Proposed HUD Budget for FY2017 is Presented – NMP Skip to main content

Proposed HUD Budget for FY2017 is Presented

Phil Hall
Feb 09, 2016
President Obama’s has put forth a proposed budget to finance the U.S. Department of Housing & Urban Development (HUD) for Fiscal Year 2017

President Obama’s has put forth a proposed budget to finance the U.S. Department of Housing & Urban Development (HUD) for Fiscal Year 2017 that includes $48.9 billion in gross discretionary funding and $11.3 billion in new mandatory spending over the next 10 years.

Among the priorities outlined by HUD in the presentation of the budget were $20.9 billion for the Housing Choice Voucher program, $10.8 billion for the Project-Based Rental Assistance program, $6.45 billion in operating and capital subsidies public housing preservation efforts, $11 billion in mandatory spending and $112 million in discretionary spending for the Opening Doors Initiative to combat homelessness, and $700 million for Native American Housing Block Grants plus an additional $25 million to improve the socioeconomic status of Native American youth and address unemployment on tribal lands.

The proposed budget also requests $160 million in support of the Mutual Mortgage Insurance Fund and $500 billion in limitation on new commitments of single class mortgage-backed securities (MBS) from Ginnie Mae, as well as $23 million to cover “personnel compensation and benefits and non-personnel services expenses” related to the Ginnie Mae program.

For its part, the White House stressed a $10 million project in the proposed budget to create “an advisory group of researchers, builders, tenants, and homeowners to design and implement studies on how to facilitate long-term behavior change in the housing sector, and the evaluation of a clean energy pilot intended to incentivize multifamily property owners and tenants to reduce energy consumption.”

Published
Feb 09, 2016
CFPB Alters Threshold For Exempting Loans From Special Appraisal Requirements

The 2022 threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will increase from $27,200 to $28,500. 

Regulation and Compliance
Dec 02, 2021
Regulatory Review, Reformatted

The progress made to date with NMLS modernization

Regulation and Compliance
Dec 01, 2021
November Surprise: Fed May Accelerate Tapering

Chairman Powell tells Congress of concerns about inflation, COVID-19 variant’s effect on recovery.

Regulation and Compliance
Dec 01, 2021
FHFA's 2022 Conforming Loan Limit Maxes Out At Nearly $1M

Baseline limit for Fannie, Freddie increases to $647,200, but for 'high-cost areas' loan ceiling set at $970,800 for single-family homes.

Regulation and Compliance
Dec 01, 2021
Regulators Are Back In The Saddle

There’s not only a new sherriff in town, it’s a whole gang of them.

Regulation and Compliance
Nov 29, 2021
CFPB Seeks Insight On Creating A Fairer Mortgage Market

The Consumer Financial Protection Bureau has been actively looking to create a fairer mortgage market, free of discriminatory engagements. To do so, it issued a Request for Information to seek input on rules implementing the Home Mortgage Disclosure Act.

Regulation and Compliance
Nov 17, 2021