HUD: FHA Takes Additional Steps to Expand Affordable Housing Supply through FHA’s Claims without Conveyance of Title
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 adds an initial 30-day exclusive…
HUD: Innovative “Faircloth-to-RAD” Initiative on Track to Create Nearly 1,850 Affordable Housing Units
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” initiative, a new pathway that…
ABA: Foundation Encourages Banks to Submit Nominations for 10th Annual Community Commitment Awards
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 last 10 years, ABA has…
FHFA: Fannie Mae and Freddie Mac Duty to Serve Underserved Markets Plans for 2022-2024 Announced
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 Plans build on lessons…
HUD: Support for Washington D.C.’s “Solar for All” Program Announced
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 that HUD is ensuring an…
HUD: FHA Insures $65.5 Million Mortgage for Energy Efficient Transit-Oriented Development in Roselle, IL
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 will help finance the construction…
OCC: Project REACh Efforts Launched in Milwaukee
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, business, and technology to identify…
HUD: Rental Assistance Demonstration Conversion Transaction Closed with the Housing Authority of the City of Tampa, Florida
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 (THA) in Tampa, Florida, to…
FHFA: Strategic Plan for Fiscal Years 2022 through 2026 Finalized
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 Enterprises). The Strategic Plan continues existing priorities…
HUD: First-Ever HUD-Held Single Family Note Sale Announced Exclusively for Mission-Driven Nonprofits and State or Local Governments
June 8 competitive bid sale of approximately 1,450 vacant property notes furthers Biden-Harris Administration objectives to return more properties to future owner-occupancy. The U.S. Department of Housing and Urban Development’s Office of Asset Sales announced on Tuesday that it will conduct a competitive bid HUD-held vacant note sale (HVLS 2022-2) on June 8, 2022. The sale…