General News

Federal Housing Finance Agency (FHFA) Director Edward DeMarco recently sent a letter to ranking members of the House Financial Services Committee and Senate Banking, Housing and Urban Affairs Committee regarding the federal conservatorship of mortgage finance giants Fannie Mae and Freddie Mac

Secretary of the Treasury Timothy Geithner recently announced a new initiative under the Troubled Asset Relief Program (TARP) that would effectively offer better terms to regulated CDFIs than are available to commercial banks and facilitate investment of low-cost capital in CDFIs that lend to small businesses in distressed communities.

The U.S. Treasury Department and Community Development Financial Institutions (CDFI) Fund are seeking public responses by April 5 to questions relating to a planned new information collection project for the federal new markets tax credit program.

The U.S. Department of Housing and Urban Development has adjusted its statutory mortgage limits for its multifamily housing loan programs for calendar 2010, effective January 1, 2010. The limits are adjusted annually based on changes in an index.

HUD Secretary Shaun Donovan has announced the launch of HUD’s new Office of Sustainable Housing and Communities (OSHC). The office will be overseen by HUD Deputy Secretary Ron Sims. OSHC is designed to help build stronger, more sustainable communities by connecting housing to jobs, fostering local innovation and building a clean energy economy. Funded by Congress for the first time in HUD’s 2010 Budget, OSHC is a key component of the Obama Administration’s Partnership for Sustainable Communities.

Financial Services Committee Chairman Barney Frank (D-MA) announced today the committee will hold a hearing on March 2 to begin the process of considering the future of housing finance. The hearing will focus on all the private and public entities that support the mortgage market, which include the Federal Housing Administration, Ginnie Mae, Fannie Mae, Freddie Mac, Federal Home Loan Banks, and private lenders and securitizers.

HUD’s Office of Policy Development and Research has updated its comprehensive profile of subsidized housing in the United States. The Picture of Subsidized Households 2008 data set describes the nearly 5 million households living in HUD-subsidized housing in the United States in 2008.

Missouri Housing Development Commission (MHDC) Executive Director Pete Ramsel recently announced his resignation from MHDC, effective March 1.

U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau recently announced that they will be redesigning the American Housing Survey. Planned changes will be incorporated in 2011, 2013 and 2015.

Following approval by the U.S. Senate on December 13, Congress completed final action on a consolidated $446.8 billion omnibus appropriations bill (HR 3288) for Fiscal Year 2010. The measure was sent to President Obama on December 15 for his expected signature.

The Obama Administration’s FY 2011 Budget Proposal would slash funding for several key programs providing financial assistance for historic preservation efforts.

NH&RA’s HOPE VI Council will convene to discuss pertinent issues and activities during the 2010 Affordable Housing Conference & Annual Meeting, March 11-13 at the Ritz-Carlton South Beach in Miami, Florida.