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HUD Releases Proposed HOME Program Rule

HUD recently published a new proposed rule for the HOME Investment Partnership Program intended to amend program regulations, address operational challenges, and update program property standards, while clarifying existing requirements and establishing new requirements to improve program ... read more...

Temporary Payroll Tax Cut Continuation Act of 2011

The President signed into law the Temporary Payroll Tax Cut Continuation Act of 2011, on December 23rd.  This is a bill which included a two-month extension of the payroll tax holiday and unemployment insurance benefits, as well as other provisions. The $30 billion year-end tax extenders bill ... read more...

RENTAL POLICY WORKING GROUP RELEASES REPORT

On December 31st, The Rental Policy Working Group (RPWG) released its administrative proposals for the alignment of federal affordable rental housing programs. The report, called “Federal Rental Alignment Administrative Proposals” proposes ways to reduce the cost and burden of various ... read more...

Proposed Regulatory Improvements to the HOME Investment Partnerships Program

The U.S. Housing and Urban Development (HUD) is proposing new regulatory requirements for the HOME Investment Partnerships Program to boost the program’s performance and accountability. The HOME Investment Partnerships Program provides approximately $2 billion to states and localities to ... read more...

Appropriations Minibus Bill Passed in Senate

By a vote of 69 to 30, the United States Senate passed the appropriations minibus bill, H.R. 2112, which contains the FY2012 spending bills for Agriculture, Commerce-Justice-Science (CJS), and Transportation, and Housing and Urban Development (T-HUD).  The bill includes significant cuts to the ... read more...

Senators Questioning How Real Estate Owned (REO) Properties will be Managed to Stabilize Housing

A group of senators are asking questions about the Request for Information (RFI) issued in August by the Federal Housing Finance Agency (FHFA), the Department of Housing and Urban Development (HUD) and the Department of the Treasury regarding proposals on managing real estate owned (REO) ... read more...

25th Anniversary of the Low Income Housing Tax Credit (LIHTC) Program

This month marks the 25th anniversary of the federal Low Income Housing Tax Credit (LIHTC) program, which was part of the Tax Reform Act of 1986 signed into law by Ronald Reagan on Oct. 22, 1986. Created to attract private financing for the construction and rehabilitation of affordable housing ... read more...

Changes to the Home Affordable Refinance Program (HARP)

The Federal Housing Finance Agency (FHFA) is modifying the Home Affordable Refinance Program (HARP) to enable more borrowers to refinance their mortgage at low interest rates. In an effort to avoid future mortgage defaults and reduce credit losses for Fannie Mae and Freddie Mac, the Home ... read more...

The U.S. Department of Housing and Urban Development (HUD) Announces Self-Help Homeownership Opportunity Program (SHOP) Grantees

The U.S. Department of Housing and Urban Development (HUD) issued $26.6 million in grants through the Self-Help Homeownership Opportunity Program (SHOP) to four organizations. The grants will allow for the creation of 1,477 homes for low-income homebuyers. The Self-Help Homeownership ... read more...

Temporary Housing Relief for Storm Victims in Pennsylvania

The Internal Revenue Service (IRS) suspended the income limitations, status of units, and non-transient requirements under Section 42 of the Internal Revenue Code for Low-Income Housing Tax Credit (LIHTC) projects in order to provide temporary housing to Pennsylvania individuals affected by ... read more...