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37 » VISIT US ONLINE @ DSNEWS.COM HUD PROVIDES GUIDANCE FOR USE OF HOUSING TRUST FUND ALLOCATIONS e U.S. Department of Housing and Urban Development (HUD) provided guidance for state and local entities for implementation of the National Housing Trust Fund (HTF) in the form of an interim program rule published in the Federal Register, according to an announcement from HUD. e HTF was established as part of the Hous- ing and Economic Recovery Act (HERA) in 2008 in order to complement efforts from federal, state, and local entities in assisting extremely low- and very low-income households, including homeless families, with finding safe, clean, affordable hous- ing. Funding was suspended for the HTF shortly after it was established due to the government takeover of Fannie Mae and Freddie Mac. In December, Federal Housing Finance Agency (FHFA) Director Mel Watt lifted the suspension of the allocation of GSE funds for the HTF—a controversial move given the fact that the GSEs remain under the conservatorship of the FHFA. While the decision to reinstate fund- ing of the HTF using GSE money was heavily criticized by conservatives—some of whom subsequently introduced legislation to try to prevent it—it was widely heralded by progressives as a path for low-income families to achieve the dream of homeownership. "Affordable housing is about opportunity. Today's action is the latest step toward important progress for the American people," HUD Secre- tary Julián Castro said on the day the suspension of funding was lifted. "Once fully implemented, the Housing Trust Fund will help folks across the nation secure a decent place to call home. We look forward to working closely with our part- ners across the nation to implement this critical resource to expand the circle of opportunity for current and future generations of Americans." According to HUD's announcement, eligible grantees for HTF include states and state- designated entities. Eighty percent of the annual formula grants must be used for rental housing, 10 percent must go to homeownership, and 10 percent must go to cover reasonable administra- tive and planning costs assumed by the grantee. States will submit their HTF Allocation Plans, developed with input from constituents, and 2016 Annual Action Plans to HUD sometime this year. e target date for the grantees to receive their HTF allocations is the summer of 2016. Some of the eligible activities and expenses for the use of HTF funds may include: Real prop- erty acquisition, site improvements/development hard costs, related soft costs, demolition, financ- ing costs, relocation assistance, and operating cost assistance for rental housing. www.results-software.com powered by: VALUE ADDED SERVICES Property Maintenance Cleaning Services Landscaping Pools: Service/Repair/Maintenance Rehabs Tree Removal Remodels Plumbing Services Electrical Garage Doors Repair Services Eviction / Re-Key Services Foundations Interior & Exterior Painting Flooring Sales & Installation Roofing A/C & Heat Pest Control Appliances Service areas inclusive of, but not limited to: TX, OK, TN, GA, MS, LA, AR, AL, MO, KS Truly Noble Services, Inc. | www.trulynobleservices.com | (855) 898-2455 We've honed our skills for over 25 + years as a leading services provider in property preservation, rehabs, and repairs. Our commitment to bringing quality and consistency of services to the forefront shows in our dedication to training and constant technology updates to ensure our customers that we will be there for future support in services. All this commitment has laid the foundation for our long term success. From real estate agents to corporate clients who need anything from property maintenance to remodeling, we will show you why Truly Noble Services has earned the reputation as the service provider of choice. Where Servicing and Property Services Meet PROUD TO BE A VETERAN OWNED AND OPERATED BUSINESS The monthly prepayment rate, or the Single Month Mortality Rate, was 1.15 percent in December 2014, an increase of 25 percent from November – the largest month-over- month increase since February 2009, according to Black Knight Financial Services. KNOW THIS

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