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NALHFA Honors Ernestine Garey with Lifetime Achievement Award

Posted By Administration, Thursday, May 4, 2017
[Washington DC - 5/4/2017] It is not often that NALHFA gets the chance to recognize one of its own for their contributions to the association. For just the third time in its history NALHFA honored Ernestine Garey with its Lifetime Achievement Award on Thursday, April 27 at its annual conference held in San Francisco.  The award is given in recognition of those individuals who have gone above and beyond the call of service to the local housing finance industry and who have devoted significant time, energy and effort toward creating and achieving the strategic initiatives of NALHFA, and who are distinguished in their selflessness and vision for both NALHFA and the industry as a whole. Read full story.

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NALHFA Announces Leadership Team for 2017-2018

Posted By Administration, Wednesday, May 3, 2017

[San Francisco - 4/27/2018] - The National Association of Local Housing Finance Agencies (NALHFA) is pleased to announce that its 2017-2018 leadership team was installed today at the associations' Annual Conference in San Francisco, CA. At the annual business meeting and luncheon, the NALHFA membership reelected Ron Williams, Executive Director for the Southeast Texas Housing Finance Corporation as the association's 2017-2018 President. Read full story.

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4-24-17 Housing Update

Posted By Administration, Monday, April 24, 2017

Legislative & Policy Update (Read Full Update)

Congress Works This Week to Stop Government Shutdown

After a two-week recess, Congress returns to Washington this week and will have until Friday night to pass spending legislation to keep the government running. At the end of last year, Congress passed a continuing resolution to keep the government funded until April 28 th. Now Congress must come up with a bipartisan solution to keep the government from shutting down before midnight on Friday.

The biggest hurdle to getting spending legislation passed is a demand from the Trump Administration to include funding for a U.S.-Mexico border wall in the bill. The Office of Management and Budget Director, Mick Mulvaney said to the Associated Press in an interview,

“We know there are a lot of people on the Hill, especially in the Democratic Party, who don’t like the wall, but they lost the election. And the president should, I think, at least have the opportunity to fund one of his highest priorities in the first funding bill under his administration.”

It will be difficult to gain the Democrat’s support with a border wall demand as they are opposed to this spending if it means other domestic programs losing funding. There has also been no real incentive offered for the Democrats with the demand. Finding compromise will be necessary, however, in both the House and the Senate. The Republicans only have a 52-seat majority in the Senate and will need eight Democrats to join them in order to meet the 60 vote requirement to pass the legislation. In the House, some Democrat votes are needed as there are several conservative Republican members who will oppose any legislation that includes a spending increase.


The Mortgage Bankers Association Releases White Paper on GSE Reform

Last week the Mortgage Bankers Association (MBA) released a white paper entitled, GSE Reform: Creating a Sustainable, More Vibrant, Secondary Mortgage MarketThis paper is a follow up to MBA’s GSE Reform: Principles and Guardrails, released in January. The paper includes solutions to reforming and revitalizing the secondary mortgage market and what transition steps are needed to accomplish this reform.

Below is summary released by MBA of their approach to GSE Reform:

  • Inject much higher levels of risk bearing private capital into the mortgage system, while dramatically reducing the system's reliance on government support.
  • Enhance the stability of the mortgage system with multiple Guarantors that will operate as privately owned utilities.
  • Protect taxpayers and consumers with a clear set of market conduct rules, prudential requirements, and a new federally backed Mortgage Insurance Fund (standing behind the mortgage backed securities, not the Guarantors themselves) financed with appropriately priced insurance premiums.
  • Ensure that mortgage lenders of all sizes and business models have equal access to the secondary market.
  • Improve service and performance in the secondary market with multiple Guarantors competing on operations and systems development, customer service, product parameters and innovation, and pricing and execution.
  • Minimize disruption during the transition to the new system by preserving what works in the current system and utilizing the existing regulatory framework where appropriate.
  • Meet the needs of the full continuum of households, from families requiring the most directly subsidized, affordable rental homes to those served by the completely private jumbo single family lending market.

To read the full paper, visit MBA’s website here.


HUD Updates

Understanding Recent IDIS Changes Based on the HOME Commitment Interim Rule

The United States Department of Housing and Urban Development (HUD) is holding a two-part webinar on April 26 th and 27 th to explain the recent changes to the Integrated Disbursement and Information System (IDIS) that implements the HOME Investment Partnerships (HOME) interim final rule. The rule went into effect January 3, 2017 and requires Participating Jurisdictions’ compliance with the statutory 24-month commitment requirement to be on a grant-specific basis for FY 2015 and later HOME allocations.

Participants will learn how commitments are calculated under the interim final rule; how to properly track and report local receipt funds; how to track progress towards the 36-month deadline for project-specific commitments by state and subrecipients; and how to use several new HOME reports in IDIS to manage the HOME program. To learn more about this two-part webinar series or to register, click hereTOP


Register for the Multifamily Utility Benchmarking Webinar Series

HUD will be holding part three of the six-part webinar series on multifamily utility benchmarking, Collecting the Data for Utility Benchmarking of Multifamily Properties, on April 27, 2017. This webinar will guide participants through HUD’s new multifamily utility benchmarking guidance including the new HUD multifamily utility benchmarking website and toolkit. This webinar series will help attendees become familiar with the specific guidance and tools HUD has developed to help streamline the benchmarking of energy and water performance at multifamily properties. Attendees are encouraged to attend all six sessions and recordings will be made available for those who are not able to attend the live recording. Click here for more information or to register for this webinar series. TOP


HUD Publishes Instructions for Urban County Qualifications for Participation

HUD has published notice CPD 17-03; Instructions for Urban County Qualifications for Participation in the CDBG Program for FYs 2018-2020. This notice provides guidance for counties that wish to qualify or to requalify for entitlement status as urban counties, as well as for existing urban counties that wish to include previously nonparticipating communities. HUD Field Offices and urban counties are expected to obey the deadlines provided in this notice. To read the full notice, click here.


News & Notes

  • The Consumer Financial Protection Bureau (CFPB) is suing Ocwen Financial asserting borrowers lost money, and in some cases, their homes because of the company’s years of “widespread errors, shortcuts, and runarounds.” Read more.
  • Proposals from the Trump Administration have caught the attention of the municipal market world. President Trump’s request for $1 trillion in infrastructure spending threatens to swell the country’s municipal bond supply while the looming possibility of a corporate tax rate drop could reduce the demand from banks and insurers for muni bonds. Read more.
  • The CFPB will focus more on fair lending in mortgages in 2017. After looking back at its fair lending priorities for 2016, mortgages are on the top of its list as one of the three areas the agency would like to increase its focus on this year. Read more.
  • The National Fair Housing Alliance released a report last week that revealed the impacts segregation has had on fair housing, and current policies that continue to perpetuate segregation. The 108-page report is entitled “The Case for Fair Housing.” Click here for the full report.
  • How much do public home building organization CEOs make? In 2016, twenty of the chief executives from United States-based organizations earned a collective compensation of just under $140 million. For a full list of what each chief executive earned in 2016, click here. TOP

NALHFA Celebrates National Community Development Week

NALHFA celebrated National Community Development Week last week by showcasing some outstanding NALHFA member projects. Success stories are a great way to get the attention of elected officials and they highlight the important role housing and community development programs play in our communities.

Last Friday NALHFA took these and other success stories to the hill and held meetings with staffers in the House of Representatives. The NALHFA government relations team visits with Congressional staff weekly, but National Community Development week is a great way connect with more offices and let them know how community and housing development programs are impacting their districts.

NALHFA is your voice on regulatory and legislative issues in Washington. We will continue to advocate on Capitol Hill and within the Administration to preserve federal funding for programs like HOME and CDBG that support local government-led affordable housing and community development initiatives.

Thank you to all who participated in CD week! The work doesn’t stop here, though. It’s important to keep the momentum going and continue to build relationships with your elected officials and your community throughout the year. If you have any questions or need assistance, please contact NALHFA Policy Director, Heather Voorman at hvoorman@nalhfa.org or at 202-367-2405.

 

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Redevelopment Excellence Category: National Community Development Week NALHFA Member Spotlight

Posted By Administration, Monday, April 24, 2017

 

National Community Development Week NALHFA Member Spotlight 
National Community Development Week continues with another NALHFA member spotlight. Below are projects submitted for the Redevelopment Excellence category of the NALHFA Awards program. Read full article

Be sure to follow NALHFA on FacebookTwitter, and LinkedIn to see what we're up to for the rest of Community Development Week!

 

Martha's Vineyard Place Apartments: Dallas Housing Finance Corporation 

Hunter's Point South A & B: New York Housing Development Corporation

San Francisco RAD Portfolio Conversion: SF Mayor's Office of Housing & Community Development 

Piccadilly Square Redevelopment: Washington County Community Development Agency

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Multifamily Excellence Category: NALHFA Celebrates National Community Development Week

Posted By Administration, Wednesday, April 19, 2017
National Community Development Week NALHFA Member Spotlight 
 National Community Development Week continues with another NALHFA member spotlight. Below are projects submitted for the Multifamily Excellence category of the NALHFA Awards program. 

Be sure to follow NALHFA on FacebookTwitter, and LinkedIn to see what we're up to for the rest of Community Development Week!

Multifamily Excellence Category. Read more.

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Commuinity Development Week Spotlight: Dave Wright Apartments & Landings at Marine Creek

Posted By Administration, Tuesday, April 18, 2017

National Community Development Week NALHFA Member Spotlight 
 As NALHFA continues to celebrate Community Development Week, we will be featuring this year's submissions for the NALHFA Awards program. For over 20 years, NALHFA has been recognizing the outstanding efforts of its member agencies and non-profit organizations through our Awards program. Held in conjunction with the NALHFA Annual Educational Conference, these awards draw submissions from across the United States and in all categories of affordable housing development-single family, multifamily redevelopment, mixed-use, senior housing, and many others. The NALHFA awards committee judges submissions and final decisions will be announced at the 2017 Annual Conference

HOME Excellence Category: Dave Wright Apartments, Allegheny County Residential Finance Authority 

HOME Excellence Category: Landings at Marine Creek, Fort Worth Housing Finance Corporation, Read more.

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NALHFA Celebrates Community Development Week: Green Homes North Project

Posted By Administration, Monday, April 17, 2017
This week (April 17-22) communities across the nation will celebrate National Community Development Week. This annual event is designed to celebrate the accomplishments of community, economic, and housing development programs across the country.

Throughout Community Development week, held during the spring Congressional recess, hundreds of communities will hold numerous events and meet with Members of Congress in their home districts to build support for the programs that make their community development projects possible. To recognize the achievements of our members and these programs, NALHFA will also be participating in Community Development week by sharing content, featuring member projects, and meeting with Hill staffers to advocate for these important programs. Read more.

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NALHFA Members Take Action: Meet with Your Lawmakers Now Over the Spring Break

Posted By Administration, Thursday, April 13, 2017

Congress is currently taking its traditional break from April 10th until April 24th. Take action over the two-week congressional spring break by meeting with your Members of Congress in the communities they represent.

Now is a great time to contact your local House and Senate offices and invite them to tour your housing projects. NALHFA is happy to help in providing you with the tools you need to engage your elected officials during the extended break.

When you do make your appointments make sure to let us know, and after the meeting please send your pictures to hvoorman@nalhfa.org.

We encourage NALHFA members to focus their outreach on the following areas: Read more.

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Trump's Budget Asks for $6 billion in HUD Cuts

Posted By Heather Voorman, Friday, March 17, 2017

[Washington, DC- 3/17/17] The Office of Management and Budget's "blueprint" for 2018 came out this week showing more than $6 billion in cuts to HUD's funding. These funding levels closely match the preliminary numbers leaked to the Washington Post last week.

 

The budget blueprint calls for the elimination of the Community Development Block Grant (CDBG) program, stating that the program is "not well-targeted to the poorest populations and has not demonstrated results." Additionally, the blueprint calls for the elimination of the HOME Investment Partnerships (HOME) program, the Choice Neighborhoods program, and the Self-help Homeownership Opportunity Program. Read More. 

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HUD Budget Faces Proposed Cuts

Posted By Heather Voorman, Friday, March 10, 2017
[Washington, DC- 3/10/17] Preliminary budget documents from the Trump administration reveal a proposal of more than $6 billion in cuts for the Department of Housing and Urban Development. The proposed cuts include big hits for public housing authorities, where operational funds would be reduced by $600 million, or 13 percent and the public housing capital fund would see cuts of an additional $1.3 billion, or about 32 percent.
 
The proposals also include eliminating Community Development Block Grant and HOME Investment Partnerships funds entirely. Direct rental assistance payments, housing for the elderly, housing for people with disabilities, and money for Native American housing would be cut by $521 million collectively. These cuts, if enacted, would increase the number of families that struggle to find affordable housing and would halt efforts by HUD to combat poverty and urban decline. Read More.

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