ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.
The Federal Housing Finance Agency (FHFA) announced the authorization of more than $1 billion in affordable housing allocations to Fannie Mae and Freddie Mac, the largest disbursement in history. HUD’s National Housing Trust Fund (NHTF) will receive $711 million and the Department of the Treasury’s Capital Magnet Fund (CMF) will receive $383 million.
Enterprise Community Partners (Enterprise), HUD, Fannie Mae, and Bellwether Enterprise are holding a webinar from 1:30 – 3 p.m. ET on December 10 to discuss their new Ready to Respond: Business Continuity Toolkit. The toolkit equips multifamily affordable building owners & managers with a plan to address crisis as many housing communities confront risks associated with natural disasters and other risks that affect tenants and business resiliency, such as COVID-19.
The Federal Housing Finance Agency (FHFA) announced that the 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $70 billion for each Enterprise. NH&RA applauds the increased caps and looking forward to working with FHFA, Fannie Mae and Freddie Mac to ensure sufficient liquidity in the multifamily mortgage market during this economic downturn.
Don Layton authored a new paper with Harvard Joint Center for Housing Studies, What Should We Do with the GSEs? Common-Sense Reform Recommendations for the Biden Administration. Layton concludes that the new administration, if it is to successfully address the GSE question, must follow one of two possible paths in the next twelve to twenty-four months.
FHFA determined the Enterprises’ purchases of mortgages exceeded the benchmarks for all the 2019 housing goals. The report also concluded both Enterprises complied with their 2019 Duty-to-Serve requirements in all three underserved markets.
A new blog and paper by Don Layton with the Joint Center for Housing Studies of Harvard University explore whether the Federal Housing Finance Agency’s (FHFA) plans and actions are consistent with making the Fannie Mae and Freddie Mac (collectively, the Government Sponsored Enterprises or GSEs) attractive enough to equity investors, and – given the need to raise such unprecedentedly large amounts of equity – to do so globally and broadly.
The House Committee on Financial Services will hold a virtual roundtable at 3:00 pm ET on September 3 on Dismantling Barriers to Housing for America’s Seniors and People with Disabilities.
Jeff Hayward is leaving his post as head of Multifamily at Fannie Mae to assume a new enterprise-wide role as chief administrative officer, Michele Evans will take over as head of Multifamily.
Reps. Maxine Waters (D-CA), Wm. Lacy Clay (D-MO) and Denny Heck (D-WA), sent a letter to Dr. Mark Calabria, director of the Federal Housing Finance Agency (FHFA), urging the agency to prioritize economic recovery amid the COVID-19 pandemic crisis by pausing a rulemaking that would set new capital requirements for Fannie Mae and Freddie Mac (collectively “the Enterprises”) until after the pandemic.
To help renters in multifamily properties stay in their homes and to support multifamily property owners during the Coronavirus national emergency, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) are allowing servicers to extend forbearance agreements for multifamily property owners with existing forbearance agreements for up to three months.
The Senate Banking Committee held a hearing on June 9 entitled Oversight of Housing Regulators. The witnesses included HUD Secretary Benjamin Carson and Federal Housing Finance Agency Director Mark Calabria.
The Consumer Financial Protection Bureau (CFPB), Federal Housing Finance Agency (FHFA) and HUD launched an online resource on mortgage and housing assistance for renters and homeowners affected by COVID-19.