Tag: HUD
Executive Order on Reducing Poverty Could Impact Housing Programs
On April 10, President Trump released an executive order, “Reducing Poverty in America by Promoting Opportunity and Economic Mobility,” that is designed to guide agencies that administer public assistance programs to effectively reform the welfare system.
HUD Allots $28 Billion for Disaster Recovery in U.S. and Puerto Rico
HUD announced that nearly $28 billion will go to support long-term disaster recovery efforts in nine U.S. states, Puerto Rico and the U.S. Virgin Islands. The funds represent the largest single amount of disaster recovery assistance in HUD’s history.
Congress Approves $1.3 Trillion Spending Package
Congress has approved a $1.3 trillion spending bill that will fund the federal government through the end of the current fiscal year, which expires Sept. 30. The sweeping appropriations legislation includes several areas of interest to the housing community.
HUD Allocates Disaster Recovery Funds
The Department of Housing and Urban Development has released its policies regarding how it will allocate $7.39 billion in Community Development Block Grant disaster recovery funds provided by the 2017 Supplemental Appropriations for Disaster Relief.
Trump’s Fiscal 2019 Budget Seeks 14% Cut to HUD
President Trump’s proposed fiscal 2019 budget, which runs from Oct. 1, 2018 through Sept. 30 2019, would cut the HUD budget 18.3%, or $8.8 billion, to $39.2 billion.
HUD Delays Enforcement of Assessment of Fair Housing Plans Until 2020
HUD published a notice in the Federal Register today extending the deadline for local governments to submit an Assessment of Fair Housing until Oct. 31, 2020. Under HUD’s Affirmatively Furthering Fair Housing rule, local governments must submit these plans to proactively identify barriers to fair housing choice and to ensure that their practices and policies do not promote racial segregation.
FHA Capital Reserves Above Statutory Minimum for Third Straight Year
The Federal Housing Administration (FHA) today released its annual report to Congress that shows the agency’s capital reserve ratio fell by $1.9 billion to a total economic net worth of $25.6 billion.
However, for the third straight year FHA’s reserve ratio has exceeded the congressionally mandated 2% threshold. FHA’s Mutual Mortgage insurance Fund now stands at 2.09% of the loans back stopped by the agency, vs. the 2.35% level from a year ago.
HUD Issues Timeline for FHA Multifamily Applications in Harvey-Impacted Areas
HUD will begin accepting new multifamily mortgage insurance applications in Harvey-impacted areas in October.
NAHB Commends Pamela Patenaude’s Confirmation as HUD Deputy Secretary
NAHB commends the Senate confirmation of Pamela Patenaude as the new HUD deputy secretary. This is an especially important time to have the HUD leadership at full strength as the government and private sector work together to meet the critical housing needs of the millions of households impacted by Hurricanes Harvey and Irma.
HUD Proposes 2018 Difficult Development Areas, Qualified Census Tracts
HUD published a Federal Register notice Monday that designates Difficult Development Areas (DDA) and Qualified Census Tracts (QCT) for 2018.