Recent News
The Federal Housing Finance Agency (FHFA) today invited public comment on proposed modifications to Fannie Mae and Freddie Mac’s 2018-2020 duty to serve underserved markets plan. Fannie Mae’s proposal includes modifying actions to reflect revised rural investment targets based on enhanced market insight and experience since re-entering the low-income housing tax credit (LIHTC) equity market.
The Federal Housing Administration (FHA) today announced that it is extending its multifamily risk-sharing initiative with the Federal Financing Bank for eligible housing finance agencies (HFAs) through the end of 2018, a decision that will likely reduce the cost of FHA-insured multifamily risk-sharing loans. The risk-sharing initiative was originally scheduled to stop accepting new applications from HFAs at the end of September, but will now accept applications through Dec. 31 for commitments up to the program maximum of $3 billion.
Sen. Elizabeth Warren, D-Mass., today introduced the American Housing and Economic Mobility Act of 2018, legislation that would invest $445 billion in the Housing Trust Fund, $523 billion in rural housing programs and strengthen provisions in the Community Reinvestment Act to hold more financial intuitions accountable and strengthen sanctions for failure to follow rules.
Combined tax-exempt private activity bond (PAB) issuance for multifamily and single-family housing set a record in 2017, according to a report issued today by the Council of Development Finance Agencies (CDFA). The combined multifamily and single-family total was $21 billion, an increase of $2.5 billion from 2016.
U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson today announced that HUD’s Rental Assistance Demonstration (RAD) program has preserved 100,000 units. The RAD program provides public housing authorities with access to private investment to preserve public housing properties and address the backlog of deferred maintenance.
Recent Updates
