HUD: New Incentive Package Announced for Purchase or Rehabilitation of Single Family Properties in Opportunity Zones
FHA policy announcement will encourage purchase and rehabilitation of homes in distressed neighborhoods U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced that the Federal Housing Administration (FHA) will offer a new incentive for borrowers interested in rehabilitating homes in Opportunity Zones. FHA is effectuating this through an expansion of its Limited…
HUD: More than $130 Million Awarded to Provide Affordable Housing to People with Disabilities
The U.S. Department of Housing and Urban Development (HUD) today awarded $131.3 million to 325 local public housing authorities across the country to provide affordable housing to approximately 15,363 additional non-elderly persons with disabilities. Secretary Ben Carson made the national announcement during a visit to Detroit, Michigan. The Detroit Housing Commission received $597,629 to serve…
HUD and Census Bureau: Residential Construction Activity Report for October 2019
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for October 2019. Building Permits Privately owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,461,000. This is 5.0 percent (±1.7 percent) above the revised…
HUD: FHA Releases 2019 Annual Report to Congress
MMI Fund Capital Ratio continues to exceed the statutory minimum – strongest since 2007 The Federal Housing Administration (FHA) today released its 2019 Annual Report to Congress on the economic condition of the agency’s Mutual Mortgage Insurance Fund (MMI Fund). FHA reports that at the end of Fiscal Year (FY) 2019, The FHA MMI Fund Capital Ratio…
HUD: Trump Administration Announces Continued Decline in Veteran Homelessness
Since last year, 793 more veterans now have a roof over their heads During a press conference today at Harbor Homes in Manchester, New Hampshire, U.S. Housing and Urban Development (HUD) Secretary Ben Carson announced veteran homelessness in the U.S. continues to decline according to a new national estimate. HUD’s Annual Homeless Assessment Report indicates…
HUD: $1.5 Million Awarded to Public Housing Authorities to Assist Young People Aging Out of Foster Care
U.S. Housing and Urban Development (HUD) Secretary Ben Carson today awarded $1.5 million to nearly a dozen housing authorities to assist young people aging out of foster care and who are at risk of experiencing homelessness. See chart here. Funded through HUD’s new Foster Youth to Independence (FYI) Initiative, this funding will offer housing vouchers to…
HUD: Justice Department and HUD Sign Interagency Memorandum on the Application of the False Claims Act
Agreement Fulfills Key component of HUD Housing Finance Reform Plan U.S. Housing and Urban Development Secretary Ben Carson and U.S. Attorney General William Barr today issued a Memorandum of Understanding (MOU) between the two agencies that sets prudential guidance on the appropriate use of the False Claims Act (FCA) for violations by Federal Housing Administration…
HUD and Census Bureau: New Residential Sales Report for September 2019
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 September 2019: New Home Sales Sales of new single-family houses in September 2019 were at a seasonally adjusted annual rate of 701,000. This is 0.7 percent (±16.1 percent)* below the revised August…
HUD: Evaluation of Rental Assistance Demonstration Released
RAD found to significantly boost capital investment and improve conditions of distressed public housing In 2012, the U.S. Department of Housing and Urban Development (HUD) embarked upon a new program to address the critical capital needs of severely distressed public housing. Today, HUD released the results of an evaluation of the Department’s Rental Assistance Demonstration, a…
HUD and Census Bureau: Residential Construction Activity Report for September 2019
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for September 2019. Building Permits Privately owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,387,000. This is 2.7 percent (±1.3 percent) below the revised…