Mortgage Tech Demo Day

In a half-day format, technology companies will demo their platforms and answer questions. You can tune in for the whole demo day, or strategically drop in on sessions to learn about specific solutions.

DOJ v. NAR and the ethics of real estate commissions

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Investments

PresidentÕ FY2016 HUD budget asks for $49.3B

That’s $4B more than FY15

The White House issued its proposed fiscal year 2016 budget, a wish list of the administration’s funding priorities sure to find little welcome in the new Republican-controlled Congress.

Within that massive budget is the funding it wants for the U.S. Department of Housing and Urban Development.

The budget provides $49.3 billion in gross discretionary funding for the U.S. Department of Housing and Urban Development to expand the number of rental assistance vouchers; increase homeless assistance for vulnerable families; and make targeted investments in communities to help revitalize high-poverty neighborhoods.

It’s heavy on housing assistance and affordable housing priorities.

Here are the highlights.

For the full HUD budget summary, click here.

  • Funding rental housing assistance to support 4.7 million low-income families, including the restoration of 67,000 Housing Choice Vouchers lost in 2013 due to sequestration; Investing $2.5 billion for Homeless Assistance Grants to continue progress toward the Administration’s goals of ending chronic homelessness and homelessness among veterans and families;
  • Providing Public Housing Authorities the support they need to effectively and efficiently deliver Tenant-Based Assistance Programs by funding the optimal level of administrative fees;
  • Demonstrating a new model of affordable housing integrated with supportive services for the elderly and assisting 700 new households for persons with disabilities by providing an additional $35 million;
  • Expanding access to credit with a responsible reduction to FHA mortgage insurance premiums that will enable 250,000 new homebuyers over three years while maintaining the solvency of the Mutual Mortgage Insurance Capital Reserve;
  • Investing $250 million to transform neighborhoods with distressed HUD-assisted housing and concentrated poverty into opportunity-rich, mixed-income neighborhoods through the Choice Neighborhoods program;
  • Providing $748 million to address the housing and community development needs of Native American tribes and $332 million for the Housing Opportunities for Persons with AIDS program;
  • Continuing progress in the Rental Assistance Demonstration by providing $50 million to convert approximately 25,000 public housing units to project-based rental assistance contracts that can leverage private funding to make much needed capital improvements;
  • Increasing job training and financial incentives for public housing and Native American households through Jobs-Plus, an evidence-based program funded at $100 million;
  • Providing communities with new flexibilities and tools to expand the supply and affordability of housing and promote economic opportunity.

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