HUD

The Government Accountability Office (GAO) issued a new report Housing Finance: Prolonged Conservatorships of Fannie Mae and Freddie Mac Prompt Need for Reform. The report, prepared for Chairwoman of the House Committee on Financial Services Maxine Waters (D-CA) and Congressman Sean Duffy (R-WI), calls on Congress to “consider legislation for the future federal role in housing finance that addresses the structure of the enterprises, establishes clear, specific, and prioritized goals and considers all relevant federal entities, such as FHA and Ginnie Mae.”

The Oregon Housing and Community Services (OHCS) released Notices of Funding Availability (NOFA) for the development and preservation of affordable rental through the HOME Investment Partnership program (NOFA #5003) and the 9% Low Income Housing Tax Credit (NOFA #5002). Applicants for both NOFAs must schedule a required site visit. To initiate scheduling the required site […]

The US House of Representatives passed two appropriations bills that would fund the Departments of Transportation, HUD, and Related Agencies (H.R. 267) as well as the Departments of Agriculture, Rural Development, Food and Drug Administration, and Related Agencies (H.R. 265). H.R. 267 passed with a vote of 244-180, with twelve Republicans voting in favor of […]

HUD announced Ginnie Mae’s executive vice president and chief operations officer Michael Bright will be stepping down on January 16 and has requested that his nomination for president of Ginne Mae be withdrawn. Maren Kasper, current executive vice president of Ginnie Mae, will serve as the acting president upon Bright’s departure. Bright has been hired […]

HUD’s office of multifamily housing issued two memos regarding its operation during the partial government shutdown. The first memo details Federal Housing Administration (FHA) mortgage insurance applications and production activities and the second memo details multifamily asset management activities.

The Federal Financing Bank (FFB) multifamily risk-sharing initiative with Housing Finance Agencies (HFAs) officially ended on Dec. 31, 2019. In February of 2018, HUD announced that it would end the FFB financing initiative on Sept. 30, 2018. In September of 2018, HUD then granted an extension through the end of the year to review the program’s effectiveness.

A new report from the Center on Budget and Policy Priorities and the Poverty & Race Research Action Council examines where families with children use housing vouchers in the 50 largest metropolitan areas. This report is the first metropolitan-level analysis to explore the concentration of families using vouchers across multiple neighborhood characteristics.

HUD issued a notice of Fiscal Year (FY) 2019 Annual Adjustment Factors (AAFs) for certain properties in HUD’s Section 8 housing assistance payment (HAP) programs. The AAFs are provide annual adjustments to rents based on data from the Bureau of Labor Statistics Consumer Price Index survey.

Congress is readying a short-term continuing resolution that would fund the government through Feb. 8 and avert a partial government shutdown on Friday, Dec. 21. Seven appropriations subcommittee bills, including Transportation-HUD, still have yet to receive funding for all of Fiscal Year (FY) 2019. Five of the twelve appropriations subcommittee bills are funded for all of FY 2019 and won’t need a CR to continue operating.

The 2019 Rental Assistance Demonstration (RAD) rents are now available, which will be used any new awards issued starting in 2019.

HUD recently issued Notice 2018-10 that details best practices to help ensure guest suite use is consistent with National Housing Act prohibitions against transient or hotel use of multifamily properties. HUD acknowledges guest suites as an amenity may contribute to the marketability of certain multifamily projects.

The House Financial Services Committee (HFSC) will hold a hearing on “A Legislative Proposal to Provide for a Sustainable Housing Finance System: The Bipartisan Housing Finance Reform Act of 2018” on Friday, Dec. 21 at 9 a.m. EST in Rayburn House Office Building, room 2128.