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News Clips

Washington Examiner, Thursday, February 15, 2018
(RECAP: Freddie Mac joined Fannie Mae Thursday morning in announcing that it would need funds from the Treasury thanks to accounting losses prompted by the new tax law. The bailed-out government-sponsored enterprise told investors that it lost $3.3 billion in the fourth quarter of 2017, driven by $5.4 billion in accounting losses due to the tax changes signed by President Trump in December. Because the losses exceeded the company's net worth, it needs $312 million from the Treasury.)
Richmond Times-Dispatch, Wednesday, February 14, 2018
(RECAP: Project:HOMES, funded by public and private grants and donations, has been helping homeowners improve homes since 1992 through its home rehabilitation, weatherization and wheelchair ramp installation programs. The organization’s neighborhood revitalization program takes home rehab a step further — focusing on improving neighborhoods through preserving and building affordable homes.)
Gloucester-Mathews Gazette-Journal, Wednesday, February 14, 2018
(RECAP: The Affordable Housing Summit held at Gloucester’s Daffodil Gardens on Feb. 1 revealed troubling trends as it relates to the Middle Peninsula and Northern Neck. Though we are a decade removed from the market crash of 2008, a lack of economic opportunities still affects this region. The summit was co-sponsored by Bay Transit and Housing Virginia and sought to identify trends and generate dialogue related to access to affordable housing in Gloucester, Mathews and the Northern Neck.)
West Virginia Public Broadcasting, Tuesday, February 13, 2018
(RECAP: The White House's Fiscal Year 2019 budget proposal, released Monday, calls for work requirements for those who receive public housing subsidies and slashes funding for HUD by $8.8 billion. The budget outline also zeroes out the Public Housing Capital Fund, dedicated to rehabilitating and modernizing public housing developments, and eliminates the Community Development Block Grant which local governments can use at their discretion to address a variety of community and infrastructure needs.)
Sys-Con Media, Tuesday, February 13, 2018
(RECAP: Blend, a Silicon Valley technology company propelling the consumer lending industry into the digital age, today announced it is the first end-to-end platform to be approved to provide asset verification reports for the Desktop Underwriter ® (DU®) validation service, a component of Day 1 Certainty by Fannie Mae.)
Governor Ralph Northam's Office, Monday, February 12, 2018
(RECAP: During an annual legislative reception hosted last week, First Lady Pam Northam highlighted the findings of two just-completed studies that show the sustained and substantial contribution preservation makes to Virginia’s economy through the incentives of state historic rehabilitation tax credits (RTCs) to repurpose and recycle old buildings.)
Yahoo News, Monday, February 12, 2018
(RECAP: In its 2019 spending plan released Monday, the administration asked Congress to raise the fees Fannie and Freddie charge to back payments on mortgage-backed securities by 0.1 percentage point, a move it said would reduce the federal budget deficit by $25.7 billion over the next decade.)
HUD.GOV, Monday, February 12, 2018
(RECAP: The Trump Administration today announced the proposed Fiscal Year 2019 Budget for HUD, a $41.24 billion spending plan that continues or expands support for vulnerable populations including those experiencing homelessness, the elderly and persons living with disabilities. The President's 2019 Budget represents a commitment to fiscal restraint, with a modest one percent increase in discretionary funding over last year's request.)
The Gazette-Virginian, Friday, February 09, 2018
(RECAP: A passion to help others not as fortunate as himself has been a driving force in Earl Howerton’s life as has been his effort toward providing affordable housing as the executive director of the Southside Outreach Group.)
MULTI-HOUSING NEWS, Thursday, February 08, 2018
(RECAP: Weston Associates has acquired Ivy Tower, a 140-unit affordable housing community in Newport News, Va. It was helped by the use of tax exempt debt from the Newport News Redevelopment and Housing Authority and 4 percent Low Income Housing Tax Credits from VHDA along with a renewal of the HUD project based Section 8 contract.)
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