Please click here to download the DHCD's 40B Design Guidebook.
Housing News
The Federal Reserve Board on Tuesday proposed a rule that would require sponsors of asset-backed securities (ABS) to retain at least 5 percent of the credit risk of the assets underlying the securities.
Please click here to view Timothy Warren, Jr's presentation.
Click here to view Peter Gagliardi's presentation.
HUD announced winners of Choice Neighborhoods planning grants on Friday as well as 6 finalists selected to compete for $61M in implementation grants. Please click here to read tha press release.
State Updates
House Ways and Means Budget Set for Release in Four Weeks; Advocates Continue to Make the Case for Affordable Housing Programs
Affordable housing advocates have been busy walking the halls of the State House, sponsoring lobby days, holding meetings, and making phone calls to advocate for adequate funding for the state’s affordable housing programs.
WASHINGTON, D.C. – House Appropriations Chairman Hal Rogers gave the following statement on the floor of the House today in support of a Continuing Resolution (H.J.Res. 48) that will prevent a government shut down for an additional three weeks, while cutting $6 billion in non-security discretionary spending.
According to MHP's Foreclosure Monitor's latest analysis of distressed property data, the gradual shift in foreclosure activity away from urban areas into rural and suburban communities is continuing. Please click here to read more.
The House of Representatives passed its version of the FY11 federal budget on February 19th, with $61 billion in cuts compared to last year’s budget. This includes a 12% cut to affordable housing and community development programs, which would have to be absorbed in the seven months remaining in this fiscal year. The final outcome of this budget debate will greatly influence the upcoming FY12 budget process.
To read the full press release from the House Financial Services Committee, click here.
To read Congressman Barney Frank's response, click here.
An Annual Look at the Housing Affordability Challenges of America’s Working Households
By Keith Wardrip February 2011
This brief summarizes the key findings of an analysis of housing affordability trends for working households (see sidebar) between 2008 and 2009. The analysis shows that nearly one in four working households spends more than half of their income on housing costs. And despite falling home values, housing affordability worsened significantly for working owners and renters between 2008 and 2009.