHFA) today announced that it will permit the Government-Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, to resume equity investments in the Low Income Housing Tax Credit (Housing Credit) market, with some limitations, effective immediately. The GSEs each will be able to invest up to $500 million annually in the Housing Credit; however, annual investments above $300 million must be made in markets identified by FHFA as having difficulty attracting investors.
House Passes Tax Reform Bill; Senate Committee Action Continues
The House of Representatives this afternoon passed its tax reform legislation, the Tax Cuts and Jobs Act, H.R. 1, which eliminates the tax exemption for private activity bonds, including Housing Bonds. The final vote was 227 to 205, with two Democrats absent. Thirteen Republicans voted against the bill along with all of the Democrats casting a vote.
FHA Report: Delaying Premium Increases Kept Mortgage Fund at Mandated Capital Levels
The Federal Housing Administration (FHA) released November 15 its 2017 Report to Congress on the financial status of its Mutual Mortgage Insurance Fund (MMIF). The report finds that the economic value of the MMIF, which finances FHA’s single-family loan programs, declined slightly in fiscal year (FY) 2017 but still remains above its statutorily mandated capital ratio of 2 percent.
