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Obama Administration Settlement with Bank of America Will Strengthen FHA Fund, Provide Billions in Consumer Relief
U.S. Department of Housing and Urban Development
September 2, 2014

The Obama Administration today announced an almost $17 billion global settlement with Bank of America. $1 billion of the total settlement amount resolves claims arising from allegations of fraud involving certain Federal Housing Administration (FHA)-insured single-family mortgage loans and a failure to perform under its servicing contract with the Government National Mortgage Association (Ginnie Mae). Under the terms of the settlement, Bank of America will pay $800 million to resolve the claims relating to FHA and $200 million to Ginnie Mae. The remaining nearly $16 billion of the total settlement amount resolves fraud claims involving the pooling of residential mortgage backed securities, collateralized debt obligations, and other claims by the United States, along with the States of California, Delaware, Illinois, Maryland, New York, and the Commonwealth of Kentucky, and includes $7 billion in consumer relief with a focus on borrowers that were in the hardest-hit areas during the housing crisis.  More...



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Working Paper:  “Achieving Lasting Affordability through Inclusionary Housing”
Lincoln Institute of Land Policy
August 27, 2014

Inclusionary housing programs serve to provide long-term affordable housing through local land use policies that affect the creation of homes for low- and moderate- income households.  Twenty inclusionary housing programs were reviewed in areas such as affordability periods, legal components, and resale formulas.  Each of programs was assessed for the longevity of their affordability and the cumulative data also serves as a national inclusionary housing program directory.   More… 


Kings Beach Housing Now
Kings Beach Housing Now
Photo: Tom Zikas Photogrpahy

Kings Beach, California: Affordable Green Housing for Service Industry Workers
U.S. Department of Housing and Urban Development/Case Studies
August 20, 2014

Kings Beach Housing Now provides 77 energy-efficient apartments for low-income recreation and hospitality industry workers in a popular vacation area. The development, consisting of nine buildings on five sites totaling 3.5 acres, replaces dilapidated housing while adhering to stringent requirements for water quality, scenic views, and tree cover in the Lake Tahoe region. The balancing of objectives earned Kings Beach Housing Now a 2011 Best in the Basin Award from the Tahoe Regional Planning Agency (TRPA). Because of its reliance on community input to provide that balance, the development also won the 2014 American Institute of Architects/HUD Secretary’s Award for Community-Informed Design.  More... 


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Housing Scorecard Published for July 2014
U.S. Housing and Urban Development Press Release
August 19, 2014

The Obama Administration’s U.S. housing market findings for July 2014 were released by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury.  Findings include:  existing home purchases rose 2.6 percent since May, foreclosures decreased 4 percent, home values appreciated by 0.4 percent, new home sales fell 8.1 percent.   Along with national housing data, the July scorecard includes a highlight on Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metropolitan Statistical Area (Philadelphia MSA).   More…


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