HAC News

HAC News: August 14, 2013

HAC News Formats. pdf

August 14, 2013
Vol. 42, No. 16

• President announces housing policy • Treviño departs RHS for HUD • USDA offers Section 514/516 Farm Labor Housing funds • Rural Community Development Initiative funds available • Some details available on relief for owners with Sec. 521 Rental Assistance shortfall • Regulations proposed for Section 542 vouchers • Section 533 HPG NOFA corrected • VAWA Reauthorization Act covers some USDA and HUD programs and LIHTC • RD addresses legal residence status of applicants for Section 502 guarantees • FY14 Fair Market Rents proposed • Appraisal exceptions proposed for high-risk mortgages • LIHTC has important impact in rural communities, study says • Manufactured housing in metro areas studied • Hunger and housing examined in Rural Voices

August 14, 2013
Vol. 42, No. 16

PRESIDENT ANNOUNCES HOUSING POLICY. The Administration’s approach focuses on private sector financing, winding down Fannie Mae and Freddie Mac, and homeownership, while acknowledging the need for affordable rental housing. It mentions direct government loans for homeownership and rental housing: “The government should continue to provide direct loan or loan guarantee/insurance for certain underserved borrowers and communities through the FHA, VA, and USDA.” It also recognizes the need for credit in underserved communities.

TREVIÑO DEPARTS RHS FOR HUD. Tammye Treviño has left her position as Administrator of the Rural Housing Service to become Regional Director of HUD’s Region VI, based in Texas. Richard Davis, who has worked in RHS’s national office for a number of years, will serve as Acting Administrator.

USDA OFFERS SECTION 514/516 FARM LABOR HOUSING FUNDS. Preapplications for off-farm projects are due September 13. New Rental Assistance and operating assistance are available. Contact a USDA RD state office.

RURAL COMMUNITY DEVELOPMENT INITIATIVE FUNDS AVAILABLE. Intermediaries can apply by November 12 for grants to provide capacity building assistance related to housing, community facilities, or community and economic development. Contact a USDA RD state office.

SOME DETAILS AVAILABLE ON RELIEF FOR OWNERS WITH SEC. 521 RENTAL ASSISTANCE SHORTFALL. A letter to owners of 900 Section 515 and 514/516 properties that may not have RA contracts renewed in September (see HAC News, 8/1/13), a list of the properties, and a slide presentation used in training USDA staff to develop “RA Relief Plans” with owners are posted on HAC’s website.

REGULATIONS PROPOSED FOR SECTION 542 VOUCHERS. In many respects the proposed rule would continue operating the program, which assists tenants of Section 515 properties that have been prepaid or foreclosed, in the same way as the NOFAs that have governed it since 2006. It would make some changes as well. Comments are due October 15. HAC will post its comments online before that date. Contact Leslie Strauss, HAC, 202-842-8600.

SECTION 533 HPG NOFA CORRECTED. A notice makes minor corrections to the NOFA (see HAC News, 6/21/13), although the deadline was August 2. Contact Bonnie Edwards-Jackson, USDA, 202-690-0759.

VAWA REAUTHORIZATION ACT COVERS SOME USDA AND HUD PROGRAMS AND LIHTC. HUD requests comments by October 7 as it develops changes in regulations to apply the Violence Against Women Reauthorization Act of 2013 to HOME, Sections 202 and 811, homeless programs, and others now covered by changes enacted in March 2013. Contact HUD program staff for more information. The notice does not include the Low Income Housing Tax Credit and USDA Sections 515, 514/516, 533, and 538, all also now covered by VAWA’s tenant protections.

RD ADDRESSES LEGAL RESIDENCE STATUS OF APPLICANTS FOR SECTION 502 GUARANTEES. Administrative Notice 4723 describes the RD staff process to verify homebuyers’ status. Contact Joaquin Tremols, RD, 202-720-1452.

FY14 FAIR MARKET RENTS PROPOSED. Comments are due September 4 on HUD’s FMRs for the year starting October 1, 2013. Contact HUD USER, 800-245-2691.

APPRAISAL EXCEPTIONS PROPOSED FOR HIGH-RISK MORTGAGES. The Federal Reserve Board, Consumer Financial Protection Bureau, and other regulatory agencies request comments by September 9 on proposed exemptions from regulations that require appraisals for “higher-risk mortgages.” Transactions secured by manufactured homes (not land) would be exempt, as would streamlined refinancings and transactions of $25,000 or less. Contact Lorna Neill or Mandie Aubrey, Federal Reserve, 202-452-3667.

LIHTC HAS IMPORTANT IMPACT IN RURAL COMMUNITIES, STUDY SAYS. The Low Income Housing Tax Credit: Overcoming Barriers to Affordable Housing in Rural America, published by Rapoza Associates, reports that the credit has helped preserve and develop over 270,000 rental units in 7,600 rural properties. Nonprofits have produced 19% of rural tax credit units over the program’s history, and 23% from 2006 to 2010. The report recommends that Congress retain the credit as it undertakes comprehensive tax reform.

MANUFACTURED HOUSING IN METRO AREAS STUDIED. Manufactured Housing as a Metropolitan Housing Solution, a new report from CFED’s I’M HOME initiative, summarizes data on manufactured homes and their residents in 10 metro areas, including the Lower Rio Grande Valley where many colonias are located. Data snapshots provide details for each metro area, including maps showing manufactured home locations by census tract.

HUNGER AND HOUSING EXAMINED IN RURAL VOICES. Stories in the summer issue of HAC’s quarterly magazine describe initiatives in a number of rural places. A map shows food insecurity by county. One print subscription per organization is free from Dan Stern, HAC, 202-842-8600.