Story of the Week

Sequester Cuts Begin To Take Hold
   Public housing authorities across the county begin to apply stringent measures to compensate for the deep cuts in HUD subsidies triggered by the 2013 sequester of appropriations to help ease the national debt. Agency after agency surface with a list of Section 8 housing vouchers they must shelve to meet the 5% cut in the program. Other housing programs are beginning
posted 5/9/13 3:30 PM  read complete story

Investors Seen As Housing Dividend
   Bargain-hunting Wall Street investors buying foreclosed homes for conversion to temporary rental assets are unlikely to trigger another housing bubble when the homes are placed back on the sales market later. There are too few homes -- estimates hover at around 200,000 units so far -- to make much of a difference, and their return as home prices rise
posted 5/2/13 5:59 PM  read complete story

Homebuilders: Outlook Rosy But Iffy
   Rising home prices in much of the nation boost homebuilders’ optimism of a sustained housing market recovery. But the National Association of Home Builders says obstacles remain as building material costs and land prices rise, while availability of skilled labor remains meager.
posted 4/25/13 3:22 PM  read complete story

HUD: FHA Bailout Long Way Off … If Ever
   Despite mounting fears in Congress of a taxpayer bailout for the Federal Housing Administration, HUD Secretary Shaun Donovan tells the House Appropriations Committee on April 17 he thinks a tax infusion may be needed at some point, but not now
posted 4/18/13 4:10 PM  read complete story

Budget: Section 8 Is Central HUD Focus
   Reform of the Section 8 program and progress in efforts to replace traditional public housing with Section 8 subsidized housing are the principal HUD goals in President Barack Obama’s FY 2014 spending proposal. Sharing that policy platform is HUD’s focus on neighborhood revitalization in high-poverty areas with a goal of transforming 30
posted 4/10/13 5:36 PM  read complete story

Fannie, Freddie Have New Problem: Profits
   Reform of Fannie Mae and Freddie Mac takes a new turn with reports of colossal profits only four years after skirting bankruptcy and a takeover by the Treasury Department. The profits, engineered by strategies put in place by Federal Housing Finance Agency Acting Director Edward DeMarco, have lawmakers second-guessing about an overhaul of
posted 4/3/13 6:46 PM  read complete story

FHA Mortgage Change Vexes Industry
   What will happen after the Federal Housing Administration applies its new reverse mortgage standard April 1? That question is on the lips of the banking and housing industries concerned that a move by FHA to shore up its finances will slow business.
posted 3/29/13 09:59 AM  read complete story

More FY13 Money For Public Housing
   Public housing authorities will have more money for two major programs, but FY 2013 HUD funding still remains about 19% below what the department considers necessary to maintain programs at full strength. The continuing resolution adopted by Congress March 21 keeps the deficit sequestration in place through the remainder of the spending year
posted 3/21/13 3:48 PM  read complete story

House Throws Down Budget Gauntlet
   A FY 2014 budget resolution that would zero out Fannie Mae and Freddie Mac and tighten the credit reins on the Federal Housing Administration is unveiled by the House Budget Committee more than a month in advance of its April 15 due date.
posted 3/12/13 6:26 PM  read complete story

Fiscal Fight Begins As CR Gets Nod
   House Democrats set the stage on the House floor for a battle in the Senate over a Republican solution for the remainder of the FY 2-013 federal funding cycle -- focus on overriding the sequestration now cutting about 5% across-the-board from federal programs.
posted 3/8/13 09:49 AM  read complete story