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…
HUD: Better Climate Challange Announced
Secretary Fudge Announces Inaugural Low Carbon Multifamily Housing Partners Today, Housing and Urban Development (HUD) Secretary Marcia L. Fudge joined Department of Energy (DOE) Secretary Jennifer M. Granholm and White House National Climate Advisor Gina McCarthy to announce the inaugural Better Climate Challenge, a private-public partnership led by DOE with over 80 American businesses and…
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: Disaster Assistance Announced for Iowa Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance to supplement state and local recovery efforts in the areas of Iowa affected by severe storms, straight-line winds, and tornadoes on December 15, 2021. On February 23, President Biden issued a major disaster declaration for the counties of Appanoose, Audubon,…
HUD: Disaster Assistance Announced for Nebraska Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance to supplement state and local recovery efforts in the areas of Nebraska affected by severe storms, straight-line winds, and tornadoes on December 15, 2021. On February 23, President Biden issued a major disaster declaration for the counties of Adams, Buffalo,…
HUD: Statement on Black Homeownership Remaining Lower than a Decade Ago Despite the U.S. Homeownership Rate Experiencing Largest Annual Increase on Record
U.S. Housing and Urban Development Secretary Marcia L. Fudge on Thursday released the following statement on the National Association of Realtors®’ (NAR) 2022 Snapshot of Race and Home Buying in America report, which examines current racial disparities in the housing market. “Today, homeownership is the principal source of wealth creation for most American households. Unfortunately, NAR’s report…
Interagency Statment Released on Special Purpose Credit Programs Under ECOA and Regulation B
The Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), the Consumer Financial Protection Bureau (CFPB or Bureau), the Department of Housing and Urban Development (HUD), the Department of Justice (DOJ), and the Federal…
HUD: Disaster Assistance Announced for Hawaii Disaster Survivors
The U.S. Department of Housing and Urban Development (HUD) today announced the implementation of federal disaster assistance to supplement state and local recovery efforts in the areas of Hawaii affected by severe storms, flooding, and landslides during the period of December 5 and December 10, 2021 On February 15, President Biden issued a major disaster declaration for…
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: 2021 Annual Homeless Assessment Report Part 1 Released
Report Suggests that COVID-19 Relief Had Positive Impacts on Sheltered Homelessness The U.S. Department of Housing and Urban Development (HUD) today released its 2021 Annual Homeless Assessment Report Part 1 to Congress. The report found that more than 326,000 people experienced sheltered homelessness in the United States on a single night in 2021, a decrease of…