Senate Partially Restores Funding to Housing Programs – May 21, 2009
Please click here to view CHAPA’s amended budget analysis, which reflects the partial restoration to housing programs.
Obama Administration Announces Homeowner Affordability and Stability Plan – February 18, 2009
Congressman Frank Files TARP for Main Street Bill – July 6, 2009
Congressman Frank filed The TARP for Main Street bill (HR 3068) the last week in June, which calls for funding for NSP 3, among other things. A brief summary is below:
TARP for Main Street Bill
Housing Trust Fund – Sec. 2
Capitalizes the National Affordable Housing Trust Fund to fund the construction, rehabilitation, and preservation of affordable housing.
Neighborhood Stabilization Program (NSP) – Sec. 3
Provides additional funding for NSP which enables states and local governments to purchase and rehabilitate foreclosed properties.
Emergency Mortgage Relief – Sec. 4
Provides funding for emergency loans and assistance to homeowners behind on their mortgage payments because they lost their jobs and who have a reasonable prospect that they will be able resume full mortgage payments.
Assistance for Troubled Multifamily Properties – Sec. 5
Funds efforts to stabilize mortgages for multifamily properties which are in default or foreclosure, or have recently been foreclosed.
Please click here for further detail on the Bill.
HUD Schedules Webcasts on Implementation of Stimulus Bill – May 7, 2009
HUD has scheduled a series of webcasts pertaining to ARRA implementation. They are all next week, May 12, 13, and 14. A description of each webcast, their dates and times can be found here.
The HUD webcast home page can be found here, where you can also link to archived webcasts, and get notice of upcoming webcasts.
Federal Housing Finance Agency Statement of Support for Multifamily Housing – September 17, 2008
FHFA has stated that business will continue as usual at the Enterprises during the conservatorship—this applies to both their single-family and multifamily businesses.
Please click here to view the full announcement.
Fannie Mae and Freddie Mac Announce Streamlined Loan Modification Program – November 12, 2008
The Federal Housing Finance Agency announced a new program designed to greatly reduce preventable foreclosures with a simplified, streamlined loan modification program to get struggling homeowners into mortgages that they can afford. FHFA believes it is an achievable goal if homeowners, banks, mortgage servicers, investors, Fannie Mae and Freddie Mac all work together.
Please click here to view the full press release announcing the program.