HUD: Over $1.4 Million in Housing Assistance Awarded for Foster Youth During National Foster Care Month
The U.S. Department of Housing and Urban Development (HUD) announced over $1.4 million in housing assistance through the Foster Youth to Independence (FYI) initiative for youth transitioning out of foster care who are experiencing or at risk of experiencing homelessness. May marks National Foster Care Month, a time to renew the commitment to ensuring all…
FHFA: Membership in the Network of Central Banks and Supervisors for Greening the Financial System Announced
The Federal Housing Finance Agency (FHFA) today announced its membership in the Network of Central Banks and Supervisors for Greening the Financial System (NGFS). Recognizing the increasing risk to property from climate change, including severe structural damage caused by hurricanes, tornadoes, floods, droughts and wildfires, FHFA Acting Director Sandra L. Thompson issued a statement in December 2021 that…
HUD: Eviction Protection and Diversion Program Expanded with Additional $20 Million
The U.S. Department of Housing and Urban Development (HUD) on Monday announced $20 million in new grants for its Eviction Protection Grant Program, doubling the amount originally allocated for the launch of the Program in November 2021. HUD has offered grants to 11 organizations, in addition to the 10 organizations selected in November, to help non-profits…
Joint Statement on Continued Efforts to Connect Homeowners to Pandemic Relief Issued
The Secretaries of Housing and Urban Development Marcia L. Fudge, Veterans Affairs Denis McDonough, Agriculture Tom Vilsack and Treasury Janet L. Yellen are calling on servicers of federally backed mortgages to make every effort to ensure no individual or family unduly experiences unnecessary hardship or foreclosure while assistance is available under the Homeowner Assistance Fund. The…
HUD: Disaster Assistance Announced for New Mexico Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance to State and local recovery efforts in the areas of New Mexico affected by wildfires and straight-line winds beginning on April 5, 2022, and continuing. On May 4, President Biden issued a major disaster declaration for the counties of Colfax,…
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…
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 and Census Bureau: New Residential Sales Report for March 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 March 2022: New Home Sales Sales of new single‐family houses in March 2022 were at a seasonally adjusted annual rate of 763,000, according to estimates released jointly today by the U.S. Census…
FHFA: House Price Index Up 2.1 Percent in February 2022; Up 19.4 Percent from Last Year
House prices rose nationwide in February, up 2.1 percent from the previous month, according to the latest Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices rose 19.4 percent from February 2021 to February 2022. The previously reported 1.6 percent price change for January 2022 remained unchanged. For the nine census divisions, seasonally adjusted monthly…