Housing News

State Updates Governor Files Legislation to Replace Local Housing Authorities with Six Regional Agencies

BOSTON – January 10, 2013 – On the heels of recent good news about fewer foreclosures, rising home prices and increased home sales comes another encouraging sign for the Massachusetts housing market. MassHousing reported today that it provided more than $1 billion in home mortgage loans last year, exceeding by 52 percent the Agency’s previous record for homeownership lending in a calendar year.

MassNAHRO UNVEILS MAJOR REFORM PLAN FOR MASSACHUSETTS PUBLIC HOUSING The association representing 242 local housing authorities in Massachusetts, rejecting Governor Patrick’s proposal to eliminate local responsibility for public housing, announced today it will propose a sweeping reform of public housing that would promote greater cost efficiency without sacrificing the longstanding tradition of local control and decision-making.

Legislation continues reforms the Administration has made to strengthen the Commonwealth’s Public Housing System and to promote regionalization

From Fannie Mae Press Release: Fannie Mae Reaches Comprehensive Resolution with Bank of America, Yielding Positive Outcome for Taxpayers

From the Federal Reserve Bank of Boston: Independent Foreclosure Review to Provide $3.3 Billion in Payments, $5.2 Billion in Mortgage Assistance WASHINGTON--Ten mortgage servicing companies subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing have reached an agreement in principle with the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board to pay more than $8.5 billion in cash payments and other assistance to help borrowers.

Statement by HUD Secretary Shaun Donovan on the Senate’s Confirmation of FHA Commissioner Carol Galante “Today, the United States Senate took the important step of confirming Carol Galante to become the next Assistant Secretary for Housing and Commissioner of the Federal Housing Administration (FHA). I am pleased that a bipartisan majority in the Senate agreed that Carol offers responsible leadership at a time when we are pursuing necessary reforms to stabilize FHA’s financial outlook.

Please go here to view the DHCD Winter Newsletter which includes Governor Patrick's annoucment on the new housing initiative, a message from Undersecretary Gornstein, Lt. Gov. Murray's accouncement of the goal of 1,000 new units of Supportive Housing by 2015 and announcements from around the Commonwealth. 

December 19, 2012                                                                    CONTACT     Lauren Jones (LG’s Office) 617-725-4000   Matt Sheaff (DHCD) 617-573-1102   Lieutenant Governor Murray Announces Goal of 1,000 New Units of Supportive Housing by 2015 Lieutenant Governor Murray also announces grants for 138 vouchers to support programming for homeless and very low-income households

HUD issued revised FY2013 income limits effective December 11, 2012, superceding the limits posted on December 4.  The FY2013 30%, 50%, 60% and 80% income limits are 1-5% below the FY2012 limits in most areas because HUD is projecting declines in median family incomes.