Housing News

From Fannie Mae Press Release: Fannie Mae Reaches Comprehensive Resolution with Bank of America, Yielding Positive Outcome for Taxpayers

From the Federal Reserve Bank of Boston: Independent Foreclosure Review to Provide $3.3 Billion in Payments, $5.2 Billion in Mortgage Assistance WASHINGTON--Ten mortgage servicing companies subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing have reached an agreement in principle with the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board to pay more than $8.5 billion in cash payments and other assistance to help borrowers.

Statement by HUD Secretary Shaun Donovan on the Senate’s Confirmation of FHA Commissioner Carol Galante “Today, the United States Senate took the important step of confirming Carol Galante to become the next Assistant Secretary for Housing and Commissioner of the Federal Housing Administration (FHA). I am pleased that a bipartisan majority in the Senate agreed that Carol offers responsible leadership at a time when we are pursuing necessary reforms to stabilize FHA’s financial outlook.

Please go here to view the DHCD Winter Newsletter which includes Governor Patrick's annoucment on the new housing initiative, a message from Undersecretary Gornstein, Lt. Gov. Murray's accouncement of the goal of 1,000 new units of Supportive Housing by 2015 and announcements from around the Commonwealth. 

December 19, 2012                                                                    CONTACT     Lauren Jones (LG’s Office) 617-725-4000   Matt Sheaff (DHCD) 617-573-1102   Lieutenant Governor Murray Announces Goal of 1,000 New Units of Supportive Housing by 2015 Lieutenant Governor Murray also announces grants for 138 vouchers to support programming for homeless and very low-income households

HUD issued revised FY2013 income limits effective December 11, 2012, superceding the limits posted on December 4.  The FY2013 30%, 50%, 60% and 80% income limits are 1-5% below the FY2012 limits in most areas because HUD is projecting declines in median family incomes.

9:00 - 11:00 a.m. Plenary Sessions: Perspectives from the Regional U.S. Administrators MAPS:

Pursuant to Section 9C of Chapter 29 of the Massachusetts General Laws, Governor Patrick, yesterday, made cuts to the FY2013 state budget to compensate for a $540 million shortfall due to slower-than-expected tax collections. The Governor's letter explaining the cuts and their impacts can be read here.

December 4, 2012 - The New York Times has published an editorial outlining the need for more affordable housing across the United States and advocating for increases in Federal programs which provide housing for low- and extremely-low-income households. The editorial states that HUD would need $26 billion in funding to repair its public housing stock and that with decreasing federal support, housing authorities across the country have closed more than 150,000 public housing units.

From the December 4th Press Release: The EOHED will present the context for the FY14 state budget and gather valuable comments from stakeholders and members of the public regarding their priorities for funding.  The forums will begin with a short overview presentation, followed by an opportunity for audience members to provide testimony.