Insurance endorsement provided by FHA supports substantial rehabilitation of 32 units serving 55+ residents at 30%, 45%, 50%, and 60% of the area median income. The Federal Housing Administration (FHA) announced on May 13, that it has closed on a $8.2 million mortgage insured under FHA’s 221(d)(4) Substantial Rehabilitation program […]
Mortgagee Letter supports the Biden-Harris Administration’s efforts to increase the supply of affordable housing and expand access to homeownership for low- and moderate-income homebuyers. The Federal Housing Administration (FHA) announced on Thursday that it published Mortgagee Letter (ML) 2022-08, Expanding Affordable Housing Supply Through FHA’s Claims Without Conveyance of Title. The ML […]
Rental Assistance Demonstration (RAD) unlocks the creation of deeply affordable housing in support of Administration objectives to increase rental housing supply for some of the nation’s most vulnerable populations This week, the U.S. Department of Housing and Urban Development (HUD) commemorated the first anniversary of the creation of the “Faircloth-to-RAD” […]
The ABA Foundation is seeking submissions for its 10th annual Community Commitment Awards. The awards, one of the industry’s highest honors for extraordinary community engagement, recognizes innovative, high-impact bank programs that improve the quality of life for customers banks serve. The entry period for submitting nominations ends July 1. “Over the […]
The Federal Housing Finance Agency (FHFA) today published the 2022-2024 Underserved Markets Plans for Fannie Mae and Freddie Mac (the Enterprises) under the Duty to Serve (DTS) Program. The DTS Plans demonstrate a strengthened commitment to serving manufactured housing, affordable housing preservation, and rural housing. The targets and strategies in […]
The U.S. Department of Housing and Urban Development (HUD) today announced its support for Washington, D.C.’s “Solar for All” program to ensure that residents of HUD-assisted properties in the District are able to access the program without experiencing an increase in their housing costs. “This opportunity highlights the many ways […]
Insurance endorsement provided by FHA supports creation of 295 new construction rental homes The Federal Housing Administration (FHA) announced today, April 21, that it has closed on a $65.9 million loan insured under FHA’s 221(d)(4) New Construction Mortgage insurance program for Metro 19 Apartments in Roselle, Illinois. The insured loan […]
Acting Comptroller of the Currency Michael J. Hsu today joined civic and community advocates, bankers, and business leaders to launch Milwaukee REACh. The Office of the Comptroller of the Currency (OCC)’s Project REACh, the Roundtable for Economic Access and Change, brings together leaders from the banking industry, civil rights organizations, […]
Part of large-scale redevelopment master plan in the West River neighborhood that will feature a total of 670 homes. The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing on April 14 closed a Rental Assistance Demonstration (RAD) transaction with the Housing Authority of the City of Tampa […]
The Federal Housing Finance Agency (FHFA) today issued the FHFA Strategic Plan: Fiscal Years 2022-2026 (Strategic Plan). The Strategic Plan provides a framework that outlines the Agency’s priorities for the coming years as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac (the […]