Yesterday, the Trump administration released its proposed budget for the 2019 fiscal year. Overall, the budget proposes an $8.8 billion (18.3%) reduction in the HUD budget from the 2017 enacted level, a more drastic cut than the $6 billon HUD budget reduction the Administration proposed for fiscal year 2018. Significant proposals in the budget include:… Continue Reading
The Federal Housing Finance Agency (“FHFA”) has proposed new single-family and multifamily housing goals for Fannie Mae and Freddie Mac (collectively, the “GSEs”) for 2018-2020. For single-family housing, the proposed goals would require that the percentage of overall qualified single-family mortgage purchases for the GSEs be as follows: the Low-Income Home Purchase Goal would be… Continue Reading
Last week, Ballard Spahr in conjunction with CSG Advisors hosted its 7th Annual Western Housing Conference in Phoenix, Arizona. The Conference brought together a wide range of public and private housing professionals facilitating a dynamic conversation on current developments in government-assisted housing. The Conference opened with a “Washington Update” – a discussion on housing policy… Continue Reading
Ballard Spahr is committed to facilitating and leading the conversation within the affordable housing community, which makes us thrilled to announce our Eleventh Annual National Housing Conference in Washington, D.C., from November 3 to 4. This two-day, complimentary event features engaging discussions, panel presentations, special insights, and networking opportunities with the key influences and power… Continue Reading
On May 17, 2016, HUD published a notice in the Federal Register to announce the issuance of the “Processing Guide for Previous Participation Reviews of Prospective Multifamily Housing and Healthcare Programs’ Participants” (the “Processing Guide”). A copy of the Processing Guide can be accessed here. HUD proposes that the Processing Guide be used to supplement the proposed rule published in August that announced… Continue Reading
We at Housing Plus are thrilled to announce that Christopher D. Bell has joined the firm’s Real Estate Department and the Housing Group. His housing finance practice, experience with GSEs, and overall industry leadership strengthens a thriving group of attorneys who represent many of the country’s leading housing lenders, borrowers, and investors nationwide. Before joining… Continue Reading
For efficient closing of RAD transactions by December 31, 2015, public housing authorities and developers should remain mindful of the Office of Recapitalization’s recently released processing deadlines. Planning ahead and incorporating the following issuance dates into operating schedules will help ensure your projects advance in a timely manner: Upload all required Financing Plan documents no… Continue Reading
From May 20-22, a handful of our bloggers will speak at the ABA Forum on Affordable Housing and Community Development Law in Washington, D.C. – an annual meeting that brings together pertinent developments, resources, strategies, and insights within the affordable housing and community development law community. Molly R. Bryson, one of the Conference Planning Chairs, will… Continue Reading
Would private developers build affordable housing if there were no government subsidies? Rep. Mike Capuano (D-MA) and his colleagues explored that question and other topics during a House Financial Service Subcommittee hearing held last Thursday on private sector participation in affordable housing programs. The hearing covered a wide range of housing programs that help leverage… Continue Reading
The government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, have announced that they are quickly approaching their 2015 volume caps. In January of this year, the Federal Housing Finance Agency (FHFA), who regulates these agencies, released its 2015 scorecard which detailed 2014 activities and outlined 2015 priorities for the agencies. The scorecard retained the volume… Continue Reading
Last week, HUD has announced a proposed rule to implement protections arising under the Violence Against Women Reauthorization Act of 2103 (VAWA). The reauthorization added a number of programs covered by VAWA, including: HOME Investment Partnerships program for rental housing; Section 202 supportive housing for the elderly; Section 236 Rental Program; Section 811 supportive housing for people… Continue Reading
Yesterday, the Federal Housing Finance Agency (FHFA), the regulator for Fannie Mae and Freddie Mac (the GSEs), issued a final rule on the allocation of resources to the National Housing Production Trust Fund and the Capital Magnet Fund (the Funds). The rule, which was published as an interim rule in December, focused on the statutory… Continue Reading
Before a robust crowd at the recent Best of the West in Affordable Housing Development and Finance conference sponsored by Ballard Spahr and CSG Advisors in San Francisco, the value and evolution of the U.S. Department of Housing and Urban Development (HUD) Rental Assistance Demonstration (RAD) program was a common point of discussion among panelists.… Continue Reading
Several exciting developments have recently brought changes to the affordable housing industry and we are inviting you to explore them with us at our fifth annual Western Housing Conference. Ballard Spahr and CSG Advisors are pleased to announce this year’s Best of the West in Affordable Housing Development and Financing conference on March 13, in… Continue Reading
Today, HUD hosted a focus group of nearly a dozen key stakeholders to gain insights about the RAD process. I had the opportunity to participate in the sessions along with housing authority representatives, lenders, investors, private developers, financial advisors and other consultants. Discussion questions explored issues extending from the RAD application process through to post-closing… Continue Reading
In what may be one of the longest tests of perseverance and intestinal fortitude in the history of legislative advocacy for affordable housing, supporters of the National Housing Trust Fund (NHTF) finally saw their proposal come to fruition late last week. On December 11, the Federal Housing Finance Agency (FHFA) formally directed Fannie Mae and… Continue Reading
Housing Plus is thrilled to announce that our very own Amy M. McClain has authored The Beginner’s Guide to Public Housing Conversion under RAD, published by the American Bar Association. The book focuses on the Rental Assistance Demonstration program’s utility as a financing tool for stimulating revitalizations to public housing properties. As an informative guide,… Continue Reading
We are dedicated to creating dialogue among the various voices of the affordable housing community, which makes us excited to announce our Ninth Annual National Housing Conference in Washington, D.C., from November 12 to 13. The two-day, complimentary event features lively discussions, panels, insights, and networking opportunities with the movers and shakers of the affordable… Continue Reading
Issued earlier this month, a proposed rule from the Federal Housing Finance Agency considers updates to the Agency’s Enterprise housing goals. The rule applies to mortgages purchased by Fannie Mae and Freddie Mac for housing affordable to low-income and very low-income families. The Enterprises’ current goals were established in November 2012. The proposed rule outlines the following… Continue Reading
Freddie Mac recently closed its first direct purchase of a tax-exempt loan. The loan financed the acquisition and rehabilitation of a 417-unit senior housing community in Dayton, Ohio known as The Lakewoods. The deal represents a notable milestone for the GSE, and a new, more cost-effective financing solution for participants in the affordable housing sector.… Continue Reading
On August 6,2014, Fannie Mae held its first Legal Issues Forum Update via conference call where a few of the topics discussed at the Spring Legal Issues Forum were revisited. The conference call was hosted by John Tolbert, Associate General Counsel at Fannie Mae and moderated by Fannie Mae alum Marsha Baumgarner, Senior Vice President… Continue Reading
As part of its efforts towards continued reorganization, the U.S. Department of Housing and Urban Development (HUD) has recently announced changes to the Office of Multifamily Housing leadership staff. Mark Van Kirk, the Director of Asset Management, and Margaret Salazar, Director of the Office of Affordable Housing Preservation (OAHP) will each be stepping down from… Continue Reading
Each year, the ABA Journal conducts an open survey for its Blawg 100, an annual listing of the 100 best legal blogs. Housing Plus would be honored to rank in this list of top blogs. Since its launch, Housing Plus has been grateful for the strong levels of participation and interest maintained by its readers. Community engagement… Continue Reading
HUD hosted the RAD Network Training on June 4th and 5th with a crowd in attendance that exceeded HUD’s expectations. The two day series of panel presentations spanned a range of topics with insights shared by HUD staff and housing authority representatives. It was evident that HUD is focused on making RAD work more efficiently… Continue Reading
