Treasury to Name Housing Finance Adviser
According to a senior Treasury official, Michael Stegman, a housing and domestic policy director at the John D. and Catherine T. MacArthur Foundation, will join the Treasury Department in January 2012 as a counselor to Secretary Timothy Geithner. Since 2005, Stegman has served as director of policy and housing for U.S. programs at the MacArthur Foundation and during the Clinton administration served as an assistant secretary for policy research at HUD. Prior to both those positions, he taught housing policy and community development finance at the University of North Carolina at Chapel Hill for 40 years. At Treasury, Mr. Stegman will coordinate the department’s housing policies including revamping the GSEs Fannie and Freddie, something the Obama administration has indicated as a major priority.
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HUD Revises Certain Guidance for Section 202 and 811 Programs
HUD recently released Housing Notice 2014-10 to make updates to certain procedures published in Notice 2011-18 “Processing Guidance for the Section 202 Supportive Housing for the Elderly and Section 811 Supportive Housing for Persons with Disabilities Programs.” These updates are related to underwriting and construction administration guidance.