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The MReport Webcast: Friday 7/24/2015

Under the department's 2015 Fair Housing Initiatives Program Notice of Funding Availability, HUD outlined in a grant notice on Thursday that it is making 39.2 million dollars available to fight housing discrimination. HUD makes funding available each year to support organizations interested in the enforcement of fair housing laws and policies as well as educating the public, housing providers, and local governments about their rights and responsibilities under the Fair Housing Act.

 

This year’s funding notice will also create six new types of grants that support fair housing capacity building, education, and outreach activities, as well as testing in rental and sales transactions. The categories of grants being made available today are: 29 million $275,000 toward the Private Enforcement Initiative grants, $3.5 million toward the Education and Outreach Initiative grants, and $6.425 million toward the Fair Housing Organizations Initiative.

 

New low down payment initiatives extend homeownership opportunities to qualified borrowers who might otherwise be locked out. According to Freddie Mac's July U.S. Housing Market Insight & Outlook, pre-crisis low payment underwriting allowed layered risk, while post-crisis low payment underwriting controls credit risk by requiring features that reduce risk. Pre-crisis payments were variable, while post-crisis payments are predictable.

About Author: Jordan Funderburk

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