HUD

HUD recently released its proposed fiscal year (FY) 2014 fair market rents (FMRs) for the Housing Choice Voucher (HCV) and Moderate Rehabilitation Single Room Occupancy programs.

House Finance Services Chairman Jeb Hensarling (R-TX) recently announced intentions to introduce the Protecting American Taxpayers and Homeowners (PATH ) Act, a measure which according to Hensarling, would create a more sustainable housing finance system.

On Tuesday, August 6, President Obama delivered a speech in Phoenix, Arizona detailing his plan for promoting a strong and stable housing market. The speech addressed several core principles but mainly focused on balancing housing policy to support both sustainable homeownership options and affordable rental opportunities.

HUD recently released a proposed rule to clarify and expand the Affirmatively Furthering Fair Housing (AFFH) obligations of HUD program participants in accordance with the Fair Housing Act. HUD is proposing this long overdue rule because the current practice of affirmatively furthering fair housing, which involves an analysis of impediments to fair housing choice and a certification that the grantee will affirmatively further fair housing, has not been as effective as envisioned.

HUD’s director of Multifamily Development, Theodore Toon, recently issued a memo to provide guidance on Federal Housing Administration (FHA) and MAP Guide policy regarding age restrictions in FHA-insured housing.

Federal Housing Administration (FHA) Commissioner Carole Galante recently announced leadership changes in the Office of Multifamily Housing including the resignation of Marie Head from the role of Multifamily Deputy Assistant Secretary and the promotion of Ben Metcalf to replace Ms. Head.

HUD recently published the final rule (24 CFR Part 92) amending the HOME Investment Partnerships (HOME) Program regulations. These amendments represent the most significant changes to the HOME Program in 17 years. The overall goal of these changes was to provide participating jurisdictions (PJs) and their partners with regulatory guidance to enhance the efficiency and effectiveness of the HOME Program in the context of a more complex housing and community development environment.

NH&RA was please to welcome over 100 participants at the 2013 Summer Institute. All conference materials, Power Point presentations, relevant articles, reports, memos, etc. are available for download.

Senators Tim Johnson (D-SD), Chairman of the Senate Banking Committee, and Mike Crapo (R-ID), the Committee’s Ranking Member, released a discussion draft of the Federal Housing Administration Solvency Act of 2013, which would implement several reforms designed to improve the Federal Housing Administration (FHA) and to ensure the solvency of the Mutual Mortgage Insurance Fund.

A recent letter from Shelley R. Poticha, Senior Advisor and Director of the Office of Sustainable Housing and Communities at the U.S. Department of Housing and Urban Development (HUD), indicated that her last day at HUD was July 12 and will soon begin work at the Natural Resources Defense Council on August 5.

HUD recently released Notice 2013-17 to update and consolidate previous guidance on the prepayment of Section 202 Direct Loan projects. The Notice touches on guidance for HUD approval and processing of the prepayment of old (1959-1974) and new (1974-1990) Section 202 projects and supersedes guidance from previous Notices 2002-16, 2004-21, 2010-14, 2012-08.

HUD recently published a proposed rule in the Federal Register which would amend current regulations covering the contract rights and obligations of mortgagees participating in Federal Housing Administration’s (FHA) multifamily mortgage insurance programs, to address reimbursement to FHA of excess claim proceeds.