Subject: Industry News

  • HUD Announces NSP3

    HUD Announces round three of the Neighborhood Stabilization Program, which allows for an additional $1 billion of funding to states and communities fighting the effects of the foreclosure crisis. In all, NSP has allocated $7 billion—$4 billion as part of HERA in 2008, $2 billion more in ARRA in 2009, and now this latest round, included in the Wall Street Reform and Consumer Protection Act. more

  • Streaming Live: The Fed’s REO and Vacant Property Strategies for Neighborhood Stabilization

    The Federal Reserve System is sponsoring a national summit on September 1 and 2 to discuss methods and resources for encouraging neighborhood stabilization in the aftermath of the U.S. home mortgage foreclosure crisis. The forum will showcase findings from Federal Reserve research and policy efforts, including the release of the publication REO and Vacant Properties: Strategies for Neighborhood Stabilization. Click “more” to view a live stream of the conference. more

  • Ford Foundation Invests $200M For Metro Program

    The Ford Foundation has announced a five-year, $200 million effort to help “transform the way that cities, suburbs and surrounding communities grow and plan for the future” by anchoring housing, transportation, and land-use policy to promote economic growth. more

  • New Report Shows Growing Gap Between Income and Rent

    National Low Income Housing Coalition’s Out of Reach 2010, says despite robust levels of rental housing, there remains a dearth of housing that can be considered affordable. more

  • Low Income Housing Group to Release New Housing Wage Data

    The National Low Income Housing Coalition (NLIHC) will release its annual Out of Reach report at 11 a.m., ET, today. Speakers will release for 2010 the often-cited Housing Wage, which shows, for every state, metropolitan area and county in the country, the hourly wage that an individual must earn to afford a modest market-rate rental home. The report also provides local wage and income data for comparison purposes. more

  • Donovan To Keynote Annual Coalition Conference

    The National Low Income Housing Coalition has confirmed that HUD Secretary Shaun Donovan will deliver the keynote address at its 2010 annual conference April 11 through April 14. more

  • Mortgage Modification Conversion Drive Underway

    The U.S. departments of Treasury and Housing and Urban Development kicked off a nationwide campaign to help borrowers who are currently in the trial phase of their modified mortgages Home Affordable Modification Program convert to permanent modifications. more

  • HUD To Assist States, Localities With Foreclosed Properties

    HUD will appropriate $50 million in Recovery Act funds to help state and local governments address the inventory of foreclosed properties assisted under the Department’s Neighborhood Stabilization Program (NSP). HUD is awarding $44.5 million to nine national organizations and another $5.5 million to help local communities purchase, rehabilitate and resell foreclosed properties in especially hard-hit neighborhoods. more

  • CDFIs Receive $90M in Federal Financial Assistance Awards

    Treasury Secretary Tim Geithner has announced $90 million in financial assistance awards for 59 Community Development Financial Institutions (CDFIs) in 26 states and Puerto Rico geared to help communities hard hit by the economic crisis. These awards will support new economic recovery projects in some of our nation’s most vulnerable communities. more

  • Harvard’s Joint Center Weighs in on State of the Nation’s Housing

    Harvard’s Joint Center for Housing Studies released its 2009 “State of the Nation’s Housing” report. The report acknowledges the depressed state of the housing market despite “unprecedented” federal efforts to jumpstart the economy and help homeowners keep up with their mortgage payments, and reports that any recovery will likely be slow moving. more