(BUDGET) CBO Finds $4 billion Shortfall in HUD Budget; FHA Head Dismisses Claim:  HUD may be scrambling to find nearly $4 billion in its 2011 budget plan after the Congressional Budget Office (CBO) identified a possible shortfall in a Federal Housing Administration (FHA) mortgage insurance fund. FHA Commissioner David Stevens is d...  Read More  03/12/2010 4:41 PM

(SUSTAINABILITY) Dodd Continues Pushing for Sustainability Initiative:  Declaring his intent to get the Obama administration's sustainability initiative approved in Congress before he retires at the end of the year, Senate Banking Chairman Christopher Dodd (D-CT) joins a HUD road show in his home state to illustrate his ...  Read More  03/12/2010 4:36 PM

(HOUSE) Letters Plead For Housing Money:  Several "Dear Colleague" letters are circulating in the House in an effort to rouse support for more money for housing programs in light of an anticipated financial crunch once the respective congressional budget committees issue their spending level...  Read More  03/12/2010 4:17 PM

(FORECLOSURES) Appraisers Seek Tighter Rules in Upcoming Treasury Foreclosure Prevention Plan:  Appraisers groups and real estate valuation professionals are arguing over whether the Obama administration's latest effort to boost short sales of at-risk mortgages in Home Affordable Foreclosure Alternative (HAFA) has proper safeguards against wast...  Read More  03/12/2010 1:28 PM

(HUD) NSP-1 Grantees Making Final Changes to Plans; HUD May Extend Deadlines:  Some grantees receiving HUD money in the first round of Neighborhood Stabilization Program (NSP) are in the midst making changes to their final plans, and discussion is underway about whether to extend program deadlines. Mercedes Marquez, the assist...  Read More  03/12/2010 11:14 AM

(ASSOCIATIONS) NCRC Urging Congress to Support CRA Reform, Independent Consumer Agency:  Congressional offices are being hit with a lobbying effort by National Community Reinvestment Coalition (NCRC) members urging lawmakers to reform the financial system. John Taylor, NCRC president and chief executive officer, spoke to CDD during his ...  Read More  03/11/2010 11:51 PM

(NEW JERSEY) State Senate Bill Changing Affordable Housing Requirements Under Fire:  A New Jersey state senator is taking fire from critics who say that a new bill changing affordable housing production requirements would lessen the demands on many communities statewide. Sen. Raymond Lesniak (D) says his bill (S 1), is designed to s...  Read More  03/11/2010 4:08 PM

(CONGRESS) Senate Jobs Bill Extends GO Zone Bonds, Tax Credits for Historic Buildings:   The jobs bill clearing the Senate on March 10 contains a host of Gulf Opportunity Zone (GO Zone) tax break extensions that will help employers, historic preservation projects, project investors and private businesses. The American Workers...  Read More  03/11/2010 3:50 PM

(LOCAL) Chicago Demonstration Seen as Model to Support Most Vulnerable Families:  Chicago Housing Authority (CHA) officials were offering their own programs as a possible solution to public housing issues for the nation's most vulnerable families. Now that HOPE VI is likely in its final stages of existence, the Choice Neighborhoo...  Read More  03/11/2010 2:40 PM

(TREASURY) CDFI Fund Launches the Capital Magnet Fund:  Editor's Note: As a service to our readers, Fred Cooper, president of Community Development Concepts Advisory Services Inc., a consultancy serving the community development industry (www.cdcadvisoryservices.com ), offers expert analysis and insightf...  Read More  03/09/2010 3:22 PM