U.S. Department of Housing and Urban Development, Office of Inspector General

Greystone Ranks as #1 Overall Commercial Lender for HUD’s 2023 Fiscal Year

Retrieved on: 
Wednesday, October 11, 2023
Housing, Health, United States Secretary of Housing and Urban Development, Environment, HUD, U.S. Department of Housing and Urban Development, Office of Inspector General, Commercial property

NEW YORK, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance firm, announced it ranks #1 based on dollar volume of multifamily and healthcare Firm Commitments issued by the U.S. Department of Housing and Urban Development (HUD) for the agency’s 2023 fiscal year ending September 30, 2023*.

Key Points: 
  • NEW YORK, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance firm, announced it ranks #1 based on dollar volume of multifamily and healthcare Firm Commitments issued by the U.S. Department of Housing and Urban Development (HUD) for the agency’s 2023 fiscal year ending September 30, 2023*.
  • During this period, Greystone originated and obtained Firm Commitments for 87 multifamily and healthcare facility HUD-insured loans totaling $1.9 billion, representing 14.5% of firm commitments issued by HUD.
  • Greystone received firm commitments for 49 multifamily properties totaling $1.3 billion and 38 healthcare properties totaling $673 million during HUD’s most recent fiscal year.
  • HUD has been and remains an excellent long-term debt option, and we are thrilled to be at the top of the industry once again.”

Novogradac Promotes Nine Managers to Principal Across Country

Retrieved on: 
Wednesday, September 6, 2023
Tax credit, Xavier University, Ohio State University, University of California, Davis, Housing, University, U.S. Department of Housing and Urban Development, Office of Inspector General, Oregon State University, Accounting, Office of Inspector General, U.S. Department of Health and Human Services, HUD, HTC, Sale, Brigham Young University, Certification, OZ, Walsh University, Publication, Juergen M. Geissinger, Investment, Community service, HTC Global Services, Growth, LIHTC, Carothers, University of Akron, Economics, Oregon Housing and Community Services Department, Property management, NMTC, St. Louis

SAN FRANCISCO, Sept. 6, 2023 /PRNewswire-PRWeb/ -- National accounting and consulting enterprise Novogradac elevated nine managers to principal Sept. 1–Nathan Berrett of the Walnut Creek, California, office; Christoper Carothers and Michael Wong of the San Francisco office; Morgan Debusk of the Portland, Oregon, office; Cody Geissinger and Douglas Sellers of the Dover, Ohio, office; Nick Gettings of the St. Louis office; and Logan O'Sicky and Marcos Velazquez of the Cleveland office.

Key Points: 
  • "My partners and I are proud to promote this group of dedicated managers," said Michael J. Novogradac, managing partner of Novogradac.
  • Carothers provides audit and consulting services to clients that include real estate developers, real estate investment companies, stakeholders in renewable energy and nonprofit organizations.
  • He also specializes in financial reporting for consolidations, business combinations, sale-leaseback transactions and investment company fair value reporting.
  • Before joining Novogradac, he worked at a major accounting firm as a senior audit manager specializing in private equity and venture capital financial reporting.

Forbright Bank Finances $6.4 Million Affordable Housing Project in Massachusetts

Retrieved on: 
Thursday, August 24, 2023
Residential Building & Real Estate, Banking, Social Services, Construction & Property, Professional Services, White House, Federal Government, State, Local, Public Policy, Government, Environment, Finance, Sustainability, United States Department of Housing and Urban Development, Partnership, Housing, U.S. Department of Housing and Urban Development, Office of Inspector General, United States Secretary of Housing and Urban Development, FDIC, HUD, Equal housing lender, MIP, Mortgage assumption, HAP, Commercial property, Real estate

Forbright Bank, a nationwide full-service bank helping accelerate the transition to a sustainable economy, utilized its newly established Housing and Urban Development (HUD) Lending platform to provide a $6.4 million loan to Willow Apartments in Lynn, Massachusetts.

Key Points: 
  • Forbright Bank, a nationwide full-service bank helping accelerate the transition to a sustainable economy, utilized its newly established Housing and Urban Development (HUD) Lending platform to provide a $6.4 million loan to Willow Apartments in Lynn, Massachusetts.
  • It’s owned and managed by an affordable housing developer with decades of experience developing, owning, and managing projects in the New England region.
  • The project has 44 units, 43 of which are covered by a Project Based Section 8 Housing Assistance Payments Contract (HAP Contract).
  • Forbright Bank ( www.forbrightbank.com ), Member FDIC, Equal Housing Lender, is a full-service bank taking action to decarbonize the economy.

Call For Nominations: HUD Secretary's Award for Excellence in Healthy Homes

Retrieved on: 
Friday, July 14, 2023
Organization, Kenosha County Healthy Homes Initiative, Tribe, Housing, Research, United States Department of Housing and Urban Development, U.S. Department of Housing and Urban Development, Office of Inspector General, HUD, Culture

WASHINGTON, July 14, 2023 /PRNewswire/ -- The U.S. Department of Housing and Urban Development (HUD) Secretary's Award for Excellence in Healthy Homes nominations are open.

Key Points: 
  • WASHINGTON, July 14, 2023 /PRNewswire/ -- The U.S. Department of Housing and Urban Development (HUD) Secretary's Award for Excellence in Healthy Homes nominations are open.
  • In 2023, the HUD Secretary's Award for Excellence in Healthy Homes will be awarded to a single organization or group that best exemplifies the holistic approach required to create a healthy homes culture.
  • "The Secretary's Award for Excellence in Healthy Homes recognizes agencies, organizations, and Tribes that advance healthy homes while advancing affordable housing, strengthening environmental justice, and addressing climate resilience.
  • Through HUD's Office of Lead Hazard Control and Healthy Homes, the HUD Secretary's Award for Excellence in Healthy Homes acknowledges innovative approaches, best practices, policies, research, and community engagement that make significant contributions to reduce exposure to health risks, environmental hazards, and substandard housing, especially for underserved communities."

HUD Grants Nearly $9-Million to Jericho Project to House Unsheltered New Yorkers

Retrieved on: 
Thursday, May 25, 2023
Social services, New York City Department of Homeless Services, Housing, TFA, U.S. Department of Housing and Urban Development, Office of Inspector General, Homelessness, COC, Senior counsel, United States Secretary of Housing and Urban Development, HUD, Missouri Department of Social Services, New Yorker, Case management, City, Continuum, Property management

NEW YORK, May 25, 2023 /PRNewswire-PRWeb/ -- Jericho Project was awarded $8,906,646 by the U.S. Department of Housing and Urban Development (HUD) as part of a nationwide effort to address street homelessness among unsheltered people in cities and rural communities. Jericho is a nationally-acclaimed nonprofit that for 40 years has combatted the root causes of homelessness and improved the lives of thousands of New Yorkers annually with supportive housing and the vital services to sustain it.

Key Points: 
  • Jericho will serve 90 unsheltered homeless participants per year over a three-year grant period.
  • This is part of the total $60-million that HUD distributed in funding to the New York City Continuum of Care (CoC) for the Unsheltered Homeless Initiative.
  • "As a longstanding advocate for permanent supportive housing, Jericho is thrilled to be able to move unsheltered New Yorkers into stable housing and provide ongoing counseling to support them.
  • We applaud HUD and our local Continuum of Care for their leadership in helping some of our most vulnerable neighbors in their time of need," said Tori Lyon, CEO of Jericho Project.

BayPort Donates $10,000 to Support Monthly Grocery Services to Local Homebound Veterans

Retrieved on: 
Wednesday, May 24, 2023
Partnership, U.S. Department of Housing and Urban Development, Office of Inspector General, HUD-VASH, Veteran, Milk, Organization, Housing, Hampton, Food bank, Meat, NEWS

The HUD-VASH Program, run locally by the Hampton VA Medical Center, will deliver monthly food boxes to nearly 500 local homebound veteran households this year alone.

Key Points: 
  • The HUD-VASH Program, run locally by the Hampton VA Medical Center, will deliver monthly food boxes to nearly 500 local homebound veteran households this year alone.
  • Previously, the Virginia Peninsula Foodbank's monthly food boxes included dry and canned goods, and limited protein and produce options.
  • However, BayPort's $10,000 donation will help enhance the monthly food boxes to also include meat, milk, dairy, and produce products.
  • "The Virginia Peninsula Foodbank places a priority on ensuring our service members and veterans are supported.

Housing Choice Voucher holders are losing ground to rising rents

Retrieved on: 
Tuesday, April 18, 2023
Housing, U.S. Department of Housing and Urban Development, Office of Inspector General, Education, Homelessness, Policy, United States Secretary of Housing and Urban Development, Research, Tenant, HUD, Section 8, Congress, Lake Hill Administrative Site Affordable Housing Act, Zillow, Public housing, Lease, Property management

The Housing Choice Voucher Program is a critical rental assistance program provided by the U.S. Department of Housing and Urban Development (HUD), and is sometimes referred to as Section 8.

Key Points: 
  • The Housing Choice Voucher Program is a critical rental assistance program provided by the U.S. Department of Housing and Urban Development (HUD), and is sometimes referred to as Section 8.
  • Eligibility for a housing voucher is based on income and family size.
  • With voucher values eroding, voucher holders will have fewer options for places to rent and will likely be forced farther away from neighborhoods with amenities and job centers.
  • Strengthening the Housing Choice Voucher program, encouraging greater landlord participation in the program by enacting the Choice in Affordable Housing Act , and increasing the supply of affordable rental homes by passing the Affordable Housing Credit Improvement Act should all be on Congress's must-do list."

Announcing the HUD-Held Vacant Loan Sale 2023-1 ("HVLS 2023-1")

Retrieved on: 
Friday, April 14, 2023
HECM, Organization, HVLS, Housing, U.S. Department of Housing and Urban Development, Office of Inspector General, United States Department of Housing and Urban Development, HUD, Sale, Credit

WASHINGTON, April 14, 2023 /PRNewswire/ -- The U.S. Department of Housing and Urban Development ("HUD") has announced HUD- Held Vacant Loan Sale ("HVLS 2023-1"):

Key Points: 
  • WASHINGTON, April 14, 2023 /PRNewswire/ -- The U.S. Department of Housing and Urban Development ("HUD") has announced HUD- Held Vacant Loan Sale ("HVLS 2023-1"):
    On May 23, 2023, HUD will offer multiple residential mortgage loans consisting of approximately 1,237 notes and loan balance of approximately $319 million.
  • The sale will consist of due and payable HUD-Held loans.
  • The loans are first liens secured by home equity conversion mortgages (HECM's) securing 1- to 4-unit, vacant residential properties where all borrowers and any non-borrowing spouses are deceased.
  • Entities interested in participating can contact the Office of Asset Sales' Single Family Transaction Specialist at 1-844-709-0763 or email [email protected] for more information.

Atlanta-Area Renter Achieves Homeownership with the Help of Center Creek Capital Group’s Innovative Affordable Housing Program

Retrieved on: 
Wednesday, January 25, 2023
Residential Building & Real Estate, Construction & Property, Professional Services, Finance, U.S. Department of Housing and Urban Development, Office of Inspector General, Southeastern United States, Entrepreneurship, McGarity, Sale, Internet, Rehabilitation, Housing, Insurance, Property management, P2H

Center Creek Capital Group (“Center Creek”), a mission-oriented investment and development firm specializing in affordable single-family housing, announced today the sale of one of its single-family rental homes to an existing resident – marking the first successful renter-to-homeowner transition in its Pathway to Homeownership (“P2H”) program.

Key Points: 
  • Center Creek Capital Group (“Center Creek”), a mission-oriented investment and development firm specializing in affordable single-family housing, announced today the sale of one of its single-family rental homes to an existing resident – marking the first successful renter-to-homeowner transition in its Pathway to Homeownership (“P2H”) program.
  • To date, Center Creek has invested over $75 million into underserved markets, including $12.5 million in the rehabilitation and upgrade of distressed single-family properties.
  • “At Center Creek, our Affordable Housing Impact Investment strategy is focused on providing low- and moderate-income Americans with a range of affordable living options, through rentals or homeownership,” said Dan Magder, CEO of Center Creek.
  • Through its P2H program, Center Creek offers a suite of financial resources and support to renters, facilitating their path to homeownership.

Texas PACE Authority Wins Approval to Provide Financing for HUD and FHA Multi-Family Projects in Texas

Retrieved on: 
Tuesday, January 24, 2023
Housing, Farmers Branch, Texas, Inflation Reduction Act of 2022, National Low Income Housing Coalition, HUD, Tom Heydinger, Water, Federal Housing Administration, City, Farmer, Mitchell–Lama Housing Program, United States Department of Housing and Urban Development, PACE, FHA, U.S. Department of Housing and Urban Development, Office of Inspector General, Inflation, Renewable energy, Growth

"This authorization is a huge win for low-income populations in Texas that are desperate for affordable and sustainable housing in rural and urban areas alike," said Charlene Heydinger, president of the Texas PACE Authority.

Key Points: 
  • "This authorization is a huge win for low-income populations in Texas that are desperate for affordable and sustainable housing in rural and urban areas alike," said Charlene Heydinger, president of the Texas PACE Authority.
  • HUD's approval was issued on Dec. 23 after carefully reviewing the Texas PACE Authority's eligibility criteria, standardized contracts, and underwriting standards.
  • Since 2013, the Texas PACE Authority helped mobilize more than $362 million of PACE financing for energy and water efficiency projects across Texas.
  • "All of these cities have established PACE programs administered by Texas PACE Authority that can now use PACE to facilitate increased HUD and FHA multifamily investments to address their housing shortages," Heydinger said.