Newsroom
Senator Wyden Releases Draft Legislation to Enact Middle-Income Housing Tax Credit Program
On September 22, Senate Finance Committee Ranking Member Ron Wyden (D-OR) released a discussion draft of legislation that would create a new tax credit program to stimulate the development of rental housing for middle-income households earning up to 100 percent of area median income (AMI).
House Financial Services Committee Considers Efficiency and Upward Mobility in the Voucher Program
On September 21, the House Financial Services Subcommittee on Housing and Insurance held a hearing titled “The Future of Housing in America: A Better Way to Increase Efficiencies for Housing Vouchers and Create Upward Economic Mobility” to discuss changes to federal housing assistance that would improve upward mobility and good stewardship of federal funds.
Report on HUD’s RAD Program Shows It has Generated Significant Investment in Public Housing
On September 21, HUD released an independently conducted report evaluating its Rental Assistance Demonstration (RAD) program, which finds that by October 2015, Public Housing Authorities (PHA) participating in the program had generated $2.5 billion in investment to preserve and rehabilitate public housing properties.
Senate Appropriations Subcommittee Hearing Explores Efficacy of Place-Based Rental Assistance
Earlier today, the Senate Appropriations Subcommittee on Transportation, Housing and Urban Development (THUD) held a hearing titled “Housing Vulnerable Families and Individuals: Is There A Better Way?” to explore the efficacy of place-based rental assistance, including public housing and project-based rental assistance (PBRA), and whether Congress should replace these programs with tenant-based Section 8 Housing Choice Vouchers (vouchers).
HUD’s August Housing Scorecard Indicates Continued Housing Recovery
HUD’s recently released monthly Housing Scorecard points to new home sales, homeowner participation in loss mitigation programs, and declining foreclosure starts and completions as evidence that the housing market is steadily continuing to recover from the housing crisis.
HUD Releases FY 2017 Fair Market Rents
On August 26, HUD published a notice in the Federal Register announcing the Fiscal Year (FY) 2017 Fair Market Rents (FMRs). FMRs are used to determine payment standards for a number of housing assistance programs, including the Housing Choice Voucher and the Project-Based Section 8 programs.
FHA and FHFA Announce Changes to Loss Mitigation Programs
The Federal Housing Administration (FHA) and Federal Housing Finance Agency (FHFA) announced yesterday changes to their loss mitigation requirements to streamline their processes and help struggling homeowners avoid foreclosure and stay in their homes.
CDFA Annual Volume Cap Report Finds Uptick in Usage of Private Activity Bonds, in Particular MRBs
The Council of Development Finance Agencies (CDFA) on August 5 released its report on 2015 Private Activity Bond and Volume Cap Trends, which finds that states issued $12.9 billion in private activity bonds (PAB) in 2015, $1.3 billion more than the previous year. 2015 was the second year in a row in which states increased their PAB issuance.
Housing Recovery Continuing, According to HUD Housing Scorecard
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Treasury released the July Housing Scorecard earlier this month. The report says higher sales of new and previously owned homes, a lower mortgage rate, and higher home prices show that the housing market recovery is continuing.
President Signs Housing Assistance Reform Bill Into Law
On July 29, President Obama signed into law H.R. 3700, the Housing Opportunity Through Modernization Act (HOTMA), which will streamline and reform several federal housing assistance programs. NCSHA and a broad coalition of housing stakeholders have strongly advocated for this bipartisan legislation over the past year.
CFPB Releases Loss Mitigation Principles
The Consumer Financial Protection Bureau (CFPB) yesterday released a set of suggested principles for foreclosure prevention activities. The guidelines are not legally binding but are intended to act as guidance for mortgagees’ and investors’ loss mitigation efforts.
CFPB Proposes Expanding RESPA Disclosure Exemption for HFA Loans
Earlier today, the Consumer Financial Protection Bureau (CFPB) released a proposed rule that would make several changes to CFPB’s TILA-RESPA Integrated Disclosure Rule (TRID). The proposal includes a provision designed to make it easier for lenders to participate in HFA down payment assistance programs by exempting more such programs from onerous disclosure requirements.
