GSE Reform
A Senate bill to reform Fannie Mae and Freddie Mac, the result of discussions between Tennessee Republican Bob Corker and Virginia Democrat Mark Warner, would devote billions of dollars to boosting home ownership among lower-income borrowers. The draft gives the clearest view yet into how the senators aim to woo progressive politicians to back their plan. Support from those Democrats is likely needed to meet the 60-vote threshold for passing major bills in the Senate.
In this op-ed interview, MBA CEO David Stevens discusses his views on key provisions of the draft legislation and the importance of moving a bill forward.
Rental Housing
Investors and developers in the Low-Income Housing Tax Credit (LIHTC) market are adapting to a dramatic drop in pricing over the past year and expecting more uncertainty ahead. The main concern is that demand for tax credits could diminish once institutional investors calculate the full impact from the Tax Cuts and Jobs Act. However, investors have not yet hit the pause button. They still have ample capital available and a desire to buy tax credits.
It is now considered likely that the Administration’s HUD budget proposal will authorize PHA’s to impose work requirements on abled-bodied recipients in federal rental assistance programs. This Urban Institute blog post exams what is known as well as what is not known about the impact of work requirements in low-income housing programs.
Homeownership
This Urban Institute blog post provides a brief overview of the manufactured housing industry’s impact on the affordable housing market over the past 40 years, and looks at the potential for manufactured housing to again play an important role in meeting affordable housing needs.
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