News & Analysis as of

Housing Market

Alabama and Mississippi Insurance Law Questions Following Hurricane Nate

Hurricane Nate made landfall on the Mississippi Gulf Coast near the city of Biloxi on Sunday, October 8, 2017, as a Category 1 Hurricane. The eastern quadrant of the storm’s center also passed over significant portions of...more

The Governor’s Housing Package - Affordable Housing Production in California Gets a Boost from Sacramento

by Best Best & Krieger LLP on

A package of 15 new housing bills will have far-reaching implications for every city in California. Collectively, these new laws are meant to significantly boost affordable housing production by removing local land use...more

Governor Brown Signs Major Housing Package Into Law

by Coblentz Patch Duffy & Bass on

On September 29, 2017, Governor Brown signed into law a 15-bill housing package. The housing package did not include AB 915, which would have authorized the City and County of San Francisco to impose local inclusionary...more

Governor Signs Housing Legislation, Including Streamlining Bill

by Perkins Coie on

Governor Brown has signed 15 bills designed to address the State’s severe shortage of affordable housing. Among its other effects, the legislation will (1) generate funds for affordable housing developments; (2) require...more

Expanded ARO pilot program poised for Chicago City Council approval

by Thompson Coburn LLP on

Earlier this week, after a four-hour hearing, the Chicago City Council’s Committee on Housing and Real Estate recommended approval of a three-year pilot initiative to expand and modify the City of Chicago’s Affordable...more

California Governor Signs into Law Major Reforms to Housing Accountability Act - New Law Increases Developers' Ability to Secure...

by Holland & Knight LLP on

• California Gov. Jerry Brown has signed into law two bills that significantly reform California's Housing Accountability Act (HAA). • Effective Jan. 1, 2018, these laws will significantly increase the ability of housing...more

Legislature Seeks To Prevent Local Voters From Enacting Many Types of Pro-Development Initiatives

by Perkins Coie on

The California Legislature just sent another “stop me before I vote again” bill to the Governor. Assembly Bill 890 proposes to limit severely the scope of voter-sponsored, pro-development land use initiatives. The Governor...more

Opportunities in Affordable Seniors Housing

Daryl Carter recently published an interesting article in Seniors Housing Business regarding what he sees as opportunities for addressing “the overwhelming need for affordable seniors housing in today’s market."...more

Issues, challenges and opportunities in the real estate and housing sector in Côte d’Ivoire

by Dentons on

For many years, population growth, combined with sustained urbanisation, has created enormous needs in all sectors, including the housing sector, in Côte d'Ivoire....more

New RAD Notice of Increase in Cap and Rent Setting

by Ballard Spahr LLP on

Our friends at NAHRO have alerted us that a new RAD notice will be issued tomorrow, August 23, 2017. The notice requires PHAs who already submitted a RAD letter of interest to preserve their spot on the wait list to submit a...more

HUD issues report on worst case housing needs

by Ballard Spahr LLP on

On August 9, HUD issued to Congress its 16th report on worst case housing needs in the United States, based on 2015 data. Households with “worst case needs” are those that are very low income, do not receive government...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Uber investor Benchmark (a Silicon Valley VC fund) is looking to recover for the lost-investment costs associated with the rocky 2017 at the ride-hailing company, and it has former CEO Travis Kalanick in its crosshairs....more

Senate Committee on Appropriations Passes FY2018 THUD – A Step in the Right Direction for RAD and HUD Programs

by Ballard Spahr LLP on

The Senate Committee on Appropriations unanimously voted on July 27, 2017 to approve its FY2018 Transportation, Housing and Urban Development (THUD) bill. The bill eliminates the cap in the Rental Assistance Demonstration...more

Report: African-American home ownership lagging behind white counterparts

by GableGotwals on

Lauren and Brandon Oldham didn’t want to leap blindly into homeownership. So they took a series of baby steps over several years, contemplating how best to prepare themselves for the biggest financial commitment of their...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A government audit report out yesterday accuses the US Dep’t of Housing and Urban Development of selling more than 100k distressed mortgages over a 7 year period to PE firms and hedge funds without following the proper rules...more

CFPB provides additional HMDA reporting guidance

by Ballard Spahr LLP on

The CFPB issued HMDA Loan Scenarios on July 19, 2017 to provide additional guidance to the industry on reporting transactions under the revised HMDA rule, which has a January 1, 2018 effective date for most provisions....more

Federal Housing Finance Agency Proposes GSE Goals

by Ballard Spahr LLP on

The Federal Housing Finance Agency (“FHFA”) has proposed new single-family and multifamily housing goals for Fannie Mae and Freddie Mac (collectively, the “GSEs”) for 2018-2020....more

Audits of Multifamily Housing Bonds Triggered by Failure to File Form 8703

IRC Section 142(d) requires operators of qualified residential rental properties to file Form 8703, Annual Certification of a Residential Rental Project annually. A number of recent audits of multifamily housing bonds appear...more

HUD Publishes Housing Trust FY 2017 Allocations

by Ballard Spahr LLP on

The U.S. Department of Housing and Urban Development (“HUD”) released the Fiscal Year 2017 Housing Trust Fund (HTF) allocation amounts on June 20, 2017, setting forth the amounts awarded to each state or territory under the...more

Treasury report on U.S. financial system recommends extensive mortgage lending reforms

by Ballard Spahr LLP on

The U.S. Treasury Department recently issued a report titled “A Financial System That Creates Economic Opportunities-Banks and Credit Unions.”  In addition to recommended changes for the CFPB, the report devotes substantial...more

HUD Announces National Origin And Familial Status Fair Housing Case Settles For $20,000

by Fox Rothschild LLP on

The U.S. Department of Housing and Urban Development (HUD) recently announced that it settled another fair housing case, this one for $20,000, to resolve allegations of discrimination based on national origin and familial...more

Hot Off The Press! DFEH’s Annual Report

by Seyfarth Shaw LLP on

Seyfarth Synopsis: California’s Department of Fair Employment and Housing has just issued its Annual Report on civil rights complaints during 2016. Here are some highlights....more

TODAY– June 1st – Revised RAD Forms Must Be Used

by Ballard Spahr LLP on

Earlier in May, HUD received approval from the Office of Management and Budget of the final, revised form RAD documents. HUD had previously solicited two rounds of public comment as part of the Paperwork Reduction Act...more

Deadline Extended for D.C. Comprehensive Plan Amendment Proposals

by Ballard Spahr LLP on

The District of Columbia Office of Planning (OP) has extended the deadline for individuals and groups to submit proposed amendments to D.C.'s Comprehensive Plan, which guides future growth and development in the District. OP...more

Ting Density Bonus Legislation Now Limited to San Francisco

As reported in our prior blog post, Assemblymember Phil Ting (D – San Francisco) introduced amendments to the State Density Bonus law (AB 915) that would specifically require all local jurisdictions to impose their local...more

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