Items Tagged with 'Affordable housing'


Affordable housing-focused originator joins Walker & Dunlop

Matt Naish will work with Fannie Mae, Freddie Mac and HUD to originate multifamily loans
Before joining W&D, Naish served as the director of affordable housing finance at Berkeley Point Capital and has previously held multiple roles with HUD, where he became an expert in affordable housing policy and FHA multifamily products.
Read More

New York budget to target homelessness, affordable housing

Dedicates $2.5 billion in funds
New York announced its budget late after it surpassed its April 1 deadline. The newly released budget contains many implications for housing, including tuition-free college. A considerable part of the budget is also dedicated toward fighting homelessness and providing affordable housing.
Read More
From HW Magazine

Cutting housing off at the knees

Cuts to HUD budget are short-sighted at best
Programs that create homeowners just by helping with down-payment amounts are the lowest-hanging fruit in our industry. These are people with jobs and qualifying income who just need a one-time lift from the government. But that one-time lift is not just beneficial to the new homeowners — the overall housing economy benefits as well, since homeownership begets more homeownership. 
Read More

What Trump’s tax cuts mean for affordable housing deals

Housing tax credits can determine if projects get off the ground
One of President Donald Trump’s priorities, tax reform, could threaten the affordable housing industry as fewer investors may be enticed to fund projects. Developers said investors are valuing the tax credit 10% to 20% lower since Election Day. The reduction in the credit’s value is already likely to cause a drop of about $1 billion in equity investment for the year.
Read More

Billionaire to build micro-apartments for the homeless

Plan in place for 200 units in Santa Clara
A billionaire real estate developer in California is now looking into an apartment housing project for the homeless and low-income population. The complex will consist of micro-apartments no more than 240 square feet, but the plan is still facing some opposition.
Read More

FHFA makes it official: Fannie, Freddie required to open credit box to "underserved"

FHFA unveils final "Duty to Serve" rule
Eight years after the passage Housing and Economic Recovery Act of 2008 mandated that Fannie Mae and Freddie Mac increase lending to three specific “underserved” markets, the Federal Housing Finance Agency announced Tuesday that the government-sponsored enterprises must work to open the credit box for certain very low-, low-, and moderate-income families.
Read More

Paying the rent: America’s crisis in the shadows

"These renters need help"
[Expert commentary] Officials do not worry so much about desperation-renters, extremely low-income households. After all, those renters have a roof over their heads. The roof may be in a crime-ridden neighborhood, in a substandard building, near failing schools - but it is a roof. So our political discourse, and our will, move on to more pressing issues. The Terwilliger Foundation calls it the “The Silent Housing Crisis.” Yet these renters need help.
Read More