HUD

On Tuesday the Senate voted 61-32 to confirm Brian Montgomery as HUD’s deputy secretary. In a hearing last week the Senate Banking, Housing and Urban Affairs Committee advanced the nomination of Dana Wade to be the Assistant Secretary for Housing and Federal Housing Commissioner at HUD.

NH&RA sent a letter to HUD calling for guidance to PHAs on the distribution distributing of relief funds to mixed-finance properties as well as traditional public housing properties.

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.

HUD announced the allocation of $380 million in supplemental administrative fee funding to all Public Housing Authorities (PHAs). HUD also allocated an additional $1 billion through its Community Development Block Grant.

Ginnie Mae issued a memo, which announces a new version of the existing Pass-Through Assistance Program (PTAP) for use by Multifamily Mortgage-backed Securities (MF MBS) Issuers facing a temporary liquidity shortfall directly attributable to COVID-19.

HUD published a final rule that allows public housing authorities (PHAs) and owners to conduct full income recertifications for families with 90 percent or more of their income from fixed-income every three years instead of annually. The final rule is effective as of June 8, 2020.

Kentucky Housing Corporation (KHC) amended the 2015-2019 Consolidated Plan and 2019 Annual Action Plan and is accepting comments through May 19. KHC recently received additional funding allocations through the CARES Act for CDBG, ESG and HOPWA, necessitating amendments to planning documents.

HUD’s Office of Multifamily Housing Programs updated its Multifamily Q&A Guidance for COVID-19 on May 1. The new questions address nutrition resources for residents, calculating tenant income from the CARES Act, forbearance, evictions for criminal activity, subsidy payments for deceased tenants due to COVID-19 and more. Search “5/1/20” to search for the new questions and […]

HUD reissued the Update on Budget Based Rent Adjustments (BBRA) for Properties Assisted under Project Rental Assistance Contracts (PRACs) memo with a correction to paragraph five. The original correspondence dated March 12, 2020, referenced monthly per-unit deposit levels rather than annual per-unit deposit levels, as was intended.

HUD created a resource for residents and families living in multifamily properties, which addresses steps residents can take in case of lost income during COVID-19, provides local contact information and explains the eviction moratorium in the CARES Act.

The National Housing Conference (NHC) will host a webinar with Federal Housing Administration (FHA) Commissioner Brian Montgomery on continued steps HUD and FHA are taking to assist borrowers, renters, lenders and property owners throughout the pandemic on May 1 from 1:00 – 2:00 pm ET.

HUD updated its FAQ document to include some clarifications about the treatment of households stimulus payments, as well as the temporary enhancement of unemployment insurance, when calculating household income and program eligibility.