News

The Federal Housing Finance Agency (FHFA) announced the authorization of disbursements from Fannie Mae and Freddie Mac to the National Housing Trust Fund (NHTF) and Capital Magnet Fund (CMF). The NHTF will receive $244.86 million and the CMF will receive 131.84 million.

The House Financial Services Committee (HFSC) passed the Ending Homelessness Act (H.R. 1856) with a 32-26 vote. The legislation provides $13.27 billion in new funding over five years to federal programs and initiatives to prevent homelessness. It includes funding for new units of affordable housing, new vouchers, case management and technical assistance.

The Opportunity Starts at Home campaign released the results of a national public opinion poll showing that the vast majority of the public (85 percent) believes that ensuring everyone has a safe, decent and affordable place to live should be a “top national priority.”

HUD revised the Quick Reference Guide for Environmental Review Requirements for RAD Conversions. This version provides a more streamlined organization of information, incorporates frequently asked questions and introduces simplified environmental reviews for RAD conversions to PBRA that do not entail any work.

HUD announced that it charged Facebook with violating the Fair Housing Act by encouraging, enabling and causing housing discrimination through the company’s advertising platform. HUD alleges that Facebook unlawfully discriminates based on race, color, national origin, religion, familial status, sex and disability by restricting who can view housing-related ads on Facebook’s platforms and across the internet.

The Community Development Financial Institutions Fund (CDFI) Fund updated its Frequently Asked Questions (FAQ) document for New Markets Tax Credit (NMTC) Program compliance. This document supersedes the May 2017 publication of the FAQ document by adding, revising, or updating select questions from the earlier edition.

The Treasury’s Community Development Financial Insinuations (CDFI) Fund released its fiscal year (FY) 2018 Year in Review. CDFI Program award recipients last year reported $11.1 billion of lending and investment activity – an increase of nearly 50 percent over the activity reported in FY 2017.

On March 26 and 27 the full Senate Committee on Banking, Housing and Urban Affairs held hearing on Chairman Mike Crapo’s (R-ID) Housing Finance Reform Outline. At the March 26 hearing Chairman Crapo said he wants to “bring to a close the conservatorship era.” Former Acting FHFA Director Edward DeMarco stated that “the outline captures the consensus elements of prior reform proposals and serves as a solid workable foundation from which to develop legislation.” At the March 27 hearing Chairman Crapo said he “considers Housing Finance Reform to be a top priority for the Banking Committee this Congress” and that “the status quo is simply not a valid viable option.”

Join the Federal Home Loan Bank (FHLB) of Chicago staff to learn more about the 2019 competitive Affordable Housing Program (AHP). Workshops cover eligibility, project feasibility and changes to the scoring guidelines. Member institutions, potential sponsors and project consultants are encouraged to attend.

Oregon Housing and Community Services (OHCS) opened a Land Acquisition Program (LAP) in November of 2018 with $2.5 million in available resources. This program is designed to provide loans for purchasing land for affordable homeownership and affordable rental housing. Loan periods may not exceed 8 years and loan terms are 1 percent simple interest and a 1 percent loan fee is paid at the time of the construction loan.

The California Department of Housing and Community Development (HCD) announced awards totaling $302 million from the No Place Like Home program. HCD also announced awards totaling $11 million from the federal Emergency Solutions Grants (ESG) program.

Nashville Mayor David Briley unveiled his 10-year housing plan, Under One Roof 2029. The initiative aims to create at least 10,000 new units by investing $750 million over the next 10 years in affordable housing in Nashville, with $500 million of that coming from the city.