HUD: $5 Billion Provided to Help Texas Recover from Hurricane Harvey
The U.S. Department of Housing and Urban Development today awarded $5.024 billion to help hard-hit areas in the State of Texas to recover from Hurricane Harvey. The grant announced today by the Trump Administration is provided through HUD’s Community Development Block Grant – Disaster Recovery (CDBG-DR) Program and will support the repair of damaged homes,…
FHFA: Total Refinance Volume Ticks Up Slightly in Third Quarter 2017
The Federal Housing Finance Agency (FHFA) today reported that more than 362,934 refinances were completed in the third quarter of 2017, compared with 356,707 in the second quarter. FHFA’s third quarter Refinance Report also shows that more than 6,913 loans were refinanced through the Home Affordable Refinance Program (HARP), bringing the total number of HARP…
FHFA: Fannie Mae and Freddie Mac Will Re-enter the LIHTC Market
Equity Investments Will Support Underserved Markets The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will be allowed limited re-entry into the Low Income Housing Tax Credit (LIHTC) market as equity investors, effective immediately. The LIHTC, established in the Tax Reform Act of 1986, is the primary government program…
Census Bureau: Declining Mover Rate Driven by Renters
The rate at which renters moved in 2017 was at a historic low of 21.7 percent, compared to 35.2 percent in 1988, according to new U.S. Census Bureau data released today from the Current Population Survey. However, renters still moved at a higher rate than owners (21.7 percent compared with 5.5 percent, respectively). “Although renters…
HUD: FHA Releases 2017 Annual Report to Congress
Capital Reserves remain above statutory minimum for third straight year The Federal Housing Administration (FHA) today released its 2017 Annual Report to Congress on the economic condition of the agency’s Mutual Mortgage Insurance Fund (MMI Fund). FHA reports that at the end FY 2017, the MMI Fund had a total economic net worth of $25.6…
FEMA: Two Weeks Remain for Homeowners, Renters and Businesses in Florida to Apply for Disaster Assistance
If you are a Florida homeowner, renter or business owner who sustained property damage or loss caused by Hurricane Irma you have two weeks left to register and apply for federal disaster assistance. The deadline to register for assistance from FEMA and to apply for low-interest disaster loans from the U.S. Small Business Administration (SBA)…
FEMA: Medical System, Private Sector Rebound to Signify a Stabilizing Puerto Rico
While the federal government continues its historic response in Puerto Rico to hurricanes Irma and Maria, strong indicators of stability are evident. Capabilities are renewed in Puerto Rico’s healthcare system and medical infrastructure: 99 percent of Puerto Rico’s hospitals are operational, 94 percent of Puerto Rico’s dialysis centers are open and treating patients, and 72…
FEMA: A Look at Florida 60 Days after Hurricane Irma
Florida continues making efforts toward recovery from Hurricane Irma’s severe impact on the entire state – spanning 65,755 square miles from Pensacola on the west end of the Panhandle, Jacksonville on the east coast, south to Key West. Affected communities and disaster survivors are repairing and rebuilding better, stronger and safer with the help of…
HUD: Department Cuts Red Tape to Speed Hurricane Recovery
19 waivers offer flexibility to state and local planners The U.S. Department of Housing and Urban Development (HUD) today announced a package of 19 regulatory and administrative waivers aimed at helping communities to accelerate their recovery from Hurricanes Harvey, Irma and Maria. While HUD granted a number of individual waivers following disasters in the past,…
HUD and Census Bureau: New Residential Sales Report for September 2017
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 September 2017: NEW HOME SALES Sales of new single-family houses in September 2017 were at a seasonally adjusted annual rate of 667,000, according to estimates released jointly today by the Department…