HUD Proposes Regulations to Raise Targeted Lending Requirements for GSEs

Thursday, April 8, 2004 - 1:45am

The U.S. Department of Housing and Urban Development (HUD) last week issued guidance to to public housing authorities (PHAs), participating landlords and residents regarding the implementation of a provision in HUD’s 2004 Appropriations Act that modifies the method for renewing existing Section 8 vouchers. The National Association of Housing and Redevelopment Officials (NAHRO) says HUD has proceeded with a “narrow interpretation” of the congressional mandate despite appeals by members of Congress, Gov. Mitt Romney (R-Mass.), public housing agencies, voucher-assisted households, participating property owners and housing industry groups. The National Multi Housing Council (NMHC) warns that thousands of existing voucher holders could lose their housing subsidies and property owners will be “put in an untenable situation.” Under current projections, HUD says it expects fewer than half of 2,500 public housing authorities that participate in the Housing Choice Voucher Program will experience any change. Click here for a copy of PIH Notice 2004-7.