Community Development Digest

Finance

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Black Knight: 2016 Originations Reach Highest Level in 9 Years

"A strong fourth quarter finish to the year pushed total 2016 origination volumes to the highest level seen in nine years. We've now seen nine consecutive quarters of double-digit purchase origination growth, and growth overall in the purchase market in 21 of the past 22 quarters.”

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DC First in U.S. to Provide ‘Tax Exempt PACE’ Green Financing

A provider of supportive services to families in Washington, DC, is building a new state-of-the-art headquarters with help from the District of Columbia's Department of Energy and Environment's (DOEE) DC Property Assessed Clean Energy (DC PACE) financing program.

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FHA Unveils New Loan Limits; Most Areas See Slight Increase

Due to changes in housing prices and the resulting change to FHA’s “floor” and “ceiling” limits, the maximum loan limits for forward mortgages increased in 2,948 counties. There were no areas with a decrease in the maximum loan limits for forward mortgages though they remain unchanged in 286 counties.

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Seller-financed Note Creation Takes a Dip in 2015

There were 105,871 seller-financed notes created in 2015, compared to 116,178 in 2014.

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Pittsburgh Mulls Housing Trust Fund

With the advent of the National Housing Trust Fund -- it began doling out money to states for the first time this year after being in political limbo for 10 years and financial limbo for five more years -- states and communities are increasingly considering their own housing trusts.

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Revised ERISA Guidelines Could be Huge Boon for Development

The latest revisions to the Employee Retirement Income Security Act (ERISA) guidelines will allow retirement asset investments that yield social and environmental impact. The revisions address guideline changes made in 2008 that limited investors’ ability to use socially conscious investment vehicles. Indeed, ERISA’s latest revision has the potential to stimulate investment of the nation’s $25 trillion in retirement assets in affordable housing and equitable economic development.

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New Guide Explains Valuation of High-Performance Buildings

The guide helps lenders assess green and energy-efficient building features. This is important since collateral risks may be reduced if green premiums on such properties are being paid in the marketplace

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Free Tool Kit Aids Dodd-Frank Sec. 342 Compliance

The tool kit, reviewed and supported by the Mortgage Bankers Association (MBA), provides a free alternative for financial service businesses to benchmark, document and report their compliance with the proposed standards mandated by Section 342 of the Dodd-Frank Act. It is a confidential resource that includes a workbook and online assessment that maintains user anonymity as it does not store any of the data provided.

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Summit Attracts Hundreds of Housing Industry Stakeholders

More than 700 mortgage originators, housing finance experts, and government officials this week are attending the third annual Ginnie Mae Summit in Arlington, VA. The two-day Summit, which runs Sept. 21-22, explores the biggest challenges facing the housing industry, including the shift to independent mortgage bankers, new business models for managing mortgage servicing rights, and the uncertain regulatory environment.

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Firm Secures $27.8 Million Loan for Affordable Housing Complex

Commercial real estate financial investment firm Walker & Dunlop Inc. has secured a $27,882,000 loan for Lakeside Landing in Tacoma, WA.

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