HUD Awards $10M in SHOP Grants – NMP Skip to main content

HUD Awards $10M in SHOP Grants

Phil Hall
Jan 19, 2017

In one of his final acts as the nation’s housing policy chief, Department of Housing and Urban Development (HUD) Secretary Julián Castro awarded $10 million in so-called “sweat equity” grants to four non-profit self-help housing organizations through HUD’s Self-Help Homeownership Opportunity Program (SHOP). 

According to a HUD statement, the new funding will create at least 539 affordable homes and significantly lower their purchase price for low-income buyers, who will contribute their own labor toward the construction or rehabilitation of these units. The organizations receiving funds are Community Frameworks ($1,676,280), Habitat for Humanity International ($5,898,895), Housing Assistance Council ($1,145,625) and Tierra del Sol / Western States Housing Consortium ($1,279,200)

“Our SHOP grants help advance a fundamental ideal: that every American deserves the chance to build a brighter future by combining opportunity with their own hard work,” said Castro. “We’re proud to help hundreds of families secure an enduring cornerstone of the American Dream.”

Published
Jan 19, 2017
Homepoint Expands Refinance Program Offerings

Now offers Freddie Mac’s new refinance option, Refi Possible, making it easier for many homeowners with a Freddie Mac-owned mortgage to reduce their interest rate.

Industry News
Nov 30, 2021
Non-QM Lender Deephaven Hires Business Development VP

Dallas-based Tim Fisher charged with growing Deephaven’s correspondent business In Texas and surrounding states

Industry News
Nov 30, 2021
Biden Reappoints Powell As Federal Reserve Chairman

A signal that The Fed will continue its policies as inflation surges and economic uncertainty spikes due to an emerging variant of the coronavirus. 

Industry News
Nov 29, 2021
Servion Taps Sagent For Consumer-First Servicing Tech Stack

A 7-year deal between Servion Mortgage and Sagent will equip Servion with Sagent's tech stack for performing, non-performing, and consumer experience.

Tech
Nov 29, 2021
Guaranteed Rate's Banosian Funds $2B In Total Loan Volume

The mortgage industry shouldn't be surprised by Guaranteed Rate's top loan officer, Shant Banosian, funding $2 billion in total loan volume during a record-breaking year. After all, “The Billion Dollar Man” is one of the top 5 loan originators in the U.S.

Wholesale
Nov 29, 2021
Chairman Xu Sells Off Personal Assets To Avoid Default

The Evergrande saga continues as Chairman Xu Jiayin sells off 7 billion yuan ($1.1 billion) of his personal assets to prop up the deflating property giant.

Industry News
Nov 23, 2021