McCormack Baron Salazar Partners with Centene to Leverage $900MM to Build Affordable Housing

At the recent Fortune’s Brainstorm Health conference in Dana Point, CA, Centene—America’s biggest Medicaid insurer—pledged to help build approximately $900 million of affordable housing in eight states.

Fortune Well reported that at the conference, “Centene CEO Sarah London said that the Centene Foundation—the insurer’s philanthropic arm—struck a multiyear partnership with affordable housing developer McCormack Baron Salazar to provide below-market loans for housing units. The partnership will unlock $900 million in development funds and create thousands of housing units.”

Together they will create a platform to deliver community services critical to health determinants, such as grocery stores, community health clinics, community activity centers, early childhood education and other critical services surrounding affordable housing and residents’ health.

Sarah London’s presentation can be viewed here.

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).