FHFA Releases Letter on the Status of the Conservatorship of Fannie Mae and Freddie Mac
Washington, DC – On February 2, 2010, Acting Director Edward J. DeMarco sent this letter to Chairmen Frank and Dodd and Ranking Members Bachus and Shelby regarding the conservatorship of Fannie Mae and Freddie Mac.
Housing News
WASHINGTON - U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today unveiled the Department’s fiscal year 2011 budget proposal, following President Barack Obama’s presentation of his Administration-wide budget. The HUD budget focuses on fiscal discipline, creating jobs and builds on the administration’s first year accomplishments by proposing reform in HUD’s housing and community development programs to make them more streamlined, efficient, and accountable.
Please click here for CHAPA's budget analysis.
Reversing a four-year trend of sliding sales, single-family home sales in Massachusetts crept up 3 percent in 2009 from 2008, according to new data from The Warren Group, publisher of Banker & Tradesman.
Median home prices, however, dipped 6.6 percent from 2008 and were almost 20 percent lower than the market peak in 2005.
Please click here for the full article.
From the National Housing Trust - The Department of Energy (DOE) today announced new regulations that will help improve the energy efficiency and livability of HUD, Low Income Housing Tax Credit, and USDA assisted apartments by minimizing barriers to the participation of these homes in the Weatherization Assistance Program (WAP).
The number of foreclosures initiated in Massachusetts jumped 28.1 percent in 2009 to 27,928 from 21,804 in 2008 but was 5.5 percent below the level in 2007, according to the latest report from The Warren Group, publisher of Banker & Tradesman.
The number of completed foreclosures, meanwhile, declined 25.4 percent to 9,269 last year from 12,430 in 2008 but was still 21.1 percent ahead of the 7,653 foreclosures recorded two years earlier.
Please click here for the full article.
Please click here for the RFR document.
State Updates
HUD Awards $48 Million to Stabilize High Foreclosure Neighborhoods in Massachusetts
On January 14, HUD Secretary Shaun Donovan announced the award of $1.93 billion in awards under round two of the Neighborhood Stabilization Program (NSP2), including $47.9 million for activities in Massachusetts.
HUD No. 10-012
Andrea Mead
(202) 402-0685
FOR RELEASE
Thursday, January 14, 2010
HUD SECRETARY DONOVAN ANNOUNCES $2 BILLION IN RECOVERY ACT GRANTS TO STABLIZE NEIGHBORHOODS, REBUILD LOCAL ECONOMIES - Stabilization grants to help neighborhoods recover from the housing crisis
As part of the Patrick-Murray Administration’s Massachusetts Recovery Plan to secure the state’s economic future, Governor Deval Patrick and Lieutenant Governor Timothy Murray were in New Bedford today to announce that the state will invest $153.9 million in resources leveraged from various affordable housing programs, American Recovery and Reinvestment Act funds, and private investment to support 26 projects in 17 communities across the state.