DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1527854
MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 68 October 2024 J O U R N A L "Empowering tenants is one of the important steps we can take to support high-quality HUD-assisted properties." —Julia Gordon, Assistant Secretary, Housing and Federal Housing Commissioner "We are dedicated to helping the families we serve live in homes where they can thrive," HUD Acting Secretary Adrianne Todman said. "Under this administration, we have prioritized op- portunities for tenant organizations to be heard, to be part of the solution-making of preserving affordable housing that we have and increasing housing affordabili- ty for low-income Americans." Tenant capacity building is the pro- cess of developing and strengthening the skills, abilities, processes, and resources that tenants and tenant organizations need to be active partners in the preser- vation and improvement of their housing communities. HUD is committed to bolstering tenant participation among low-income renters as a critical effort to maintain sustainable projects and communities. "Empowering tenants is one of the important steps we can take to support high-quality HUD-assisted properties," Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon said. "This funding will provide vital support to organizations advocating for tenants and working to ensure that households have safe, decent, and afford- able housing." Funds awarded to the tenant advo- cacy organizations are available through HUD's Tenant Education Outreach (TEO) Program and will enable the AIDS Healthcare Foundation—in partnership with the Massachusetts Alliance of HUD Tenants—to strengthen tenant orga- nizing groups. These organizations will make funds available over the next two years to approximately 30 eligible tenant advocacy organizations on a first come, first served basis, to build the capacity of tenants as active partners in the preser- vation of affordable rental housing for low-income residents. The TEO program will help tenants in their efforts to work productive- ly with property management, hold management accountable for property conditions, improve management and oversight of these multifamily properties, and advocate to preserve affordability. Funds from the TEO program can also be used for training, technical assis- tance, staffing, supplies, and other oper- ational costs for tenant organizations to preserve decent, safe, and sanitary hous- ing. The TEO program builds on the successes of previous program models to empower tenants to advocate for their concerns and engage collaboratively with assisted housing providers. FHFA PROPOSES RULE TO IMPROVE LIQUIDITY ACCESS FOR FHLBANKS I n a new release, a notice of pro- posed rulemaking on Federal Home Loan Bank (FHLBank) Unsecured Credit Limits has been issued by the Fed- eral Housing Finance Agency (FHFA). The proposed rule would harmonize the handling of interest-bearing deposit accounts (IBDAs) and other permitted overnight investments with the treat- ment of Federal Funds sales, therefore improving the FHLBanks' capacity to supply liquidity to their members. The FHLBanks would be able to better manage and address their mem- bers' intraday liquidity needs with this updated regulatory approach. Addition- ally, the proposed rule makes it clearer how the FHLBanks would decide how much unsecured credit they can offer counterparties. "The Federal Home Loan Banks have played a key role in helping homeowners and renters obtain affordable, sustain- able housing for over 90 years," FHFA Director Sandra L. Thompson said. "These modernizations will create more flexibility for the FHLBanks in their liquidity management, which will allow