General News

On Monday August 22, 2011, the Federal Housing Administration (FHA) issued an updated version of its Multifamily Accelerated Processing (MAP) Guide. The was updated in response to a significant increase in demand for FHA insured multifamily development loans for the current fiscal year. This year alone, the FHA has insured almost 1,100 loans nearing $10.5 billion, which is about seven times greater than the demand for FHA insured loans from three years ago. In order to meet this new demand, the new guide will help expedite and better manage the processing of new loan applications.

The North Carolina Housing Finance agency has released the first draft of its 2012 QAP as well as a summary of major revisions to the 2012 plan.

I am pleased to let you know about some important changes to Housingonline.com. NH&RA has implemented a dynamic new communications and database platform which is now integrated with our website www.housingonline.com. This new system provides our members and friends with exciting new tools to better manage your membership, benefits and communications preferences. It utilizes “self-service administration” technology that will allow you to update your personal information, contact preferences, professional interests, purchase products, register for events, fill out surveys, view and pay outstanding invoices and much more…

The National Housing & Rehabilitation Association has signed a letter, joined by numerous organizations, rebutting a proposal by Sen. Tom Coburn (R-Okla.) to eliminate the federal low-income housing tax credit (LIHTC) program.

The U.S. Department of Housing and Urban Development (HUD) has released the proposed fair market rents (FMRs) for fiscal year 2012.

On Tuesday, the U.S. Department of Commerce stated that total housing starts for the month of July dropped 1.5 percent but starts on multi-family housing projects increased by 7.8 percent to 179,000 units.

The U.S. Census Bureau has released a white paper that proposes options for the uses and flexibility of the new data sample for the 2015 American Housing Survey (AHS).

HUD’s Office of Policy Development & Research has released the latest U.S. Housing Market Conditions report for the second quarter of 2011.

Freddie Mac recently released its U.S. Economic and Housing Market Outlook for August 2011, which indicates that, despite the recent ups and downs in the capital markets, the likelihood of an extended period of both relatively low short- and long-term interest rates is helpful news for the housing market’s recovery as it continues to struggle.

The California Supreme Court has issued a partial stay that halts the dismantling of the state’s redevelopment agencies. The stay is in response to a lawsuit that challenges the validity of eliminating the redevelopment agencies.

The American Council for an Energy Efficient Economy (ACEEE) has released a white paper entitled, “Energy Efficiency Finance 101: Understanding the Marketplace.”

WHEDA’s six part series on processing HUD Section 8 Contract Renewals and Rent Adjustments is now available through their website here.