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Policy News town

HAC’s Comments on Duty to Serve – July 2023

The FHFA requested comments on Fannie Mae and Freddie Mac’s Duty to Serve plans as part of their annual Duty to Serve Listening Sessions. Jonathan Harwitz, HAC’s Director of Public Policy, provided oral comments, accompanied by longer written comments, on behalf of HAC. If implemented robustly, Duty to Serve has the potential to improve the lives of people living in the most underserved communities. HAC’s comments focused on:

  • Maintaining USDA Section 515 preservation as a core goal of the rural Duty to Serve Plans;
  • Permitting targeted equity investments in CDFIs;
  • Using, and further refining, the new Colonias Census Tract definition; and
  • Meeting rural LIHTC equity investment goals.

Read HAC’s full comments.

HAC DTS Rural Listening Session Comments
Policy News town

HAC Submits Comments on Proposed Duty to Serve Modifications

The Federal Housing Finance Agency (FHFA) requested comments on Fannie Mae and Freddie Mac’s (the Enterprises) proposed modifications to their Duty to Serve 2022 Underserved Markets Plans. If implemented robustly, Duty to Serve has the potential to improve the lives of people living in the most underserved communities. HAC’s comments highlighted two proposed modifications:

Key Takeaways

  1. USDA Section 515 preservation is critical to the Duty to Serve mission. Freddie Mac’s proposal to remove the Section 515 purchases from their Plan should be rejected.
  2. Equity investments in CDFIs are the single most impactful action that the FHFA could currently take to improve Duty to Serve outcomes. Fannie Mae’s proposal to add equity investments in Native CDFIs to their plan is a step in the direction of better serving Indian Country. For more suggestions on how the Enterprises could better serve Indian Country, see HAC’s comments from the July 2022 Native American Housing Listening Session.

Read HAC’s full comments.

HAC Duty to Serve Plan Modification Comments

HAC also signed on to a letter from the Underserved Mortgage Markets Coalition with a longer set of comments on the proposed modifications.

All the comments received by the FHFA can be viewed here.

 

Policy News field

HAC’s Comments on Duty to Serve for Native American Communities

The FHFA requested comments on Fannie Mae and Freddie Mac’s Duty to Serve plans for Native American communities. Dave Castillo, CEO of Native Community Capital and a HAC Board Member, provided oral comments, accompanied by longer written comments, on behalf of HAC. Housing finance in Native American communities has been a stunning example of both racial and geographic inequity at both the policy and private market levels for decades. If implemented robustly, Duty to Serve has the potential to improve the lives of people living in the most underserved communities. HAC has several improvements that we think should be made to best serve Native communities’ need:

Key Takeaways

  • Allow GSE Equity Investments for Native CDFIs

    Equity investments would allow CDFIs serving Native communities to strengthen their capital structures, leverage additional debt capital, and, as a result, increase lending and investing in their communities.

  • Increase purchase goals for mortgages on Native lands

    Fannie Mae has no set goal and Freddie Mac’s is very modest. Increasing these would show the Enterprises’ commitments to Native housing and help Native communities house more people adequately.

  • Establish Native lending teams

    These teams would focus on Native communities and help ensure that these communities are treated equitably and with cultural competency.

  • Create Native-tailored mortgage products

    Tribal lands have unique property ownership structures and creating loan structures that can meet Native communities’ specific needs would help increase investments and economic growth.

  • Increase LIHTC investment in Native communities

    Despite how successful LIHTC has been in many communities, rural and Native communities have not been able to benefit equitably from these tax credits. The Duty to Serve plans have goals to invest in rural communities but adding goals for Native communities specifically would ensure that they are served as well.

HAC News: October 31, 2019

News Formats. pdf

October 31, 2019
Vol. 48, No. 22

Senate passes USDA and HUD funding bill for FY20Comments sought on changes to Fannie Mae and Freddie Mac’s Duty to Serve plans, and new documents releasedCIRD hosts 2019 learning cohort summit in Thomas, WVSenate’s USDA funding bill includes money to address black land lossBill to legalize farmworkers and revise H-2A program would also raise rural housing fundingFamily Unification Program vouchers availableImproving CRA for Rural AmericaThe Older Population in Rural America: 2012-2016Adversity and Assets: Identifying Rural OpportunitiesEvaluation of HUD’s Rental Assistance Demonstration (RAD): Final ReportLenders: To Preserve Affordable Housing, Manage Climate RiskRural Minnesota’s Lack of Shelters Make Homeless an “Invisible” PopulationUrban and Rural Homeless ComparisonsApply by Nov. 15 for HAC grants to support housing to rural veteransREGISTER BY NOV. 1 FOR 502 OR HOUSING COUNSELOR TRAINING! • Need capital for your affordable housing project?

HAC News Formats. pdf

October 31, 2019
Vol. 48, No. 22

November is Native American Heritage Month.

Senate passes USDA and HUD funding bill for FY20.

The Senate’s first FY20 appropriations bill passed on October 31, a “minibus” package that includes funding for HUD and USDA, along with other agencies. Amendments adopted on the Senate floor included two rural housing provisions. One, sponsored by Sens. Tina Smith (D-MN) and Mike Rounds (R-ND), would allow owners of USDA-financed rental properties to request Rental Assistance agreements with terms of 20 years rather than one year; the funding for longer contracts would still be subject to annual appropriations. The other, from Sens. Smith and Marco Rubio (R-FL), tells USDA to prioritize rental properties’ maintenance needs. Differences between the Senate and House bills will need to be resolved, so these agencies may still be included in a second continuing resolution that is expected to fund the government after the current CR ends on November 21.

Comments sought on changes to Fannie Mae and Freddie Mac’s Duty to Serve plans, and new documents released.

The Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, requests input by November 15 on modifications to the enterprises’ plans for achieving their Duty to Serve obligations for manufactured housing, affordable housing preservation and rural housing. FHFA also released a strategic plan that sets out a framework for preparing to end the entities’ conservatorships, a 2020 scorecard explaining how their activities will be assessed, and a report covering their 2018 affordable housing activities. The report concludes that in 2018 both exceeded the benchmarks for all their housing goals and complied with their Duty to Serve requirements.

CIRD hosts 2019 learning cohort summit in Thomas, WV.

Working with local host partners and regional community lenders, Woodlands Development Group welcomed 34 participants from 17 states to the Citizens’ Institute on Rural Design Cohort Learning Summit. CIRD is a collaboration among HAC, the National Endowment for the Arts and buildingcommunityWORKSHOP. The two-and-a-half-day event included workshops on different design and creative placemaking concepts, site visits to ongoing economic development projects in the town of Thomas, WV, and peer exchange activities that provided participants an opportunity to advance their own rural design challenges.

Senate’s USDA funding bill includes money to address black land loss.

The Senate’s FY20 USDA appropriations bill includes $5 million to launch a program authorized in the 2018 Farm Bill that will make loans to intermediaries to help resolve ownership issues for farmers with “heirs property” – land that has multiple legal owners after ownership passed through several generations without wills or clear titles. African-American farmers in the South have been deemed ineligible for USDA loans when they could not prove title to their land, and in some cases have lost the land. The issue, along with other causes of black land loss, has been covered in recent articles by the Atlantic, the New Yorker, the Washington Post, the New Food Economy, the Pew Trusts and others.

Bill to legalize farmworkers and revise H-2A program would also raise rural housing funding.

The Farm Workforce Modernization Act, introduced on October 30 by Reps. Zoe Lofgren (D-CA) and Dan Newhouse (R-WA), would create a process for farmworkers and their families to obtain legal status in the U.S., tweak the H-2A visa program for temporary farmworkers, increase the number of green cards available for farmworkers and establish a mandatory E-Verify system for farm employers to check their workers’ legal status. Its housing provisions include the text of the Strategy and Investment in Rural Housing Preservation Act, H.R. 3620, which passed the House on September 10, with some additions including the 20-year Rental Assistance contract provision that is also in the Senate’s FY20 USDA appropriations bill. The Farm Workforce Modernization Act would also allow Rental Assistance to cover up to half the operating costs of Section 514/516 housing that is occupied by H-2A workers if the units were previously unoccupied or underutilized by other workers. Finally, it would authorize up to $200 million for Section 514 loans and $30 million for Section 516 grants, as well as $2.7 billion for Section 521 Rental Assistance, each year through fiscal year 2029.

Family Unification Program vouchers available.

HUD will award new FUP vouchers to PHAs that partner with public child welfare agencies and Continuums of Care to administer assistance on behalf of families for whom the lack of adequate housing is a primary factor in a potential loss of custody or on behalf of young people between 18 and 24 at risk of homelessness upon discharge from foster care. Applications are due December 17. For more information, contact HUD staff.

Recent publications and media of interest

  • Improving CRA for Rural America, written by HAC researcher Keith Wiley for Shelterforce, argues that Community Reinvestment Act regulations should be recrafted to incentivize investments in underserved and economically distressed communities, many of which are rural.
  • The Older Population in Rural America: 2012–2016, a recent Census Bureau report, discusses “new and important ways” that aging populations could impact rural America including housing and public transportation options. Research shows that while seniors want to remain in their own homes, those in rural areas frequently face challenges related to having few housing options and the limited availability of nearby social services.
  • Adversity and Assets: Identifying Rural Opportunities, part of a series by the Center for American Progress, examines economic trends and indicators in counties across the rural-urban continuum.
  • Evaluation of HUD’s Rental Assistance Demonstration (RAD): Final Report concludes that initial implementation of HUD’s RAD program for conversion of public housing to project-based Section 8 housing accomplished its principal goals of leveraging capital, preserving affordable housing and mitigating relocation effects on tenants.
  • Lenders: To Preserve Affordable Housing, Manage Climate Risk, a National Resources Defense Council blog post, argues that disaster recovery funding favors financially better-off homeowners and needs to change to equally prioritize recovery funding for renters and homeowners.

Apply by Nov. 15 for HAC grants to support housing aid to rural veterans.

HAC’s Affordable Housing for Rural Veterans initiative supports local nonprofit housing development organizations that meet or help meet the affordable housing needs of veterans in rural areas. Grants typically range up to $30,000 per organization and must support bricks-and-mortar projects that assist low-income, elderly and/or disabled veterans with home repair and rehab needs, support homeless veterans, help veterans become homeowners and/or secure affordable rental housing. This initiative is funded through the generous support of the Home Depot Foundation. Applications are due November 15 by 5:00 pm Eastern time. For more information, contact HAC staff, ahrv@ruralhome.org.

*REGISTER BY NOV. 1 FOR 502 PACKAGING OR HOUSING COUNSELOR TRAINING!*

Only a few spaces remain. Both courses will be held in Tampa, FL on November 12-14.The Section 502 packaging advanced coursetrains experienced participants to assist potential borrowers and work with RD staff, other nonprofits and regional intermediaries to deliver successful Section 502 loan packages. The housing counseling course sets you up for success in meeting HUD’s new certification requirements for housing counselors. For more information, contactHAC staff, 404-892-4824.

Need capital for your affordable housing project?

HAC’s loan funds provide low interest rate loans to support single- and multifamily affordable housing projects for low-income rural residents throughout the U.S. and territories. Capital is available for all types of affordable and mixed-income housing projects, including preservation, farmworker, senior and veteran housing. HAC loan funds can be used for pre-development, site acquisition, site development and construction/rehabilitation. Contact HAC’s loan fund staff at hacloanfund@ruralhome.org, 202-842-8600.

Please note: HAC is not able to offer loans to individuals or families. Borrowers must be nonprofit or for-profit organizations or government entities (including tribes).

FHFA Publishes Fannie Mae’s and Freddie Mac’s Duty to Serve Underserved Market Plans

Updated: December 18, 2017

FHFA Publishes Fannie Mae’s and Freddie Mac’s Duty to Serve Underserved Market Plans

The Federal Housing Finance Agency (FHFA) has published Fannie Mae’s and Freddie Mac’s Underserved Markets Plans for 2018-2020 under the Duty to Serve program. The Plans become effective January 1, 2018.

Fannie Mae’s Underserved Markets Plan

Freddie Mac’s Underserved Markets Plan

HAC Comments on Duty to Serve Underserved Market Plans – July 10, 2017

The Housing Assistance Council (HAC) appreciates the opportunity to comment on Fannie Mae’s and Freddie Mac’s Duty to Serve Underserved Markets Plans for Rural Markets. As a strong advocate for the Duty to Serve provisions of the Housing and Economic Recovery Act of 2008, HAC appreciates the time, effort, and resources FHFA, Fannie Mae, and Freddie Mac have undertaken to develop these underserved market plans. The core of HAC’s work for over four decades has been rural and underserved communities. HAC understands the complexities and difficulties of working in these communities. HAC also understands the promise and possibility of Duty to Serve to affect real and measurable change in these long overlooked and largely forgotten communities and people. We appreciate that FHFA and the Enterprises have not forgotten them, and we look forward to assisting you and the Duty to Serve effort generally to achieve its mandate to improve liquidity and access to affordable housing in underserved markets.

Given its organizational focus on rural housing, HAC focused largely on the Rural Markets component of the plans. HAC presents comments on each Enterprise’s plan separately. After the Enterprise-specific comments, HAC presents general comments and suggestions to the Enterprises and FHFA on issues of rural multifamily housing and preservation.

Read HAC’s full comments.


Fannie Mae Rural Purchase Activity, 2013-2015

dts-fannie-mae

Freddie Mac Rural Purchase Activity, 2013-2015

dts-freddie-mac


The Federal Housing Finance Agency issued a final rule to implement the Duty to Serve provisions which require Fannie Mae and Freddie Mac to serve three specified underserved markets – manufactured housing, affordable housing preservation and rural housing – by improving the distribution and availability of mortgage financing in a safe and sound manner for residential properties that serve very low-, low- and moderate-income families.

Visit FHFA.gov/DTS for the press release, final rule, fact sheet, public listening session details, timeline and more.

HAC Will provide a summary of the Duty to Serve Rule soon.

Stakeholder Webinar

FHFA will provide a high-level overview of the final rule and answer stakeholder questions via webinar on Monday, Dec. 19 at 2 p.m. ET.

You may submit questions in advance by emailing DutyToServeStakeholders@FHFA.gov with “webinar question” in the subject line. Please submit your questions by COB Thursday, Dec. 15.


The Housing and Economic Recovery Act of 2008 mandates that Fannie Mae and Freddie Mac have a ‘Duty to Serve’ three traditionally underserved markets of:

  • Rural Housing
  • Manufactured Housing
  • Affordable Housing Preservation

The GSEs are tasked with increasing liquidity and investment capital in these markets.

The Federal Housing Finance Agency (FHFA) issued a Proposed Rule on Duty to Serve on December 15, 2015. Comments to the Rule were due on March 17, 2016.

Link to Proposed Rule sent to Federal Register

HAC Resources on Duty to Serve

HAC Comments on Proposed Duty to Serve Rule – March, 17 2016

HAC Comments on Proposed Duty to Serve Rule – July 22, 2010

HAC Comments on Duty to Serve Advanced Notice of Rule Making – September 18, 2009

HAC Webinar on Duty to Serve

The Housing Assistance Council (HAC) convened an interactive e-learning experience to assist housing providers and policymakers better understand the Duty to Serve Rule, and what it may mean for Rural America. The session was also intended to help inform comments to the Duty to Serve Rule.

Introduction | Power Point Presentation (22 MB) |Webinar Recording

Additional Resources on Duty to Serve

Interactive Map of Proposed Duty to Serve Rural Area

screen-capture-of-mapping-rural-america map

HAC’s Rural and Small Town Typology Database – Technical Documentation

Map of HAC’s Recommended Changes to FHFA Proposed Rural Area

DutyToServeMap FHFA HAC Recommended Changes

Map of GSE Loan Activity in Rural Areas

GSE Activity 2012 2014  Map

Map of FHFA Proposed Rural High-Need Areas and Persistent Poverty Counties

High Need Persistent Poverty Map

List of Suburban Tracts in FHFA Proposed Duty to Serve ‘Rural Areas’

List of Rural and Small Town Tracts Omitted From FHFA Proposed Duty to Serve ‘Rural Areas’

HAC News: November 17, 2017

HAC News Formats. pdf

November 17, 2017
Vol. 46, No. 23

November is Native American Heritage Month • Fannie Mae and Freddie Mac approved for LIHTC equity investments • House and Senate tax bills advance • House passes flood insurance bill • USDA announces Rural Development state directors • CFPB director Cordray resigns • VA offers per diem assistance • Input requested on free access to credit scores • Section 504 handbook revised • Annual Adjustment Factors released for FY18 • Fannie and Freddie met most affordable housing goals in 2016 • 40,000-120,000 HUD Housing Choice Vouchers could be unfunded in FY18 • Research shows federal housing assistance widespread but insufficient — NEED CAPITAL FOR YOUR AFFORDABLE HOUSING PROJECT? —

HAC News Formats. pdf

November 17, 2017
Vol. 46, No. 23

November is Native American Heritage Month.

Fannie Mae and Freddie Mac approved for LIHTC equity investments. FHFA, which regulates Fannie Mae and Freddie Mac, has announced that, effective immediately, it will permit their limited re-entry into the LIHTC market as equity investors. The announcement said most of their investments will be used to facilitate transactions that support underserved markets and complement their Duty to Serve rural housing, affordable housing preservation, and manufactured housing.

House and Senate tax bills advance. On November 16, before adjourning for Thanksgiving, the full House approved its Tax Cuts and Jobs Act, H.R. 1 (see HAC News, 11/6/17), and the Senate Finance Committee approved its version of the bill. The Senate bill would keep the mortgage interest deduction and, unlike the House bill, would preserve the New Markets Tax Credit through 2019. Both bills retain the LIHTC, and the Senate – but not the House – also protects the use of private activity bonds that make 4% tax credits possible. Neither bill makes adjustments to prevent a negative impact on affordable housing investments that would be created by their substantial decrease in the corporate tax rate. In addition, aside from direct programmatic changes to housing-related programs, because the tax bills reduce revenue to the federal government they are expected to result in later funding cuts for domestic discretionary programs including housing.

House passes flood insurance bill. Passed by the full House on November 14, H.R. 2874 would reauthorize the National Flood Insurance Program, which expires December 8, for five years. It would also make changes, including alterations intended to introduce private market competition. Senators are still negotiating terms of their own NFIP bill.

USDA announces Rural Development state directors. A complete list of state directors for RD (and for the Farm Service Agency) was announced by Secretary of Agriculture Sonny Perdue.

CFPB director Cordray resigns. Richard Cordray, director of the Consumer Financial Protection Bureau since its inception, plans to leave his post by the end of the month. It is not clear yet what this will mean for the agency, created by the Dodd-Frank Act and repeatedly attacked in efforts to repeal or revise that law.

VA offers per diem assistance. Nonprofits, state and local governments, tribal governments, and faith-based and community-based organizations are eligible for Per Diem Only funds under the Homeless Providers Grant and Per Diem Program. Applicants can apply by February 21, 2018 to continue providing Transition in Place grants or to begin a TIP housing model to facilitate housing stabilization. For more information, contact Jeffery Quarles, VA, 877-332-0334.

Input requested on free access to credit scores. To learn more about the experiences of consumers, counseling providers, and others regarding access to free credit scores, the Consumer Financial Protection Bureau requests comments by February 12. For more information, contact Irene Skricki, CFPB, 202-435-7181.

Section 504 handbook revised. Several changes to USDA RD’s single-family program handbook impact Section 504 home repair loans and grants for homeowners. For more information, contact an RD state office.

Annual Adjustment Factors released for FY18. HUD’s AAFs are used to adjust Section 8 contract rents on their anniversaries. Contact people vary by program and are listed in the notice.

Fannie and Freddie met most affordable housing goals in 2016. The Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, reported recently that Freddie Mac met its single-family and multifamily goals in 2016, while Fannie Mae met its multifamily goals and some of its single-family goals. (The affordable housing goals are separate from the entities’ Duty to Serve requirements.)

40,000-120,000 HUD Housing Choice Vouchers could be unfunded in FY18. The Center on Budget and Policy Priorities has calculated that, due to rising rents and other factors, neither the House nor Senate appropriations bills for FY18 provides enough funding to renew all HUD vouchers currently in use or lost due to shortfalls in FY17. Both bills would add vouchers for specific populations, but not enough to offset the losses.

Research shows federal housing assistance widespread but insufficient. “Federal Rental Assistance Provides Affordable Homes for Vulnerable People in All Types of Communities,” published by the Center on Budget and Policy Priorities in partnership with HAC, covers the scope and limitations of federal rental assistance programs. The analysis uses HAC’s definition of “rural” places, which is based on Census tracts rather than on entire counties, as metropolitan and nonmetro designations are. Due primarily to funding levels for federal housing programs, the research found that, for every assisted household in the U.S., roughly three renter households pay half or more of their income for housing. Assistance is distributed proportionally, relative to need, across rural, suburban, and urban places. In rural areas, 70% of federal rental assistance is from project-based programs, while in urban and suburban places, use is evenly split between tenant-based and project-based.

NEED CAPITAL FOR YOUR AFFORDABLE HOUSING PROJECT?

HAC’s loan funds provide low interest rate loans to support single- and multifamily affordable housing projects for low-income rural residents throughout the U.S. and territories. Capital is available for all types of affordable and mixed-income housing projects, including preservation, farmworker, senior, and veteran housing. HAC loan funds can be used for pre-development, site acquisition, site development, and construction/rehabilitation. Contact HAC’s loan fund staff at hacloanfund@ruralhome.org, 202-842-8600.

Please note: HAC is not able to offer loans to individuals or families. Borrowers must be nonprofit or for-profit organizations or government entities (including tribes).

Materials Posted: Duty to Serve And What it Means for Rural America (Webinar)

Materials Posted:

Introduction | Power Point Presentation (22 MB) | Webinar Recording | Mapping Utility

The Housing Assistance Council (HAC) is convening an interactive e-learning to assist housing providers and policymakers better understand the Duty to Serve Rule, and what it may mean for Rural America. The session is also intended to help inform comments to the Duty to Serve Rule.

The Housing and Economic Recovery Act of 2008 mandates that Fannie Mae and Freddie Mac have a ‘Duty to Serve’ three traditionally underserved markets of:

  • Rural Housing
  • Manufactured Housing
  • Affordable Housing Preservation

The Federal Housing Finance Agency (FHFA) is currently accepting comments on how to implement the Duty to Serve Rule. The Housing Assistance Council (HAC) is convening an interactive e-learning to assist housing providers and policymakers better understand the Duty to Serve Rule, and what it may mean for Rural America. The session is also intended to help inform comments to the Duty to Serve Rule.

While all three underserved markets extremely are important, this particular session will primarily focus on the Rural Housing component of Duty To Serve (but the other areas for comment will also be discussed).

As Economy Rebounds, Government Still Plays Role In Mortgage Business

As the economy rebounds, the federal government still plays a role in the mortgage business. NPR’s Planet Money investigates Fannie Mae and Freddie Mac’s recent activity within the context of conservatorship.

HAC News: May 14, 2014

HAC News Formats. pdf

May 14, 2014
Vol. 43, No. 10

• House subcommittee approves cuts for FY15 HUD spending • Lisa Mensah nominated as USDA Under Secretary for Rural Development • CDFI Fund offers bond guarantees • CFPB proposes mortgage rule amendments • Manufactured housing label fee increase proposed • FHFA Director addresses Fannie Mae and Freddie Mac’s future • VA proposes changes, including homeless definitions, for two programs

May, 2014
Vol. 43, No. 10

House subcommittee approves cuts for FY15 HUD spending. On May 7 the House Transportation-HUD Appropriations Subcommittee passed a spending bill that reduces HOME by 30% from 2014 and cuts fair housing, HOPWA, lead-hazard control, public housing capital, and project-based rental assistance. The Center on Budget and Policy Priorities estimates the bill’s funding probably would not be enough to renew all Housing Choice Vouchers. The bill includes HUD’s SHOP program as part of HOME, following a recommendation in the President’s budget. The full House Appropriations Committee is expected to act during the week of May 19. [tdborder][/tdborder]

HUD Program
(dollars in millions)

FY13
Approp.a

FY14
Approp.

FY15
Admin. Budget

FY15
House Bill

Cmty. Devel. Fund
CDBG
Sustainable Commun. Init.
Rural Innovation Fund

3,308
2,948
0
0

3,100
3,030
0
0

2,870
2,800
0
0

3,060
3,000
0
0

HOME
SHOP setaside

1,000
b

1,000
b

950
10

700
10

Self-Help Homeownshp. (SHOP)

13.5

10

c

c

Tenant-Based Rental Asstnce.
VASH setaside

18,939.4
75

19,177.2
75

20,100
75

19,356
75

Project-Based Rental Asstnce.

9,339.7

9,516.6

9,346

9,346

Public Hsg. Capital Fund

1,886

1,875

1,925

1,775

Public Hsg. Operating Fund

4,262

4,400

4,600

4,400

Choice Neighbrhd. Initiative

120

90

120

0

Housing Trust Fund

d

d

1,000

0

Native Amer. Hsg. Block Grant

650

650

650

650

Homeless Assistance Grants

2,033

2,105

2,406.4

2,105

Rural Hsg. Stability Prog.

e

e

e

e

Hsg. Opps. for Persons w/ AIDS

334

330

332

303

202 Hsg. for Elderly

377

385.3

440

420

811 Hsg. for Disabled

165

126

160

135

Fair Housing

70.8

66

71

46

Healthy Homes & Lead Haz. Cntl.

120

110

120

70

Housing Counseling

45

45

60

45


a.
Figures shown do not include 5% sequester. b. Funded under separate Self-Help & Assisted Homeownership Opportunity Program. c. Funded as a setaside in HOME. d. National Housing Trust Fund is “mandatory” funding, not discretionary, so does not need to be funded through appropriations legislation, although the Administration did include it in the budget request. e. Funded under Homeless Assistance Grants.

Lisa Mensah nominated as USDA Under Secretary for Rural Development. Mensah, currently executive director of the Aspen Institute Initiative on Financial Security, needs to be confirmed by the Senate. Deputy Under Secretary Doug O’Brien is currently Acting Under Secretary.

CDFI Fund offers bond guarantees. Certified CDFIs can apply by June 23 to become Qualified Issuers in the CDFI Bond Guarantee Program and by June 30 to receive bond guarantees. Email bgp@cdfi.treas.gov.

CFPB proposes mortgage rule amendments. Comments are due June 5 on suggested changes including some new nonprofit exemptions and July 7 on other specified topics. Contact Pedro De Oliveira, CFPB, 202-435-7700.

Manufactured housing label fee increase proposed. Comment by June 2 on HUD’s request to raise the fee for each new section from $39 to $95-$105. Contact Pamela B. Danner, HUD, 202-708-6423.

FHFA Director addresses Fannie Mae and Freddie Mac’s future. In a May 13 speech, Mel Watt presented a strategic plan for ongoing conservatorship. He mentioned increasing activity in small multifamily properties and manufactured home communities, and did not address the not-yet-implemented duty to serve underserved markets including rural areas, or the National Housing Trust Fund.

VA proposes changes, including homeless definitions, for two programs. Comments are due June 23 on Supportive Services for Veteran Families (contact John Kuhn, 877-737-0111) and in July on Health Care for Homeless Veterans (to be published in the May 15 Federal Register; contact Robert Hallett, 781-687-3187).