Affordable Housing

News & Analysis as of

FHFA Orders Contributions to Housing Trust Fund

Earlier this month, the Federal Housing Finance Agency (“FHFA”) ordered Fannie Mae and Freddie Mac to begin making contributions to the Housing Trust Fund (“HTF”) and the Capital Magnet Fund (“CMF”). The HTF is a formula...more

Chicago City Council introduces draft affordable housing ordinance amendment

Chicago’s City Council has introduced a proposed amendment to the existing affordable housing ordinance (the 2015 ARO) which, if passed, will change, and in most cases increase, affordable housing requirements applicable to...more

Orrick's Financial Industry Week in Review

Council of EU Publishes Final Compromise Text of ELTIF Regulation - The Council of the EU has published an "I" item note from its General Secretariat to the Permanent Representatives Committee (COREPER) which sets out...more

Mixed-Use Housing Is Exempt

A panel of a Commonwealth Court concluded that a mixed-use housing project owned by municipality was exempt from real estate tax. Reading Housing Authority v. Board of Assessment Appeals of Berks County, No. 1937 C.D. 2013...more

One small step for FHFA, one giant step for affordable housing and community reinvestment across the country

In what may be one of the longest tests of perseverance and intestinal fortitude in the history of legislative advocacy for affordable housing, supporters of the National Housing Trust Fund (NHTF) finally saw their proposal...more

Treasury and HUD Announce Changes to Making Home Affordable Program

On December 4, Treasury and HUD announced changes to Making Home Affordable (MHA) to better assist struggling homeowners. The changes are designed to motivate homeowners in MHA to continue making timely mortgage payments. The...more

Section 202: using federal sources to assist the growing elderly population

During one of the sessions at Ballard Spahr’s Ninth Annual National Housing Symposium, Mara Blitzer from the U.S. Department of Housing and Urban Development (HUD) discussed federal housing resources for aging Americans with...more

House tax extender package bolsters Low-Income Housing Tax Credit and New Markets Tax Credit programs

On Wednesday, December 3, 2014, the House of Representatives passed a one-year tax extender bill that will shore up two key housing and community development programs. The Tax Increase Prevention Act of 2014 (H.R. 5771) (the...more

New York City affordable co-op votes to go private: residents gain windfall but city loses affordable housing units

The shareholders of Southbridge Towers, a 1,651 affordable unit cooperative in Manhattan, recently voted to privatize their development, allowing the residents to sell their apartments at market rate and walk away with a...more

Texas Apartment Association Files Amicus Brief in U.S. Supreme Court Fair Housing Act Case

The U.S. Supreme Court will review a Fair Housing Act case to address whether the Act prohibits facially neutral conduct that has an unintended disparate impact on members of a protected class. In its amicus curiae brief, the...more

Illinois Supreme Court Debates Constitutional Challenge to Rental Housing Support Program

During its September term, the Illinois Supreme Court heard oral arguments in Marks v. Vanderventer, a direct appeal from the Circuit Court after the court’s order finding the fee collection provisions of a “Rental Housing...more

Insights from the executive director of the United States Interagency Council on Homelessness

Our Ninth Annual National Housing Symposium successfully brought together a rich panorama of perspectives across the affordable housing industry. Laura Green Zeilinger, the Executive Director for the United States Interagency...more

Low-income housing tax credit workouts and bankruptcies: Understanding the basics

Note: This post is the first in a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects....more

Ballard Spahr’s National Housing Symposium goes beyond the horizon

Yesterday Ballard Spahr held its 9th annual National Housing Symposium in Washington, D.C.. The theme of the Symposium was “Beyond the Horizon: Housing and Community Development Strategies for the Future”. Government...more

Federal court strikes down HUD’s disparate impact regulations

On Monday, the United States District Court for the District of Columbia issued a scathing opinion that struck down HUD’s disparate impact rule. The disparate impact rule, also referred to as a ”discriminatory effects”...more

Walsh Administration Releases Eagerly-Awaited Housing Plan

The Walsh administration has released its eagerly-awaited housing plan, “Housing a Changing City: Boston 2030,” targeting the creation of 53,000 new housing units by Boston’s 400th year anniversary in the year 2030....more

HUD Proposes Rule To Overhaul Demolition/Disposition of Public Housing

HUD recently issued a proposed rule to revise requirements applicable to demolition and disposition of public housing by public housing authorities (PHAs) and modify the rules for converting public housing to Section 8...more

How Housing Matters

The National Building Museum hosted a conference last Thursday on “How Housing Matters”. The conference explored the links between stable, secure and affordable housing and educational outcomes, children’s health, and older...more

Dr. Seuss Explains "Zoning Reform"

It's not every day that an adult discussion about zoning reform begins with a reference to children's poetry, but so be it. Most [Real Estate Bar Association for Massachusetts] REBA members have at least a passing...more

CFPB Publishes White Paper On Manufactured-Housing

On September 30, the CFPB published a white paper claiming that manufactured-home owners typically pay higher interest rates for their loans than site-built borrowers. The white paper cites data in support showing that a...more

HUD releases list of 2015 QCTs and DDAs

On Friday, October 3, 2014, HUD released a notice announcing new “Qualified Census Tract” (“QCT”) and “Difficult Development Area” (“DDA”) designations for purposes of the low-income housing tax credit under Section 42 of the...more

Four bills broaden the appeal of IFDs as a funding mechanism for local infrastructure, environmental mitigation, private...

Four bills affecting infrastructure financing districts, a funding mechanism for infrastructure and development projects that benefit the broader community, were recently signed by Gov. Jerry Brown. IFDs, created in 1990,...more

Third Time's the Charm? Supreme Court Agrees Again To Hear FHA Disparate Impact Case

Yesterday, the U.S. Supreme Court agreed for the third time in recent history to decide whether disparate impact claims are cognizable under the Fair Housing Act (FHA). The Supreme Court granted the Texas Department of...more

FHFA proposed rule on Enterprise housing goals is open for comments

Issued earlier this month, a proposed rule from the Federal Housing Finance Agency considers updates to the Agency’s Enterprise housing goals. The rule applies to mortgages purchased by Fannie Mae and Freddie Mac for housing...more

CFPB manufactured housing white paper may presage future regulation

The CFPB has issued a white paper on the manufactured housing market, including how manufactured housing is financed and the types of consumers who purchase or rent such housing. In the paper’s introduction, the CFPB explains...more

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