FHFA: Fannie Mae’s and Freddie Mac’s Duty to Serve Underserved Markets Plans for 2021 Announced
The Federal Housing Finance Agency (FHFA) today published the 2021 Underserved Markets Plans for Fannie Mae and Freddie Mac (the Enterprises) under the Duty to Serve (DTS) program. The Plans became effective January 1, 2021. FHFA issued a final rule in 2016 that implemented the DTS provisions as mandated by the Housing and Economic Recovery Act of…
HUD: Nearly $5 Million Awarded for Revitalization Plans in Eleven Neighborhoods
U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today awarded nearly $5 million to eleven communities to help create plans to redevelop severely distressed HUD assisted housing and revitalize neighborhoods. Funded through HUD’s Choice Neighborhoods program, these grants will help local leaders craft comprehensive, homegrown plans to revitalize and transform these neighborhoods. “Today’s…
FHFA: 2021 Affordable Housing Goals for Fannie Mae and Freddie Mac Announced
Also publishing an advance notice of proposed rulemaking seeking input on future housing goals rulemaking Today, the Federal Housing Finance Agency (FHFA) announced its 2021 affordable housing goals for Fannie Mae and Freddie Mac (the Enterprises). Due to the economic uncertainty related to the COVID-19 national pandemic, FHFA is announcing the benchmarks for calendar year…
HUD: $54.7 Million in Grants Awarded to Expand Development of New Rental Housing for Extremely Low-Income Persons with Disabilities
The U.S. Department of Housing and Urban Development today announced the award of over $54.7 million in capital advance and project rental assistance grants to 15 organizations, to expand the supply of affordable rental housing for extremely low-income persons with disabilities. The capital advance awards will support integrated affordable housing by providing funding for the…
HUD: Recovery Housing Program to Aid Americans Recovering from Substance Abuse Launched
The pilot program would provide housing and stability to those who are currently in recovery from substance abuse disorder U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson announced the publication of the Notice for HUD’s pilot Recovery Housing Program (RHP). The program was authorized by the SUPPORT Act to provide stable, temporary housing…
HUD: New Foster Youth Housing Vouchers Announced in 24 States
More than 1,000 Former Foster Youth Are Paving Their Own Way with a FYI Voucher U.S. Housing and Urban Development Secretary Ben Carson today announced $1.9 million for 235 former foster youth in the most recent round of grants for HUD’s Foster Youth to Independence (FYI) Initiative. Forty-three Public Housing Authorities (PHAs) in 24 states…
FHFA: 2021 Multifamily Loan Purchase Caps for Fannie Mae and Freddie Mac Announced
50 Percent of Cap Must be Mission-driven, Affordable Housing and Manufactured Housing Community Tenant Protections Added The Federal Housing Finance Agency (FHFA) today announced that the 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $70 billion for each Enterprise. The cap structure allows the Enterprises to offer a…
HUD: Manufactured Housing Safety and Affordability Strengthened with Revised Minimum Payments for State Oversight Programs
Final rule published today provides more equitable HUD funding for State Administrative Agencies The Department of Housing and Urban Development (HUD) published today a final rule in the Federal Register which provides a revised structure for the payments HUD makes to states participating as State Administrative Agencies in the manufactured housing program. State Administrative Agencies in 33 states are…
HUD: Rental Assistance Demonstration Generates More Than $10 Billion in Construction Activity to Preserve Affordable Housing
Today, the U.S. Department of Housing and Urban Development announced a major milestone for the Rental Assistance Demonstration (RAD) program, which has now facilitated more than $10 billion in capital investment since the program’s inception to improve or replace 140,000 public housing units – the majority of which house extremely low-income families, seniors, and persons…