The Senate today confirmed Brian Montgomery as commissioner of the Federal Housing Administration (FHA) with a vote of 74-23. This marks Montgomery’s second term as FHA commissioner after he held the position under former President George W. Bush and for six months under President Barack Obama. Montgomery was also acting secretary of the U.S. Department of Housing and Urban Development (HUD).
The U.S. Department of Housing and Urban Development (HUD) today announced $2.6 billion in annual funding to housing authorities in all 50 states, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands through the Capital Fund program. The funds are meant to help public housing authorities make large-scale improvements to build, repair, renovate and/or modernize their properties.
House Financial Services Housing and Insurance Subcommittee Chairman Sean Duffy, R-Wis., and Ranking Member Emanuel Cleaver, D-Mo., Tuesday introduced the Housing Choice Voucher Mobility Demonstration Act of 2018. H.R. 5793 would encourage Section 8 Housing Choice Voucher recipients to move to lower poverty neighborhoods in order to expand access to opportunity areas.
House Majority Leader Kevin McCarthy, R-Calif., and nine Republican colleagues introduced the Spending Cuts to Expired and Unnecessary Programs Act (H.R. 3) Wednesday, a bill that would rescind $15.4 billion in federal budget authority. Included in what the legislation would take is $151 million from the 2018 allocations for the Capital Magnet Fund, $41 million from the U.S.
The U.S. Department of Housing and Urban Development (HUD) issued a memo today announcing new guidelines for closing a Rental Assistance Demonstration (RAD) transaction after the RAD conversion commitment (RCC) is made. The memo, by HUD Office of Recapitalization Director Tom Davis, says agencies undergoing RAD conversions have 90 days to close their transactions after receiving the RCC unless granted an extension by HUD.
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