Federal / Agency News
North Dakota CDBG Pre-Application
The North Dakota Department of Commerce Division of Community Services (NDDCS) announced the opening of a pre-application period for the CDBG FY2023, which ends on July 27
HUD Creates Office of Manufactured Housing Programs within Office of Housing
HUD created a new Office of Manufactured Housing Programs as an independent office within the Federal Housing Administration.
HUD Releases Increasing the Supply of Affordable Housing Tool
HUD announced the Increasing the Supply of Affordable Housing page on the HUD Exchange.
Biden-Harris Administration Promotes Equitable Community Development
Last year, the Biden-Harris administration launched the Interagency Community Investment Committee (ICIC), a coalition of agencies with a focus on aligning federal investments to support economic growth in historically underserved communities and address economic disparities.
FHA Multifamily Mortgages up to $120 Million Now Eligible for Standard Underwriting
The Federal Housing Administration (FHA) published a Mortgagee Letter that increases the threshold at which a multifamily loan is considered a large loan from $75 to $120 million.
Ranking Member Waters Proposes Billions to Expand Low-Income Housing
Last week, Representative Maxine Waters (D-CA) introduced a package of three bills aimed at tackling the affordable housing crisis, ending homelessness and eliminating the racial wealth and homeownership gaps.
Comments on HUD’s Proposed FMR Calculation Methodology Due July 24
HUD issued a notice with proposed changes to calculate fair market rents (FMRs), including a change in the definition of “recent mover” to include residents who have lived in their current household for 11 months or less and to retain and to expand the use of rent inflation factors calculated by private-sector sources.
CDFI Certification Advisory Board Meeting – July 7
The Community Development Financial Institution (CDFI) fund continues efforts to revise the CDFI Certification application through the chair of the community development advisory board.
HUD Publishes Final NSPIRE Inspection Standards & GRRP FAQs
HUD published the Final Inspection Standards Notice for the National Standards for the Physical Inspection of Real Estate (NSPIRE). HUD also announced that they have posted answers to new Frequently Asked Questions for the Green and Resilient Retrofit Program (GRRP) based on the May 23 webinar.
FHFA Submits Annual Report to Congress
The Federal Housing Finance Agency (FHFA) released its 2022 Report to Congress.
CDFI Annual Compliance, Certification and Reporting Obligations
The Community Development Financial Institutions (CDFI) Fund announced that authorized representatives of either a CDFI or an organization that received an award must submit the Annual Certification and Data Collection Report (ACR) to maintain CDFI Certification status.
HUD Removes $25 Million Loan Cap for Projects in LIHTC Pilot Program
HUD’s Office of Multifamily Housing Programs issued a memo, which removes the $25 million loan cap for the LIHTC Pilot Program.