Newsroom
HFAs to Receive Over $10 Million for Foreclosure Prevention Counseling
NeighborWorks® America announced yesterday that it has awarded nearly $40 million in funding to support counseling for struggling homeowners to help them avoid foreclosure through the National Foreclosure Mitigation Counseling (NFMC) program. The recipients include twenty-one HFAs that combined will receive almost $10.8 million. Funding will also be distributed to 19 HUD Counseling Intermediaries and 60 local NeighborWorks affiliates. A list of all the grants awarded is available here.
Representative McCarthy Introduces Moving to Work Expansion Bill
House Majority Leader Kevin McCarthy (R-CA) introduced April 29 The Moving to Work Reformation and Expansion Act of 2016, H.R. 5137, which would remove the cap on the number of public housing agencies (PHAs) that can participate in Moving to Work (MTW) and change the status of MTW from a demonstration to a program. H.R. 5137 also would authorize HUD to provide technical assistance to PHAs participating in MTW and evaluate housing reforms undertaken by MTW participants to identify replicable program models.
HUD Affirms HFAs’ Ability to Provide Down Payment Assistance with FHA Loans
Yesterday afternoon, Principal Deputy Assistant Secretary for Housing and Head of the Federal Housing Administration (FHA) Ed Golding issued a statement reaffirming that loans that include HFA down payment assistance (DPA) are eligible for FHA insurance. The statement also says that HFA DPA programs are legal and consistent with federal housing law.
USDA Allows State RD Offices to Reallocate Unused Rental Assistance
The USDA Rural Development (RD) office on May 24 published an "Unnumbered Letter" allowing state RD offices to reallocate unused rental assistance (RA) within their states without approval from the national office, reversing a policy in place since 2013 requiring state offices to return unused RA to the national office to be recaptured.
House Appropriations Committee Approves FY 2017 HUD Funding Bill
The House Appropriations Committee approved its Fiscal Year (FY) 2017 Transportation, Housing and Urban Development (THUD) funding bill by voice vote yesterday afternoon. The full Committee did not modify HUD program funding levels from those reported by the THUD Subcommittee on May 18.
Bipartisan Policy Center Releases Report Highlighting Housing and Health Care Troubles Facing American Seniors
Earlier this week, the Bipartisan Policy Center (BPC) published a report about America’s expanding senior population and the challenges it will bring to the country’s existing health care and housing networks.
Senate Passes FY 2017 Housing Appropriations Bill
Yesterday, the Senate voted 89 to 8 in favor of the Fiscal Year (FY) 2017 Transportation, Housing and Urban Development, and Related Agencies (THUD) funding bill, H.R. 2577. Despite an overall allocation that is $827 million below last year’s funding level, the Senate THUD bill provides nearly $1.5 billion more for HUD’s affordable housing and community development programs than Congress appropriated for them in FY 2016.
Senators Cantwell and Hatch Introduce Housing Credit Cap Increase Legislation
On May 19, Senator Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT) introduced S. 2962, the Affordable Housing Credit Improvement Act of 2016, which would enact several of NCSHA’s Housing Credit-related legislative priorities. The bill would address the severe shortage of affordable rental housing by increasing Housing Credit authority by 50 percent over five years beginning in 2017 and providing states additional flexibility in their program administration.
NCSHA Urges HUD to Recast State Fair Housing Tool
On May 10, NCSHA submitted comments to HUD on the Affirmatively Furthering Fair Housing (AFFH) Tool for States and Insular Areas, which HUD will require states to use to complete the Assessment of Fair Housing (AFH) under AFFH. The AFH replaces the Fair Housing Analysis of Impediments, which HUD program participants previously undertook to assess impediments to housing choice. AFFH requires all entities that receive funding from HUD grant programs—HOME, the Community Development Block Grant, the Emergency Solutions Grant, and Housing Opportunities for Persons With AIDS—and public housing authorities to take part in the AFH process.
FHFA Revises Multifamily Lending Caps for Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA) announced on Wednesday that it has increased Fannie Mae's and Freddie Mac's 2016 multifamily lending caps from $31 billion to $35 billion, effective immediately.
HUD Publishes Housing Trust Fund State Allocations
HUD published in today’s Federal Register the state-by-state 2016 allocations for the Housing Trust Fund (HTF). As HUD announced last month, total 2016 HTF funding is approximately $174 million.
HFA Program Loans Exempt from Final USDA QM Rule
Earlier today, the U.S. Department of Agriculture (USDA) released a final rule establishing the underwriting standards that loans originated through the Single Family Housing Guaranteed Loan Program (SFHGLP) must meet to be considered "qualified mortgages." Loans that do not meet these standards will no longer be eligible for insurance under SFHGLP as of April 28.
