HUD: FHA Insures $12 Million Mortgage for Urban Redevelopment of Affordable Multifamily Housing in Baltimore
Insurance endorsement provided by FHA supports affordable financing to create 87 rental homes throughout several lots The Federal Housing Administration (FHA) announced on March 17 the final endorsement and completed construction of a $12 million loan insured under FHA’s 221(d)(4) mortgage insurance program for Marshall Gardens in Baltimore, Maryland. The property was named after Thurgood…
HUD: Rental Assistance Demonstration Conversion Transaction Closed with the Housing Authority of Kansas City, MO to Create Mixed-Income Community
Transaction is final part of seven-phase Paseo Gateway redevelopment process The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing on February 25closed a Rental Assistance Demonstration (RAD) transaction with the Housing Authority of Kansas City, Missouri (HAKC) and Brinshore Development, to create 62 mixed-income homes at the new Sam Rodgers Place. Sam…
HUD: Over $2.4 Million Awarded to Fight Housing Discrimination Related to the Coronavirus Pandemic
Funds will support and promote fair housing nationwide The U.S. Department of Housing and Urban Development (HUD) announced today that it is providing $2,472,310 in American Rescue Plan (ARP) funding to help 11 HUD Fair Housing Initiatives Program (FHIP) agencies combat housing discrimination related to the COVID-19 pandemic. The funds, which are being awarded under…
HUD: Rental Assistance Demonstration Conversion Transaction Closed with the Cuyahoga Metropolitan Housing Authority
174 units of deeply affordable rental homes to be preserved for low-income seniors in Cleveland, Ohio The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing on February 28 announced that it has closed a Rental Assistance Demonstration (RAD) transaction with the Cuyahoga Metropolitan Housing Authority (CMHA) in Cuyahoga County, Ohio, to preserve…
HUD: FHA Insures $24.5 Million Mortgage for Affordable Multifamily Housing in Northeast Denver
Insurance endorsement provided by FHA supports affordable financing to create 119 rental homes The Federal Housing Administration (FHA) announced on [February 28] that it has closed on a $24.5 million loan insured under FHA’s 221(d)(4) new construction mortgage insurance program for Wildhorse Ridge in Denver, Colorado. The insured loan will be used to finance the…
FHFA: $1.1 Billion Announced for Affordable Housing Programs
Largest amount ever disbursed to Housing Trust Fund and Capital Magnet Fund Today, FHFA Acting Director Sandra L. Thompson announced that the Housing Trust Fund and Capital Magnet Fund will receive a total of $1.138 billion for affordable housing initiatives from Fannie Mae and Freddie Mac (the Enterprises). This is the largest amount ever provided…
HUD: FHA Removes Temporary COVID-19 Underwriting Mitigants for Multifamily Transactions
Resilient portfolio performance allows return to Multifamily Accelerated Processing Guide standard requirements for reserves, escrows, and cash-out refinance transactions The Federal Housing Administration (FHA) announced on Monday at the Mortgage Bankers Association Commercial/Multifamily Finance Convention & Expo that it is removing temporary COVID-19 underwriting mitigants for multifamily transactions insured under Section 223(f) of the National Housing Act,…
HUD: Landlord Incentives Cohort Announced for “Moving to Work” Demonstration
29 Public Housing Authorities Selected to Join the Demonstration, 70 PHAs now part of MTW Expansion The U.S. Department of Housing and Urban Development (HUD) on Thursday announced the Landlord Incentives cohort of the expansion of the Moving to Work (MTW) Demonstration Program. Through this cohort, HUD will evaluate landlord incentives and their impact on…
HUD: Notice Published to Extend Length of Housing Support to Foster Youth
The U.S. Department of Housing and Urban Development (HUD) on January 24, 2022, published a notice in the Federal Register implementing and providing guidance on the provisions of the Fostering Stable Housing Opportunities (FSHO) amendments as part of the Consolidated Appropriations Act of 2021. FSHO serves to help reduce the incidence of homelessness among former foster youth…