Industry News

Supreme Court Issues Major Decision Impacting Affordable Housing

On June 25 the United States Supreme Court issued its decision in TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS ET AL. v. INCLUSIVE COMMUNITIES PROJECT, INC., ET AL. (“TDHCA v. Inclusive Communities”), upholding the use of the “disparate impact” analysis in the Fair Housing Act.  The decision upholds an important and longstanding principle of the […]

Senate THUD Bill Slashes Already Historically-Low Funding for HOME Program

The Senate Appropriations Subcommittee on Transportation, Housing and Urban Development approved Tuesday a FY-2016 THUD funding bill that slashes funds for the HOME program, which often provides vital funding for housing credit developments.

HUD Standardizes Utility Allowance Calculation Methodology for Multifamily Properties

HUD published a notice outlining a new sampling methodology to calculate utility allowances for several multifamily affordable housing programs. The notice standardizes the methodology used to calculate utility allowances across many HUD housing programs and bases the calculations on actual consumption.

Member News

Homes for America, Telesis Honored at DC Area Affordable Housing Meeting

Homes for America was recognized as Nonprofit Developer of the Year and Telesis’ development, Bass Circle Apartments, was awarded Best Large Affordable Housing Project by the Housing Association of Non-Profit Developers.

Freddie Mac Helps Purchase $215 Million Loan for Affordable Housing Community in Boston

Freddie Mac financed a $215 million loan for Harbor Point on the Bay, a large 1,284-unit mixed-income community that includes both affordable and market-rate housing on more than 43 acres in Boston. KeyBank Real Estate Capital arranged the senior debt financing for the borrower, Corcoran, Mullins, Jennison Inc. (CMJ), which is committed to providing quality affordable housing.

Freddie Mac Prices Largest Single Loan Multifamily K-Deal Backed by Park La Brea Apartments

Freddie Mac recently priced an $812 million offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. The K Certificates (K-PLB Certificates) are backed by Los Angeles’ historic Park La Brea, the largest apartment community on the West Coast, and are expected to settle on or about June 26, 2015.

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