Chairwoman Waters, Senator Harris Introduce Housing is Infrastructure Act

House Committee on Financial Services Chairwoman Maxine Waters (D-CA) and Senator Kamala Harris (D-CA) introduced the Housing is Infrastructure Act of 2019 (H.R. 5187/S. 2951). The bills contain the following investments in housing:

$70 billion to fully address the public housing capital backlog;
$1 billion to fully fund the backlog of capital needs for the Section 515 and 514 rural housing stock;
$5 billion to support mitigation efforts that can protect communities from future disasters and reduce post-disaster federal spending;
$5 billion for the Housing Trust Fund to support the creation of hundreds of thousands of new units of housing that would be affordable to the lowest income households;
$100 million to help low income elderly households in rural areas age in place;
$1 billion for the Native American Housing Block Grant Program to address substandard housing conditions on tribal lands;
$10 billion for a CDBG set-aside to incentivize states and cities to eliminate impact fees and responsibly streamline the process for development of affordable housing;
$2.5 billion for the HOME Investment Partnership Program to fund affordable housing activities such as building, buying, and rehabilitating affordable homes for low-income people;
$2.5 billion for the Supporting Housing for Elderly (Section 202 Program);
$2.5 billion for Supportive Housing for persons with disabilities (811 Program); and
$2.5 billion to the Capital Magnet Fund for competitive grants to Community Development Financial Institutions to finance affordable housing and community revitalization efforts.

HUD Releases HOME Monthly Reports

HUD has announced that the latest HOME Monthly Reports, as of November 30, 2024, are now available. Why it matters: These reports are crucial for Participating Jurisdictions (PJs) to effectively track and manage their housing initiatives. Details: The bottom line: These reports empower PJs to optimize their housing strategies, ensuring effective use of resources and […]

Ginnie Mae’s FY24 Annual Financial Report

Ginnie Mae has released its Fiscal Year 2024 (FY24) Annual Financial Report, and the numbers and initiatives are making an impact. Here are a few key takeaways:

Workforce Housing Debt Financing Updates

The northeast regional affordable housing community had the opportunity to receive an update on agency executions for workforce housing from PGIM’s Michael Lostocco at the NH&RA Fall Developers Forum. Fannie Mae and Freddie Mac have developed voluntary programs aimed at addressing housing affordability, particularly for middle-income renters.

FHFA Unveils Enterprises’ Three-Year Plans to Improve Housing Opportunities for the Underserved

Fannie Mae and Freddie Mac (the Enterprises) will seek to extend housing access in rural underserved markets, enhance their support for manufactured housing and continue addressing liquidity needs for first-time homebuyers, among a host of activities outlined in plans published by the Federal Housing Finance Agency (FHFA).