HUD

HUD submitted a notice in the Federal Register requesting comments on technical processing requirements for multifamily project mortgage insurance.

HUD recently released the final rule (24 CFR Part 891) in the Federal Register governing the use of funding for Section 202 Supportive Housing for the Elderly Program (Section 202) and the Section 811 Supportive Housing for Persons with Disabilities Program (Section 811) to streamline the requirements applicable to Section 202 and Section 811 mixed-finance developments.

President Obama’s Hurricane Sandy Rebuilding Task Force, chaired by HUD Secretary Shaun Donovan, recently released a rebuilding strategy to serve as a model for communities across the nation facing greater risks from extreme weather and to continue helping the Sandy-affected region rebuild.

HUD recently released Notice H 2013-23 to revise the financial reporting requirements for small multifamily housing projects. This Notice, which comes as a part of the White House’s Rental Policy Working Group’s (RPWG) changes to auditing standards and requirements, would relieve owners of small multifamily projects of submitting audited financial statements.

The U.S. Department of Agriculture (USDA) has announced that Tammye Treviño, who most recently served as Administrator of the Rural Housing Service (RHS), has left the agency to become Regional Director of the Department of Housing and Urban Development’s (HUD’s) Region VI, based in Texas.

A recent report conducted by Rapoza Associates entitled “The Low-Income Housing Tax Credit: Overcoming Barriers to Affordable Housing in Rural America” examines the importance of the Low-Income Housing Tax Credit (LIHTC) in the developing and preserving affordable housing in rural communities.

HUD recently released its proposed fiscal year (FY) 2014 fair market rents (FMRs) for the Housing Choice Voucher (HCV) and Moderate Rehabilitation Single Room Occupancy programs.

House Finance Services Chairman Jeb Hensarling (R-TX) recently announced intentions to introduce the Protecting American Taxpayers and Homeowners (PATH ) Act, a measure which according to Hensarling, would create a more sustainable housing finance system.

On Tuesday, August 6, President Obama delivered a speech in Phoenix, Arizona detailing his plan for promoting a strong and stable housing market. The speech addressed several core principles but mainly focused on balancing housing policy to support both sustainable homeownership options and affordable rental opportunities.

HUD recently released a proposed rule to clarify and expand the Affirmatively Furthering Fair Housing (AFFH) obligations of HUD program participants in accordance with the Fair Housing Act. HUD is proposing this long overdue rule because the current practice of affirmatively furthering fair housing, which involves an analysis of impediments to fair housing choice and a certification that the grantee will affirmatively further fair housing, has not been as effective as envisioned.

HUD’s director of Multifamily Development, Theodore Toon, recently issued a memo to provide guidance on Federal Housing Administration (FHA) and MAP Guide policy regarding age restrictions in FHA-insured housing.

Federal Housing Administration (FHA) Commissioner Carole Galante recently announced leadership changes in the Office of Multifamily Housing including the resignation of Marie Head from the role of Multifamily Deputy Assistant Secretary and the promotion of Ben Metcalf to replace Ms. Head.