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.
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.
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.
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 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.
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.
Cantwell Seeks Personal Stories of Housing Needs to Help Promote Forthcoming Housing Credit Expansion Bill
As part of her effort to raise awareness of the need for increased affordable housing resources, and in particular an expansion of Housing Credit authority, Senator Maria Cantwell (D-WA) is collecting personal stories of individuals and families who have struggled to find affordable housing and/or experienced homelessness.
On April 26, HUD issued Notice CPD-16-07 providing guidance to Housing Trust Fund (HTF) grantees on the submission requirements for Fiscal Year (FY) 2016 HTF Allocation Plans. The Notice includes important information on the HTF allocation plan process, including how HUD will notify states of their allocation, required elements of the allocation plan, and guidance on revising state strategic plans and describes changes HUD has made to the consolidated plan regulations to account for the HTF allocation plan process.
Homeownership is a dream that is out of reach for millions of Americans, with only 63.4 percent owning their homes, the lowest level in 30 years, according to the Census Bureau.
On April 20, the Federal Housing Finance Agency (FHFA) held a roundtable with leading affordable housing, consumer protection, civil rights, and environmental organizations to solicit their input on FHFA’s proposed “Duty to Serve” rule. NCSHA was represented at the roundtable by Minnesota Housing Commissioner and NCSHA Board member Mary Tingerthal. Other participants included representatives from Enterprise Community Partners, Center for American Progress, National Housing Conference, National Housing Trust, National Low Income Housing Coalition, Poverty & Race Research Action Council, Leadership Conference on Civil & Human Rights, National Fair Housing Alliance, and NeighborWorks America. NCSHA staff accompanied Mary to the roundtable.
The Senate Appropriations Committee on April 21 unanimously approved its Fiscal Year (FY) 2017 Transportation, Housing and Urban Development (THUD) funding bill. The THUD Appropriations Subcommittee reported the bill April 19. The full Committee adopted the bill with only minor amendments to the Subcommittee-passed bill, which did not change its HUD program funding levels.
Senators Maria Cantwell (D-WA) and Charles Schumer (D-NY) were joined by New York City Housing Development Corporation President Gary Rodney, New York State Homes and Community Renewal Commissioner and Chief Executive Officer James Rubin, and other New York Housing Credit stakeholders for a rally today in support of expanding the Housing Credit at a New York City Credit-financed supportive housing development for young people aging out of foster care.