Marcia Fudge, secretary of the Department of Housing and Urban Development, this week announced her retirement, effective March 22. HUD Deputy Secretary Adrianne Todman will step in as acting secretary.
President Biden last weekend signed a six-bill fiscal 2024 appropriations package that includes funding for the departments of Housing and Urban Development, Veterans Affairs and Agriculture.
President Biden’s fiscal year 2025 budget request includes a proposal for mortgage tax credits for first-time homebuyers as well as those who sell starter homes.
VA extends rescission date for circular on expanding home loan eligibility based on certain National Guard service; FHA issues mortgagee letter for Section 232 residential care facility mortgage insurance program; HUD allocates $70 million to 38 tribal communities; USDA updates guidelines on obtaining a payoff for a guaranteed loan mortgage recovery advance; HUD’s Office of Housing Counseling announces $10 million grant.
Housing Secretary Fudge resigns; IRS postpones controversial changes to IVES; regulators to alter Basel capital proposal; banking regulators waive appraisal requirements in Maui; feedback sought on bank call-report proposal.
The six-bill appropriations package, which includes FY2024 funding for the departments of Housing and Urban Development and Veterans Affairs, now heads to the Senate.
The Mortgage Bankers Association has opposed the extension of the risk-sharing program, which provides capital to housing finance agencies that offer FHA loans for affordable multifamily rental properties.