Federal Reserve: Accepting Applications for its Community Advisory Council
The Federal Reserve Board announced on Tuesday that it is accepting applications from individuals who wish to be considered for membership on the Community Advisory Council (CAC). Formed in 2015, the CAC advises the Board on issues affecting consumers and communities. The CAC is made up of a diverse group of experts and representatives of…
OCC: Newsletter Focuses on Innovative Partnerships to Preserve Affordable Housing
WASHINGTON — The Office of the Comptroller of the Currency (OCC) published the latest edition of its Community Development Investments newsletter entitled “Preserving Affordable Housing: Innovative Partnerships.” This issue describes the role of national banks and federal savings associations in preserving America’s affordable rental housing and presents examples of how financial institutions and nonprofit organizations…
FHFA: Report Details Progress on the 2016 Scorecard for Fannie Mae and Freddie Mac
Washington, D.C. – The Federal Housing Finance Agency (FHFA) issued a Progress Report today summarizing the 2016 activities of Fannie Mae and Freddie Mac (the Enterprises) to further FHFA’s three strategic objectives as conservator: Maintain, Reduce, and Build. The Progress Report details efforts made to address borrower impediments to credit access while transitioning from crisis…
HUD: New Residential Sales in February 2017 Reported
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau today jointly announced the following new residential sales statistics for February 2017: NEW HOME SALES Sales of new single-family houses in February 2017 were at a seasonally adjusted annual rate of 592,000, according to estimates released jointly today by…
FHFA: Deadline Extended for Public Input on Potential Chattel Loan Pilot in Duty to Serve Program
Washington, D.C. – The Federal Housing Finance Agency (FHFA) is extending the deadline, from Feb. 17, 2017 to March 21, 2017, for stakeholders to respond to a request for input on potential manufactured home chattel loans pilot initiatives for Fannie Mae and Freddie Mac (the Enterprises) as part of the Duty to Serve underserved markets. …
HUD: Grants Offered to Clean up Lead-Based Paint Hazards
WASHINGTON – The U.S. Department of Housing and Urban Development has announced that it is making grants available to help eliminate dangerous lead-based paint hazards from lower income homes in order to protect young children. Additionally, this funding will provide an opportunity for local communities to establish and support programs to control other housing-related health and…
HUD: Comprehensive Assessment of Housing Needs of America Indians and Alaska Natives Released
WASHINGTON – American Indian tribes are building more housing units after enactment of the Native American Housing Assistance and Self-Determination Act of 1996 (NAHASDA) but housing conditions are substantially worse among American Indian households than other U.S. households. These are some of the findings of three new comprehensive reports of tribal housing needs released today…
FHFA: Public Input Requested on Duty to Serve Program
Washington, D.C. – The Federal Housing Finance Agency (FHFA) is requesting public input on chattel loan pilot initiatives for Fannie Mae and Freddie Mac (the Enterprises) and the proposed Evaluation Guidance under the final rule on Duty to Serve Underserved Markets. FHFA issued a final rule on Dec. 13, 2016 to implement the Duty to…
HUD: $10 Million in “Sweat Equity” Grants Announced
WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Secretary Julián Castro today awarded $10 million in “sweat equity” grants to four non-profit self-help housing organizations through HUD’s Self-Help Homeownership Opportunity Program (SHOP). This funding will create at least 539 affordable homes and significantly lower their purchase price for low-income buyers, who will contribute…
HUD: $15 Million Announced to Test a New Approach to Help Low-Income Seniors Age in Place
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today awarded approximately $15 million to select owners of HUD-assisted senior housing developments to help their low-income senior tenants to age in their own homes and delay or avoid the need for nursing home care. HUD will cover costs related to hiring a full-time Enhanced…