HUD: Community Compass Technical Assistance and Capacity-Building Program Seeking Technical Assistance Providers
Today, the U.S. Department of Housing and Urban Development (HUD) is announcing the availability of at least $80,681,000 for the Community Compass TA Program and capacity-building activities for HUD’s customers. This program is focused on solving complex housing and community development challenges by equipping HUD customers with the knowledge, skills, tools, and systems to implement…
FHFA: House Price Index Down 0.1 Percent in November 2022; Up 8.2 Percent from Last Year
House prices fell 0.1 percent nationwide in November compared to October, according to the latest Federal Housing Finance Agency (FHFA) House Price Index (HPI®). House prices rose 8.2 percent from November 2021 to November 2022. The previously reported 0.0 percent price decline in October 2022 remained unchanged. For the nine census divisions, seasonally adjusted monthly house price changes from…
Federal Reserve: Changes to HMDA Loan Volume Reporting Threshold for Closed-End Mortgage Loans
This letter addresses the impact on financial institutions supervised by the Federal Reserve of recent changes as a result of litigation related to the HMDA reporting threshold for closed-end mortgage loans. Background In May 2020, the Consumer Financial Protection Bureau (CFPB) published a final rule amending Regulation C (Home Mortgage Disclosure) to, among other things,…
FEMA: Twenty Tribes and All Inhabited U.S. Territories Now Eligible for FEMA’s Safeguarding Tomorrow Revolving Loan Fund Grant Program
FEMA is expanding the eligibility for a new grant program that provides capitalization grants to fund revolving loans for resilience-related activities. The Safeguarding Tomorrow Revolving Loan Fund grant program has been expanded to give insular areas the same eligibility to apply as states, the District of Columbia and Puerto Rico. This means American Samoa, Guam, Northern Mariana…
HUD: Rental Assistance Demontration Transaction Closed in South San Francisco, CA to Preserve 40 Affordable Rental Homes for Seniors
Transaction supports significant renovation of rental homes at multifamily property with a HUD project-based rental assistance contract. The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing announced today that it recently closed a Rental Assistance Demonstration (RAD) transaction with Bridge Housing, a non-profit housing provider, to support the preservation and renovation of…
HUD: FHA Assistance Options Expanded for Borrowers Struggling to Make Mortgage Payments
Updated loss mitigation options will help borrowers struggling with their mortgage payments to avoid foreclosure. Today, the Federal Housing Administration (FHA) is announcing that it is expanding and enhancing its set of loss mitigation options used to help borrowers struggling to make mortgage payments on their FHA-insured mortgages. The enhancements extend FHA’s highly effective COVID-19 loss mitigation…
FEMA: San Mateo County Added to California Major Disaster Declaration
San Mateo County has been added to the major disaster declaration for California’s severe storms and flooding, meaning residents who had damage or losses from the storms that began Dec. 27, 2022, may now apply for FEMA disaster assistance. The declaration allows FEMA to provide direct support to individuals and households in nine counties: Calaveras, Merced, Monterey,…
HUD: Loan Guarantee Announced for Laredo, TX Affordable Housing Rehabilitation Project
Today, the U.S. Department of Housing and Urban Development (HUD) announced a $4.1 million loan guarantee to the City of Laredo, Texas. The loan guarantee, offered through the Section 108 Loan Guarantee Program (Section 108), will be used to finance the Southern Hotel Affordable Housing Rehabilitation Project. The project will rehabilitate an existing historical building…
HUD: $15 Million Loan Guarantee Announced for Cleveland, OH Affordable Housing Rehabilitation Project
Today, the U.S. Department of Housing and Urban Development (HUD) announced a $15 million loan guarantee to the City of Cleveland, Ohio. The loan guarantee, offered through the Section 108 Loan Guarantee Program (Section 108), will be used to finance the construction of the Centennial Project in downtown Cleveland. Cleveland will use the Section 108…
HUD and Census Bureau: New Residential Sales Report for December 2022 Released
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for December 2022: New Home SalesSales of new single‐family houses in December 2022 were at a seasonally adjusted annual rate of 616,000, according to estimates released jointly by the U.S. Census Bureau and…