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Annual Assessment Shows Three Percent Increase in Homelessness Nationwide

January 17, 2020 | Federal / Agency News

HUD released its 2019 Annual Homeless Assessment Report to Congress, which found that 567,715 persons experienced homelessness on a single night in 2019, a three percent increase over 2018. Homelessness among veterans and families with children continued to fall, declining 2.1 percent and 4.8 percent, respectively, in 2019.

Treasury OIG Launches Opportunity Zone Investigation

January 17, 2020 | Federal / Agency News

The Inspector General of the U.S. Department of the Treasury launched an internal investigation on abuse in the Opportunity Zone program. Rich Delmar, the department’s acting inspector general, said in a statement he expects “to complete our work and respond to the congressional requesters in early spring.”

FHA Reiterates Green Building Standards Program

January 17, 2020 | Federal / Agency News

In 2016, the Federal Housing Administration’s (FHA) Office of Multifamily Housing Programs introduced a voluntary green building standards program that allowed for a reduced annual mortgage insurance premium (MIP) at the rate of 0.25 percent for properties that are committed to green building practices. The reduced MIP for industry-recognized green housing encouraged owners to adopt higher standards for construction, rehabilitation, repairs, maintenance and property operations.

Senators Introduce Bill to Focus NMTC Allocation on Indian, Native Lands

January 17, 2020 | Federal / Agency News

A bipartisan group of four Senators recently introduced a bill that would require that ten percent of the annual New Markets Tax Credit (NMTC) allocation be made to community development entities (CDEs) for investment in developments in Indian and Native lands

House Financial Services Committee Announces January Hearing Schedule

January 17, 2020 | Federal / Agency News

Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, announced several updates to the Committee schedule:

January 29 at 10:00 am ET – The full Committee will convene for a hearing entitled, “The Community Reinvestment Act: Is the OCC Undermining the Law’s Purpose and Intent?”

January 29 at 2:00 pm ET – The Subcommittee on Housing, Community Development and Insurance will convene for a hearing entitled, “Examining the Availability of Insurance for Nonprofits.

House Passes Seven Financial Services Bills

January 17, 2020 | Federal / Agency News

The U.S. House of Representatives passed the following financial services bills to support veterans, benefit investors, provide housing opportunities, hold regulators accountable, promote Minority Depository Institutions (MDIs) and improve cybersecurity:

California Governor Signs Homelessness-Related Executive Order

January 17, 2020 | Affordable Housing, General News

Governor Gavin Newsom (D) issued an executive order on January 8 to expedite the state’s response to the homelessness crisis in advance of 2020-21 budget negotiations.

Boston Mayor Announces $500 Million for Affordable Housing

January 17, 2020 | General News

On January 7, in his State of the City address, Mayor Martin Walsh (D) pledged to dedicate $500 million over the next five years for affordable housing. These new investments will create rental and homeownership opportunities, preserve public housing, and establish a city-funded rental voucher program.

Massachusetts Governor Signs FY2019 Supplemental Budget

January 17, 2020 | General News

On December 17, Governor Charlie Baker (R) signed the supplemental budget to close out the $1 billion surplus from Fiscal Year (FY) 2019. The budget includes $2.5 million for a down payment assistance program for first-time homebuyers with low and moderate incomes as well as $2 million for a rental and mortgage arrearage assistance pilot program established under Residential Assistance for Families in Transition.

FHLBank Boston Hosts Affordable Housing Program Sessions

January 17, 2020 | General News

The Federal Home Loan Bank of Boston (FHLBank Boston) is hosting three sessions to assess its Affordable Housing Program (AHP) priorities and competitive scoring framework to ensure that the program remains a vital, flexible capital source to support a wide range of affordable housing initiatives across New England and the communities its members serve.