HUD: FHA Takes New Step to Explore Increasing Availability of Small Balance Mortgages
Request for Information published today seeks industry input as a starting point to encourage greater origination of small balance mortgages for FHA insurance. The Federal Housing Administration (FHA) is announcing today the publication of a Request for Information (RFI) in the Federal Register seeking input on ways it can facilitate increased access to smaller balance mortgages through its Single…
HUD: 10th Anniversary of the Office of Housing Counseling Marked
The U.S. Department of Housing and Urban Development’s (HUD) Office of Housing Counseling today marks its tenth anniversary since being created as a distinct office reporting to HUD’s Assistant Secretary for Housing. Throughout October, the Office will celebrate the many contributions of HUD’s housing counseling program in helping individuals and families obtain and maintain safe,…
HUD: $5.4 Million Awarded to Public Housing Agencies to Correct Emergency Conditions
Set-Aside Funding Will Help Address Threats to the Health and Safety of Public Housing Residents The U.S. Department of Housing and Urban Development (HUD) today awarded $5.4 million to five Public Housing Agencies (PHAs) to correct emergency conditions that pose an immediate and imminent threat to the health and safety of public housing residents. The…
HUD: Section 202 Project Rental Assistance Renewal Contract Term Increases Announced
New, five-year rental assistance renewal contract terms reduce administrative barriers within program supporting housing for low-income seniors. The U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs announced its intent to begin issuing Section 202 Project Rental Assistance Contracts (PRACs) with renewal terms of up to five years rather than the one-year terms…
HUD and Census Bureau: New American Housing Survey Released
2021 Survey Provides Insights on Housing From the Height of the Pandemic In general, 2020 and 2021 were good for homeowners but presented challenges for many renters. That’s according to the new 2021 American Housing Survey released today by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. Every two…
HUD: Disaster Assistance Announced for Puerto Rico
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance, including a new package of waivers offering regulatory and administrative relief, to supplement Commonwealth and local recovery efforts in areas of Puerto Rico affected by Hurricane Fiona beginning on September 17, 2022, and continuing. As Puerto Rico endures…
HUD and Census Bureau: New Residential Sales Report for August 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 August 2022: New Home Sales Sales of new single‐family houses in August 2022 were at a seasonally adjusted annual rate of 685,000, according to estimates released jointly by the U.S. Census Bureau…
FHFA: New Rule Proposed to Help Enterprises Better Serve Colonias
Amendments will remove barriers to Enterprise Duty to Serve activities in high-needs rural regions The Federal Housing Finance Agency (FHFA) today proposed to amend the Agency’s Duty to Serve (DTS) Underserved Markets regulation to facilitate Fannie Mae and Freddie Mac’s (the Enterprises) activities related to serving colonias. “FHFA is committed to promoting affordability, equity, and…
HUD: $5 Million Awarded to Modify and Repair Low-Income Veterans’ Homes
Funding Expected to Support 330 Veterans with Low Incomes and Disabilities The U.S. Department of Housing and Urban Development (HUD), in partnership with the U.S. Department of Veterans Affairs, today awarded $5 million in $1 million allotments to five non-profits in support of the Veterans Housing Rehabilitation and Modification Pilot Program (VHRMP). The awardees of…
HUD: FHA Expands Access to Homeownership for First-Time Homebuyers Who Have Positive Rental History
Addition of positive rental payment history in TOTAL Mortgage Scorecard assessment criteria supports greater opportunity for first-time homebuyers to qualify for affordable FHA-insured mortgage financing. The Federal Housing Administration (FHA) is announcing today that it will begin to permit inclusion of a first-time homebuyer’s positive rental payment history as an additional factor in the credit assessment performed…