HUD: Rental Assistance Demonstration Conversion Transaction Closed with Franklin Housing Authority in Franklin, TN to Build 76 New Construction Affordable Rental Homes
RAD transaction supports construction of new affordable rental homes at Cherokee Place property The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing announced today that it has closed a Rental Assistance Demonstration (RAD) transaction with the Franklin Housing Authority in the City of Franklin, TN, Through RAD, the Housing Authority will newly…
HUD: Allocation Strategy and Program Requirements Released for New Stability Vouchers
Stability Vouchers Will Incentivize Public Housing Agencies to Partner with Communities to Address Unsheltered Homelessness and Homelessness in Rural Areas The U.S. Department of Housing and Urban Development (HUD) today issued a notice that explains the department’s non-competitive allocation strategy and program requirements for the new Stability Vouchers. Under the program, HUD will award up…
HUD: $41.3 Million in Housing Counseling Grants Awarded
Awards provide second-year funding for vital housing counseling services and ongoing support for professional development for the nation’s housing counselors The U.S. Department of Housing and Urban Development’s (HUD) Office of Housing Counseling is announcing today that it has awarded $41.3 million in grants to support the vital services performed by the nation’s housing counselors. The awards…
HUD: $25 Million Awarded to Stabilize Public Housing Agencies Facing Financial Shortfalls
The U.S. Department of Housing and Urban Development (HUD) today awarded $25 million to 181 public housing agencies (PHAs) experiencing or at risk of experiencing financial shortfalls. This Public Housing Operating Fund Shortfall funding, provided by the Fiscal Year 2022 Consolidated Appropriations Act, will enable PHAs to continue serving residents as they take steps to…
HUD and Census Bureau: New Residential Sales Report for July 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 July 2022: New Home Sales Sales of new single‐family houses in July 2022 were at a seasonally adjusted annual rate of 511,000, according to estimates released jointly by the U.S. Census Bureau…
HUD: FHA Implements Residential Care Facility “Green Mortgage Insurance Premium” Reductions
Guidance issued today explains how lenders participating in FHA’s Section 232 Mortgage Insurance for Residential Care Facility program can obtain mortgage insurance premium reductions on mortgages for eligible “green” facilities Federal Housing Commissioner: Green MIP pricing will “support the Biden-Harris Administration’s climate goals and HUD’s Climate Action Plan” The Federal Housing Administration (FHA) announced today…
FHFA: Updated Minimum Financial Eligibility Requirements for Enterprise Seller/Services and Ginnie Mae Issuers Announced
Today, the Federal Housing Finance Agency (FHFA) and Government National Mortgage Association (Ginnie Mae) issued a joint announcement of their updated minimum financial eligibility requirements for seller/servicers and issuers. Prompted by the changing nature of the U.S. housing finance system, these enhanced eligibility requirements reflect Ginnie Mae’s and FHFA’s shared goals to promote confidence in…
HUD: $34 Million Loan Guarantee Awarded to Cincinnati, OH for Affordable Housing
The U.S. Department of Housing and Urban Development (HUD) today announced a $34 million loan guarantee for Cincinnati, Ohio for the Affordable Housing Loan Fund Project to spur the creation of more affordable housing. This upfront source of financing, awarded through HUD’s Section 108 Loan Guarantee Program (Section 108) program, is the lynchpin of the…
HUD: $41 Million Awarded to Boost Local Affordable Housing and Community Development Efforts
The U.S. Department of Housing and Urban Development (HUD) announced today that it will make available $41 million for local affordable housing and community development activities that benefit people with low-incomes. The funding is being awarded through HUD’s Capacity Building for Affordable Housing and Community Development program, also known as Section 4. “President Biden’s top…
HUD: Deputy Secretary Travels to Alaska to Focus on Tribal Housing Supply
Nearly $285 million in HUD funding has been awarded to Tribal entities in Alaska over the past two years with more funding on the way The U.S. Department of Housing and Urban Development’s (HUD) Deputy Secretary Adrianne Todman was in Alaska this week to discuss Tribal housing supply with local leaders and organizations across the…