The Housing Assistance Council (HAC) presents this month’s report on Fiscal Year (FY) 2015 USDA Rural Housing program obligations.

As of the end of June, USDA obligated 104,729 loans, loan guarantees, and grants totaling about $13.9 billion. This is $184 million more but 487 fewer (in number) obligations than the same time last year. Nearly 96 percent of the total loan and grant dollars obligated represent Section 502 Guaranteed loans.

USDA also obligated 224,684 units of tenant assistance representing over $1 billion through the combined total of the Section 521 Rental Assistance and the Section 542 Rural Housing Voucher programs. This represents about $25.9 million or 8,753 fewer units than this time last year.

Most of the Rural Housing program obligations are ahead (in terms of dollars obligated) of where they were at the end of June last year.

Single Family Housing Program Highlights

The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated $13.3 billion (96,093) in loan guarantees. Obligations increased by nearly $1.7 billion (12,399 loans) over last month.

For the Section 502 Direct program, there have been about $471 million (3,828 loans). Obligations increased over last month by about $87 million (699 loans). Very low-income loan obligations as a percentage of the total dollars obligated for the program increased to 32.9 percent. This slight increase in the percent of very low-income dollars obligated reverses a slow but steady decline in the rate of such obligations over the course of the FY. When viewed as a percentage of the number of loans obligated, very low-income loans comprise 36.5 percent of the total number of loans obligated.

The Section 504 Repair and Rehabilitation programs obligated 1,459 loans representing $8.5 million and 3,168 grants representing $19.4 million.

Multi-Family Housing Programs

The Section 538 loan guarantee program remained at 28 obligations totaling $40.7 million.

Section 521 Rental Assistance obligations total 224,684 units representing $999.9 million. Section 542 vouchers totaled 3,421 units representing $12.1 million.

Download the combined document.

Individual Program Files

Summary Files Summary of Rural Development Obligations Summary Data of Rural Development Obligations Compared to Previous Year Summary Data of Rural Development Obligations Compared to Previous Month Summary Chart of Rural Development Obligations USDA Rural Development Eligible Areas Single Family Housing Program Obligations Section 502 Direct Homeownership Total Obligations Section 502 Direct Homeownership Low and Very Low Obligations Section 502 Guaranteed Homeownership Obligations Section 504 Total Home Rehab Obligations Section 523 Self-Help Technical Assistance Grant Obligations

Multi-Family Housing Program Obligations Section 514/516 Farm Labor Housing Obligations Section 515 Rental Housing Obligations Section 521 Rental Assistance Obligations Section 533 Housing Preservation Obligations Section 538 Guaranteed Rental Obligations Multifamily Housing Tenant Voucher Obligations Multifamily Housing Revitalization Demonstration Program Unallocated Program Obligations Section 306 Water/Wastewater Grant Obligations Section 509 Compensation for Construction Defects Multifamily and Single-family Housing Credit Sales

* The Rural Housing Service (RHS) monthly obligation reports are produced by the Housing Assistance Council (HAC) 1025 Vermont Ave., NW, Suite 606, Washington, DC 20005. The monthly figures derive from HAC tabulations of USDA –RHS 205c, d, and f report data. For questions or comments about the obligation reports, please contact Michael Feinberg at 202-842-8600 or michael@ruralhome.org.

The Housing Assistance Council (HAC) presents this month’s report on Fiscal Year (FY) 2015 USDA Rural Housing program obligations.

As of the end of May, USDA obligated 90,957 loans, loan guarantees, and grants totaling about $12.1 billion. This is $268 million or 312 more obligations than the same time last year. Nearly 96 percent of the dollars obligated represent Section 502 Guaranteed loans.

USDA also obligated 224,555 units of tenant assistance representing nearly $997 million through the combined total of the Section 521 Rental Assistance and the Section 542 Rural Housing Voucher programs. This represents about $45.7 million or 7,110 more units than this time last year.

Nearly all of the Rural Housing program obligations are ahead of where they were at the end of May last year.

Single Family Housing Program Highlights

The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated $11.6 billion (83,694) in loan guarantees. Obligations increased by nearly $1.5 billion (10,595 loans) over last month.

For the Section 502 Direct program, there have been about $384 million (3,129 loans). Obligations increased over last month by about $61.3 million (483 loans). Very low-income loan obligations as a percentage of the total dollars obligated for the program decreased to 32.7 percent of the total dollars obligated. When viewed as a percentage of the number of loans obligated, very low-income loans comprise 36.5 percent of the total number of loans obligated. There has been a slow but steady decline in the rate of VLI obligations over the course of the FY.

The Section 504 Repair and Rehabilitation programs obligated 1,250 loans representing $7.3 million and 2,735 grants representing $16.7 million.

Multi-Family Housing Programs

The Section 538 loan guarantee program remained at 28 obligations totaling $40.7 million.

Section 521 Rental Assistance obligations total 221,508 units representing $985.9 million. Section 542 vouchers totaled 3,047 units representing $10.7 million.*

* Note that last month’s report contained a typo. There were $9.5 million in Section 542 voucher obligations.

Download the combined document.

Individual Program Files

Summary Files Summary of Rural Development Obligations Summary Data of Rural Development Obligations Compared to Previous Year Summary Data of Rural Development Obligations Compared to Previous Month Summary Chart of Rural Development Obligations USDA Rural Development Eligible Areas Single Family Housing Program Obligations Section 502 Direct Homeownership Total Obligations Section 502 Direct Homeownership Low and Very Low Obligations Section 502 Guaranteed Homeownership Obligations Section 504 Total Home Rehab Obligations Section 523 Self-Help Technical Assistance Grant Obligations

Multi-Family Housing Program Obligations Section 514/516 Farm Labor Housing Obligations Section 515 Rental Housing Obligations Section 521 Rental Assistance Obligations Section 533 Housing Preservation Obligations Section 538 Guaranteed Rental Obligations Multifamily Housing Tenant Voucher Obligations Multifamily Housing Revitalization Demonstration Program Unallocated Program Obligations Section 306 Water/Wastewater Grant Obligations Section 509 Compensation for Construction Defects Multifamily and Single-family Housing Credit Sales

* The Rural Housing Service (RHS) monthly obligation reports are produced by the Housing Assistance Council (HAC) 1025 Vermont Ave., NW, Suite 606, Washington, DC 20005. The monthly figures derive from HAC tabulations of USDA –RHS 205c, d, and f report data. For questions or comments about the obligation reports, please contact Michael Feinberg at 202-842-8600 or michael@ruralhome.org.

The Housing Assistance Council (HAC) presents this month’s report on Fiscal Year 2015 USDA Rural Housing program obligations.

As of the end of March, USDA obligated 67,388 loans, loan guarantees, and grants totaling about $8.9 billion. This is $1.5 billion or 11,650 more obligations than the same time last year. Over 88 percent of the obligations represent Section 502 Guaranteed loans.

USDA also obligated 173,073 units of tenant assistance representing $767 million through the combined total of the Section 521 Rental Assistance and the Section 542 Rural Housing Voucher programs. This represents about $16.8 million or 6,493 fewer units than this time last year.

Single Family Housing Program Highlights

The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated $8.6 billion (62,409) in loan guarantees. Obligations increased by $1.4 billion (10,255 loans) over last month. This is a significant increase over the average monthly obligations of about $1.1 billion (8,000 loans) for the last several months.

For the Section 502 Direct program, there have been about $177 million (1,496 loans). Obligations increased over the last several months to about $72 million (568 loans) for the month. Very low-income loan obligations as a percentage of the total dollars obligated for the program decreased slightly to 33.6 percent of the total dollars obligated. When viewed as a percentage of the number of loans obligated, very low-income loans comprise 37.5 percent of the total number of loans obligated. One reason for this is that the average loan amount for a low-income borrower has been higher than the average loan for a very low-income borrower. In an effort to stimulate loan obligations for the program, USDA provided its field offices a temporary authorization to obligate loans subject to appraisals and also relaxed certain criteria related to refinancing non-agency existing debt.

The Section 504 Repair and Rehabilitation programs obligated 876 loans representing $5.0 million and 1,965 grants representing $12 million. Section 504 activity was a little higher than it was last month for grants but a little lower for loans.

Multi-Family Housing Programs

The Section 538 loan guarantee program increased to 26 obligations totaling $36.9 million.*

Section 521 Rental Assistance obligations total 170,652 units representing $758.8 million* There was a slight decrease in obligations from last month likely from de-obligations of funds by several states and small or no obligations in others. Section 542 vouchers totaled 2,421 units representing $8.5 million, which is $2.1 million or 572 more obligations than this time last year.

*Note that corrections have been made to last month’s reports due to typographic errors regarding Section 538 loans and Rental Assistance obligations.

Download the combined document.

Individual Program Files

Summary Files Summary of Rural Development Obligations Summary Data of Rural Development Obligations Compared to Previous Year Summary Data of Rural Development Obligations Compared to Previous Month Summary Chart of Rural Development Obligations USDA Rural Development Eligible Areas Single Family Housing Program Obligations Section 502 Direct Homeownership Total Obligations Section 502 Direct Homeownership Low and Very Low Obligations Section 502 Guaranteed Homeownership Obligations Section 504 Total Home Rehab Obligations Section 523 Self-Help Technical Assistance Grant Obligations

Multi-Family Housing Program Obligations Section 514/516 Farm Labor Housing Obligations Section 515 Rental Housing Obligations Section 521 Rental Assistance Obligations Section 533 Housing Preservation Obligations Section 538 Guaranteed Rental Obligations Multifamily Housing Tenant Voucher Obligations Multifamily Housing Revitalization Demonstration Program Unallocated Program Obligations Section 306 Water/Wastewater Grant Obligations Section 509 Compensation for Construction Defects Multifamily and Single-family Housing Credit Sales

* The Rural Housing Service (RHS) monthly obligation reports are produced by the Housing Assistance Council (HAC) 1025 Vermont Ave., NW, Suite 606, Washington, DC 20005. The monthly figures derive from HAC tabulations of USDA –RHS 205c, d, and f report data. For questions or comments about the obligation reports, please contact Michael Feinberg at 202-842-8600 or michael@ruralhome.org.

The Housing Assistance Council (HAC) presents this month’s report on Fiscal Year 2015 USDA Rural Housing program obligations.

January represents the first full month of USDA operations under the FY 2015 appropriations bill signed into law on December 16, 2014. Most rural housing programs received funding levels similar to FY 2014.

As of the end of January, USDA obligated 46,512 loans, loan guarantees, and grants totaling about $6.2 billion. This is $641 million or 3,927 more obligations than the same time last year.

USDA also obligated 104,164 units of tenant assistance through the Section 521 Rental Assistance or Section 542 Rural Housing Voucher programs, about $421 million or 1,652 more units than this time last year.

Single Family Housing Program Highlights

The Section 502 Guaranteed loan program, the largest of the Single Family Housing programs, obligated $6.0 billion (44,101) in loan guarantees. Most of the obligations occurred in October and November when monthly obligation rates averaged about $1.9 billion (nearly 14,000 loans per month). Activity in December and January slowed somewhat to about $1.1 billion (8,000 loans) per month.

For the Section 502 Direct program, there have been about $131 million (1,116 loans). The trend in the Section 502 Direct program has been an increasing level of loan obligations each month. Beginning with a slow start in October, November through January logged marked increases in loan activity. Very low-income loan obligations as a percentage of the total dollars obligated for the program decreased in January to 35.2 percent of the total dollars obligated. When viewed as a percentage of the number of loans obligated, very low-income loans total 38.6 percent of the number of loans obligated. One reason for this is that the average loan amount for a low-income borrower has been higher than the average loan for a very low-income borrower. In addition, while the average low-income loan amount has been gradually increasing each month, the average very low-income loan amount has been decreasing.

The Section 504 Repair and Rehabilitation programs obligated 425 loans representing $2.3 million and 848 grants representing $5.1 million. Section 504 activity has slowed from the levels in October and November ($630 thousand/100 loans per month and nearly $1.5 million/245 grants per month) compared to December and January ($520 thousand/100 loans and about $1 million/180 grants.)

Multi-Family Housing Programs

The Section 538 loan guarantee program increased to 16 obligations totaling $14.6 million, two more loans but $8.6 million fewer dollars obligated than this time last year.

Section 521 Rental Assistance obligations total 103,369 units representing $466 million, about $23 million more dollars than last year at the same time. Nearly 45 percent of the year to date obligations were done in October. Since that time obligations levels have varied from month to month.

Section 542 vouchers totaled 795 obligations representing $2.6 million, 411 fewer obligations than this time last year. Most of the obligations ($2.58 million/780 units) took place in November.

Download the combined document.

Individual Program Files

Summary Files Summary of Rural Development Obligations Summary Data of Rural Development Obligations Compared to Previous Year Summary Data of Rural Development Obligations Compared to Previous Month Summary Chart of Rural Development Obligations USDA Rural Development Eligible Areas Single Family Housing Program Obligations Section 502 Direct Homeownership Total Obligations Section 502 Direct Homeownership Low and Very Low Obligations Section 502 Guaranteed Homeownership Obligations Section 504 Total Home Rehab Obligations Section 523 Self-Help Technical Assistance Grant Obligations

Multi-Family Housing Program Obligations Section 514/516 Farm Labor Housing Obligations Section 515 Rental Housing Obligations Section 521 Rental Assistance Obligations Section 533 Housing Preservation Obligations Section 538 Guaranteed Rental Obligations Multifamily Housing Tenant Voucher Obligations Multifamily Housing Revitalization Demonstration Program Unallocated Program Obligations Section 306 Water/Wastewater Grant Obligations Section 509 Compensation for Construction Defects Multifamily and Single-family Housing Credit Sales

* The Rural Housing Service (RHS) monthly obligation reports are produced by the Housing Assistance Council (HAC) 1025 Vermont Ave., NW, Suite 606, Washington, DC 20005. The monthly figures derive from HAC tabulations of USDA –RHS 205c, d, and f report data. For questions or comments about the obligation reports, please contact Michael Feinberg at 202-842-8600 or michael@ruralhome.org.