If your Local Housing Assistance Plan has had the same strategies for some time, give your Plan a Check-Up. Consider the three topic areas below as you review your current strategies. These subjects were discussed at the Coalition's "SHIP Program Administration" workshop in Miami on November 5, 2008. The powerpoint slides for this section of the workshop are available at this link: www.flhousing.org/uploadedcontentfiles/SHIPstrategy.ppt
Universal Design for New Construction
*Design Principles to incorporate into SHIP Strategies
*Examples of Accessible Features
Energy Efficiency
*Energy Education for SHIP recipients
*Features for New Construction
Combining Strategies
*How many strategies do other communities include in their plans?
*When are there too many strategies?
aBonus Clip: Universal Design Song
Friday, November 7, 2008
Thursday, July 10, 2008
Fannie Mae ditching declining-market policy
Fannie Mae is scrapping a "declining markets" policy that required loan underwriters to boost minimum down-payment requirements by 5 percent in areas where home prices are falling or difficult to determine.
Beginning in June, Fannie Mae will instead require 3 percent down payments for conventional, conforming mortgages processed through its Desktop Underwriter automated underwriting system, and 5 percent minimum down payments for loans processed manually. Larger down payments may be required depending on occupancy, property and transaction types.
The new single national down-payment policy will retire a controversial declining-market policy announced in December. The policy, implemented Jan. 15, boosted the minimum down payment required by 5 percent when Desktop Underwriter flagged a property as being located in an area of declining home prices or where it was difficult to assess home values. The policy also applied if an appraiser determined a property was in a declining market.
In an April 11 letter, the National Association of Realtors complained to Fannie Mae that "entire metropolitan statistical areas (MSAs) have been tagged as declining markets regardless of the actual values in the local neighborhoods, which further discourages potential buyers from entering the market."
The policy kept some would-be home buyers from taking action because they could not come up with the funds to make the increased down payment. Others avoided buying because they were afraid to do so if prices were still declining.
"In either case, the impact of the policy becomes a self-fulfilling prophecy that creates declining markets that did not exist before and intensifies the decline for markets that are declining and delays their recovery," NAR President Richard Gaylord said in a letter to Fannie Mae Chief Executive Officer Daniel Mudd.
Fannie Mae says it's able to move away from the declining markets policy because the latest version of Desktop Underwriter -- Version 7.0 -- will limit risk layering and assess each loan more precisely.
"At the same time, we believe that equity matters, especially in this market," Marianne Sullivan, Fannie Mae's senior vice president of single-family credit policy and risk management, said in a statement. "Down payments are a critical success factor in home ownership -- and responsible lending is good business."
Private mortgage insurers who insure most loans purchased by Fannie Mae and Freddie Mac in cases where borrowers put down less than 20 percent have their own requirements, including 3 percent minimums and stricter standards in declining markets (see story).
Fannie Mae's new national down-payment policy is part of the company's "Keys to Recovery" initiative announced May 6, which also includes improved pricing for jumbo-conforming mortgages to help borrowers in high-cost areas.
Through the end of the year, Fannie Mae announced this month that it will buy the new jumbo-conforming loans -- up to $729,750 in high-cost areas -- at the same price as loans that meet the conventional conforming loan limit of $417,000.
Congress gave the government-sponsored enterprises the ability to purchase mortgages larger than the conventional conforming loan limit of $417,000 in the hopes of bringing down interest rates on jumbo loans.
But until recently, the "spread" between conventional conforming loans and jumbo loans had remained pronounced -- about 1 percent -- and lawmakers have expressed disappointment about the pricing of jumbo conforming loans.
Although rates on jumbo conforming loans have come down, the House Financial Services Committee will hold a hearing on May 22 to examine the steps taken to implement the new loans and the impact on home buyers and the housing market.
http://www.freddiemac.com/singlefamily/20080529_advisory.html
Update on Elimination of Declining Markets Policy
May 29, 2008 Advisory E-mail Message to Seller/Servicers
On May 16, we announced the elimination of our declining markets policy to provide a simplified way for lenders to determine the maximum allowable financing for loans that we will purchase. In today's special Single-Family Seller/Servicer Guide (Guide) Bulletin [PDF 210K], we are following up on this announcement by providing the detailed requirements for this change.
For mortgages with application dates on or after June 1, 2008, we are eliminating the requirement to reduce the maximum LTV/TLTV/HTLTV ratios when a property is located in a market with declining home values.
For mortgages with application dates on or after June 1, whether manually underwritten or assessed through Loan Prospector®, we will continue to allow maximum financing up to 95 percent LTV for most purchase and no cash-out refinance mortgages secured by 1- to 2-unit primary residences or second homes–in all markets. For low- and moderate-income borrowers and borrowers in underserved areas, we will continue to provide up to 100 percent LTV and 105 percent TLTV financing for 1-unit primary residences through our Home Possible® Mortgages.
To help ensure that borrowers are using purchase transaction Home Possible Mortgages with higher LTV/TLTV ratios to purchase homes they can afford and keep, effective June 1 and as previously announced, we will require homeownership education before the note date when all borrowers are first-time homebuyers. At the same time, we are also ensuring borrowers have an appropriate credit history.
In addition, as a result of our review of our maximum financing requirements, we are making adjustments to maximum financing requirements for certain mortgage products and transaction types to ensure they more appropriately reflect sound lending practices in the current market environment. With today's Bulletin, effective for mortgages with application dates on or after June 1, 2008 we are also:
Announcing that we will no longer purchase mortgages with LTV/TLTV/HTLTV ratios greater than 95 percent, with the exception of: FHA/VA Mortgages, Section 502 GRH Mortgages, Section 184 Native American Mortgages and Home Possible Mortgages with LTV and TLTV ratios greater than 95 percent, subject to all existing requirements for these mortgages. Note that as previously announced, Home Possible Mortgages with an LTV/TLTV ratio greater than 97 percent must have an Indicator Score greater than or equal to 700.
Eliminating the requirement announced in our May 2 Guide Bulletin of a Loan Prospector® Accept Risk Class for purchase and no cash-out refinance mortgages with LTV/TLTV/HTLTV ratios equal to or greater than 95 percent. We established this requirement as a condition for reducing maximum financing to 95 percent for mortgages in declining markets where maximum financing was equal to or greater than 95 percent. This requirement, along with other requirements in our May 2 Bulletin, no longer applies as a result of the elimination of our declining markets policy.
Reducing the maximum LTV/TLTV/HTLTV ratios for:
Cash-out refinance mortgages secured by 1- to 2-unit primary residences or second homes to 85%/80%/85%/90% LTV without and with secondary financing/TLTV/HTLTV (this includes cash-out refinance Initial InterestSM Mortgages).
Purchase and no cash-out refinance mortgages secured by 1- to 2-unit investment properties to 85%/80%/85%/90% LTV without and with secondary financing/TLTV/HTLTV.
Modifying our current Alt 97® Mortgage requirements to reduce the maximum financing to 95 percent LTV/TLTV (for Alt 97 Mortgages with secondary financing, the maximum LTV ratio is reduced to 90 percent).
Adjusting our maximum financing requirements for Home Possible Mortgages and lender-branded affordable mortgages secured by:
2-unit properties, by reducing the maximum LTV ratio to 95 percent, and reducing the maximum TLTV ratio to 100 percent.
3- and 4-unit properties, by maintaining the maximum LTV ratio at 95 percent, and reducing the maximum TLTV ratio to 100 percent.
Revising Guide Exhibit 19, Postsettlement Delivery Fees, to reflect the reduced LTV/TLTV/HTLTV ratios. There are no changes to our delivery fees or fee rates as a result of these changes. However, all applicable current postsettlement delivery fees continue to apply, including the Market Condition delivery fee.
Implementing These Changes
All changes in this Bulletin supersede the maximum financing requirements that previously applied to mortgages secured by properties located in declining markets. This includes the changes we made to LTV/TLTV/HTLTV ratio reduction requirements in our May 2 Bulletin.
There are no changes to our delivery requirements as a result of today's Bulletin.
In addition, please see the Bulletin for more information on:
To cover pipelines for mortgages originated under our declining markets policies in effect before June 1, 2008, these mortgages are still eligible for sale to us provided they met all of our previous requirements and have Freddie Mac Settlement Dates on or before August 31, 2008.
Specific information on how the changes we announced today may impact your Master Agreement.
Information for Loan Prospector Assessments
At this time, we will not update Loan Prospector to reflect our new requirements. For mortgages assessed in Loan Prospector with application dates on and after June 1, 2008, you will need to perform a manual review of the mortgage file to ensure the mortgage meets the requirements announced in today's Bulletin and is eligible for sale to us.
Get More Information
http://seattletimes.nwsource.com/html/realestate/2004435396_harney25.html?syndication=rss
Beginning in June, Fannie Mae will instead require 3 percent down payments for conventional, conforming mortgages processed through its Desktop Underwriter automated underwriting system, and 5 percent minimum down payments for loans processed manually. Larger down payments may be required depending on occupancy, property and transaction types.
The new single national down-payment policy will retire a controversial declining-market policy announced in December. The policy, implemented Jan. 15, boosted the minimum down payment required by 5 percent when Desktop Underwriter flagged a property as being located in an area of declining home prices or where it was difficult to assess home values. The policy also applied if an appraiser determined a property was in a declining market.
In an April 11 letter, the National Association of Realtors complained to Fannie Mae that "entire metropolitan statistical areas (MSAs) have been tagged as declining markets regardless of the actual values in the local neighborhoods, which further discourages potential buyers from entering the market."
The policy kept some would-be home buyers from taking action because they could not come up with the funds to make the increased down payment. Others avoided buying because they were afraid to do so if prices were still declining.
"In either case, the impact of the policy becomes a self-fulfilling prophecy that creates declining markets that did not exist before and intensifies the decline for markets that are declining and delays their recovery," NAR President Richard Gaylord said in a letter to Fannie Mae Chief Executive Officer Daniel Mudd.
Fannie Mae says it's able to move away from the declining markets policy because the latest version of Desktop Underwriter -- Version 7.0 -- will limit risk layering and assess each loan more precisely.
"At the same time, we believe that equity matters, especially in this market," Marianne Sullivan, Fannie Mae's senior vice president of single-family credit policy and risk management, said in a statement. "Down payments are a critical success factor in home ownership -- and responsible lending is good business."
Private mortgage insurers who insure most loans purchased by Fannie Mae and Freddie Mac in cases where borrowers put down less than 20 percent have their own requirements, including 3 percent minimums and stricter standards in declining markets (see story).
Fannie Mae's new national down-payment policy is part of the company's "Keys to Recovery" initiative announced May 6, which also includes improved pricing for jumbo-conforming mortgages to help borrowers in high-cost areas.
Through the end of the year, Fannie Mae announced this month that it will buy the new jumbo-conforming loans -- up to $729,750 in high-cost areas -- at the same price as loans that meet the conventional conforming loan limit of $417,000.
Congress gave the government-sponsored enterprises the ability to purchase mortgages larger than the conventional conforming loan limit of $417,000 in the hopes of bringing down interest rates on jumbo loans.
But until recently, the "spread" between conventional conforming loans and jumbo loans had remained pronounced -- about 1 percent -- and lawmakers have expressed disappointment about the pricing of jumbo conforming loans.
Although rates on jumbo conforming loans have come down, the House Financial Services Committee will hold a hearing on May 22 to examine the steps taken to implement the new loans and the impact on home buyers and the housing market.
http://www.freddiemac.com/singlefamily/20080529_advisory.html
Update on Elimination of Declining Markets Policy
May 29, 2008 Advisory E-mail Message to Seller/Servicers
On May 16, we announced the elimination of our declining markets policy to provide a simplified way for lenders to determine the maximum allowable financing for loans that we will purchase. In today's special Single-Family Seller/Servicer Guide (Guide) Bulletin [PDF 210K], we are following up on this announcement by providing the detailed requirements for this change.
For mortgages with application dates on or after June 1, 2008, we are eliminating the requirement to reduce the maximum LTV/TLTV/HTLTV ratios when a property is located in a market with declining home values.
For mortgages with application dates on or after June 1, whether manually underwritten or assessed through Loan Prospector®, we will continue to allow maximum financing up to 95 percent LTV for most purchase and no cash-out refinance mortgages secured by 1- to 2-unit primary residences or second homes–in all markets. For low- and moderate-income borrowers and borrowers in underserved areas, we will continue to provide up to 100 percent LTV and 105 percent TLTV financing for 1-unit primary residences through our Home Possible® Mortgages.
To help ensure that borrowers are using purchase transaction Home Possible Mortgages with higher LTV/TLTV ratios to purchase homes they can afford and keep, effective June 1 and as previously announced, we will require homeownership education before the note date when all borrowers are first-time homebuyers. At the same time, we are also ensuring borrowers have an appropriate credit history.
In addition, as a result of our review of our maximum financing requirements, we are making adjustments to maximum financing requirements for certain mortgage products and transaction types to ensure they more appropriately reflect sound lending practices in the current market environment. With today's Bulletin, effective for mortgages with application dates on or after June 1, 2008 we are also:
Announcing that we will no longer purchase mortgages with LTV/TLTV/HTLTV ratios greater than 95 percent, with the exception of: FHA/VA Mortgages, Section 502 GRH Mortgages, Section 184 Native American Mortgages and Home Possible Mortgages with LTV and TLTV ratios greater than 95 percent, subject to all existing requirements for these mortgages. Note that as previously announced, Home Possible Mortgages with an LTV/TLTV ratio greater than 97 percent must have an Indicator Score greater than or equal to 700.
Eliminating the requirement announced in our May 2 Guide Bulletin of a Loan Prospector® Accept Risk Class for purchase and no cash-out refinance mortgages with LTV/TLTV/HTLTV ratios equal to or greater than 95 percent. We established this requirement as a condition for reducing maximum financing to 95 percent for mortgages in declining markets where maximum financing was equal to or greater than 95 percent. This requirement, along with other requirements in our May 2 Bulletin, no longer applies as a result of the elimination of our declining markets policy.
Reducing the maximum LTV/TLTV/HTLTV ratios for:
Cash-out refinance mortgages secured by 1- to 2-unit primary residences or second homes to 85%/80%/85%/90% LTV without and with secondary financing/TLTV/HTLTV (this includes cash-out refinance Initial InterestSM Mortgages).
Purchase and no cash-out refinance mortgages secured by 1- to 2-unit investment properties to 85%/80%/85%/90% LTV without and with secondary financing/TLTV/HTLTV.
Modifying our current Alt 97® Mortgage requirements to reduce the maximum financing to 95 percent LTV/TLTV (for Alt 97 Mortgages with secondary financing, the maximum LTV ratio is reduced to 90 percent).
Adjusting our maximum financing requirements for Home Possible Mortgages and lender-branded affordable mortgages secured by:
2-unit properties, by reducing the maximum LTV ratio to 95 percent, and reducing the maximum TLTV ratio to 100 percent.
3- and 4-unit properties, by maintaining the maximum LTV ratio at 95 percent, and reducing the maximum TLTV ratio to 100 percent.
Revising Guide Exhibit 19, Postsettlement Delivery Fees, to reflect the reduced LTV/TLTV/HTLTV ratios. There are no changes to our delivery fees or fee rates as a result of these changes. However, all applicable current postsettlement delivery fees continue to apply, including the Market Condition delivery fee.
Implementing These Changes
All changes in this Bulletin supersede the maximum financing requirements that previously applied to mortgages secured by properties located in declining markets. This includes the changes we made to LTV/TLTV/HTLTV ratio reduction requirements in our May 2 Bulletin.
There are no changes to our delivery requirements as a result of today's Bulletin.
In addition, please see the Bulletin for more information on:
To cover pipelines for mortgages originated under our declining markets policies in effect before June 1, 2008, these mortgages are still eligible for sale to us provided they met all of our previous requirements and have Freddie Mac Settlement Dates on or before August 31, 2008.
Specific information on how the changes we announced today may impact your Master Agreement.
Information for Loan Prospector Assessments
At this time, we will not update Loan Prospector to reflect our new requirements. For mortgages assessed in Loan Prospector with application dates on and after June 1, 2008, you will need to perform a manual review of the mortgage file to ensure the mortgage meets the requirements announced in today's Bulletin and is eligible for sale to us.
Get More Information
http://seattletimes.nwsource.com/html/realestate/2004435396_harney25.html?syndication=rss
Sunday, April 27, 2008
SHIP Annual Reports: Training Videos
These videos provide a brief introduction to the subjects of the annual reporting and tracking of SHIP funds. They may prove helpful if you are new to working with the SHIP program, or you have recently taken over the responsibilities of SHIP tracking and annual reporting. Review the April 11 Post for additional information and training opportunities about SHIP annual reporting and tracking.
To advance or back-up the video, use your cursor to click on the red dot below the video, hold down and drag it left or right.
A. Introduction to SHIP Annual Reporting and Tracking
*Review of SHIP Timeline Chart
*Encumbrance and Expenditure Deadlines
*General Rule: First In, First Out
B. Set Aside Review
You know that SHIP has allotments—or Set-Asides—for homeownership assistance; for very low and low income assistance; and for new construction and rehabilitation activities. Do you know all the details? Check your knowledge with this review of the Set-Aside requirements.
a Homeownership Set-Aside
a Construction/Rehabilitation Set-Aside
a Income Set-Aside
C. More Details about Tracking and Reporting
Tracking: “It’s the Law”
· Track expenditures “per household”
· Data to collect
· Tracking is a program requirement
“Dance the TRAKSHIP Two Step”
· Tracking is a 2 Step Process
· Update Daily
· Introduction to TRAKSHIP, the SHIP tracking system designed by the Florida Housing Coalition.
Sunday, April 13, 2008
Foreclosure Prevention Resources
During its April 2008 Foreclosure Prevention workshop, the Florida Housing Coalition explored evidence that the “assisted” low income homebuyers receiving downpayment and closing cost subsidy have, for the most part, remained unaffected by the recent wave of foreclosures. The following brief audio and video recordings highlight some key topics from the workshop. A powerpoint and handouts that accompany the recordings are available by emailing chaney@flhousing.org.
Click on the links below (it takes a minute to load) to listen to:
1. A review of the policies and assistance provided to Assisted Buyers to help them avoid foreclosure even before purchase. Education and counseling, lenders guidelines, affordability criteria, and subordination policies are all discussed. Click HERE: http://cdn4.libsyn.com/chaneyhousing/The_Assisted_Homebuyer_AVOIDING_Foreclosure.mp3
2. A summary of key elements of a SHIP Foreclosure Prevention strategy to help those currently facing foreclosure. This recording also includes a review of a current bill in the 2008 Florida Legislative Session that could further help SHIP jurisdictions. Click HERE: http://cdn2.libsyn.com/chaneyhousing/How_SHIP_helps_those_facing_Foreclosure.mp3
3. A discussion of how current and future Assisted Buyers are affected by the Credit Crunch that has resulted from the foreclosure crisis. Click HERE: http://cdn2.libsyn.com/chaneyhousing/The_Future_Assisted_Buyer.mp3
MORE TRAINING AVAILABLE
The Florida Housing Coalition plans to offer two relevant trainings in the second half of 2008. Sign up for the waiting list for either or both events by sending an email request to Pam Davis at pamiam@flhousing.org.
1. First, the one day Foreclosure Prevention workshop will be offered again.
2. The Coalition also teaches a 5 Day class to become a certified Housing Counselor. This course was developed by Neighborworks America and is entitled “Housing Counseling Certification: Principles, Practices and Techniques”. It offers the skills, procedures and content needed to help counselors create new homeowners. Once a counselor completes this course, passes the final exam, and attends a separate class on Foreclosure Prevention, he or she will be awarded a full certification in Housing Counseling from Neighborworks America and the Florida Housing Coalition. There is a $875 registration fee to attend.THE CAUSES OF THE CRISIS
The beginning of the workshop was filmed. The following video shorts review some factors that have caused the current foreclosure crisis.
Part 1: Buyers and Lenient Lenders
Part 2: Subprime Loans
Friday, April 11, 2008
Updated SHIP Tracking Spreadsheet
The Coalition announces its release of updated software to assist local jurisdictions with SHIP program changes.
The newly revised spreadsheet is available at this link: www.flhousing.org/pdf/TrackShip.xls
BACKGROUND:
At the beginning of 2008, the Florida Housing Finance Corporation changed significant portions of the SHIP Rule, and some changes affect the SHIP Annual Report.
EXAMPLE #1: Future reports must detail sources of Program Income and Recaptured Funds, including foreclosure, refinance and sale of property.
EXAMPLE #2: SHIP administrators must report the amounts of administrative expenses spent by the local government and by sub-recipient agencies. The Annual Report must now include a list of sub-recipient organizations and consultants that help the jurisdiction implement its SHIP program.
RECORDING ABOUT TRACKING:
The topic of tracking and reporting changes was discussed in February during four online trainings offered by the Florida Housing Coalition. The Coalition is now offering an audio recording—which is called a Podcast when it is played on an IPOD or other MP3 player—of this Webinar. For those who were unable to participate in these brief, one-time-only trainings in February, 2008, the Coalition offers this podcast, along with the corresponding powerpoint presentation for each.
Webinar “Annual Report Changes”
1. First download the powerpoint to your computer
2. Next, turn up the volume on your computer and click www.flhousing.org/uploadedcontentfiles/PODCASTMP3shiprule.mp3
3. Finally, open up the powerpoint to follow along with the training.
ONLINE TRAINING about TRACKING and REPORTING:
The Coalition also regularly offers a more in-depth workshop(5 hours in 3 sessions) online. If you are interested, email Pam Davis pamiam@flhousing.org and ask to be added to the waiting list for the "Annual Report online Workshop".
DETAILS ABOUT NEW TRACKING SPREADSHEET
In response to current SHIP Rule changes, the Coalition has updated the SHIP tracking spreadsheet it created to help SHIP administrators in the early years of the program. The Coalition’s tracking system—an Excel spreadsheet called TRAKSHIP—has been updated to track funding devoted to Extremely Low Income (ELI) households. The spreadsheet reviews the activities for ELI and Very Low Income households together to track compliance with the Income Set-aside. The new version of TRAKSHIP also includes more rows to track all the households assisted per strategy. This accommodates jurisdictions that provide more than 50 recipients with assistance from a single strategy. The updated software offers a new method useful when initially setting up a spreadsheet for a new SHIP distribution.
Remember, a SHIP jurisdiction is not required to use the exact tracking spreadsheet designed by the Coalition. Some may wish to only review the Coalition’s version as they work to create a customized tracking system for their local programs. The only requirement—as outlined in Section 67-53.005 of Florida Housing’s Compliance Rule—is that “the staff or entity with administrative authority for a local housing assistance plan must develop a tracking system to ensure that the local housing distribution funds disbursed from the local housing assistance trust fund are at all times expended in accordance with the set-aside requirements in Rule 67-37.007, F.A.C., and time restraints detailed at subsection 67-37.005(6), F.A.C.”.
The newly revised spreadsheet is available at this link: www.flhousing.org/pdf/TrackShip.xls
BACKGROUND:At the beginning of 2008, the Florida Housing Finance Corporation changed significant portions of the SHIP Rule, and some changes affect the SHIP Annual Report.
EXAMPLE #1: Future reports must detail sources of Program Income and Recaptured Funds, including foreclosure, refinance and sale of property.
EXAMPLE #2: SHIP administrators must report the amounts of administrative expenses spent by the local government and by sub-recipient agencies. The Annual Report must now include a list of sub-recipient organizations and consultants that help the jurisdiction implement its SHIP program.
RECORDING ABOUT TRACKING:
The topic of tracking and reporting changes was discussed in February during four online trainings offered by the Florida Housing Coalition. The Coalition is now offering an audio recording—which is called a Podcast when it is played on an IPOD or other MP3 player—of this Webinar. For those who were unable to participate in these brief, one-time-only trainings in February, 2008, the Coalition offers this podcast, along with the corresponding powerpoint presentation for each.
Webinar “Annual Report Changes”
1. First download the powerpoint to your computer
2. Next, turn up the volume on your computer and click www.flhousing.org/uploadedcontentfiles/PODCASTMP3shiprule.mp3
3. Finally, open up the powerpoint to follow along with the training.
ONLINE TRAINING about TRACKING and REPORTING:
The Coalition also regularly offers a more in-depth workshop(5 hours in 3 sessions) online. If you are interested, email Pam Davis pamiam@flhousing.org and ask to be added to the waiting list for the "Annual Report online Workshop".
DETAILS ABOUT NEW TRACKING SPREADSHEET
In response to current SHIP Rule changes, the Coalition has updated the SHIP tracking spreadsheet it created to help SHIP administrators in the early years of the program. The Coalition’s tracking system—an Excel spreadsheet called TRAKSHIP—has been updated to track funding devoted to Extremely Low Income (ELI) households. The spreadsheet reviews the activities for ELI and Very Low Income households together to track compliance with the Income Set-aside. The new version of TRAKSHIP also includes more rows to track all the households assisted per strategy. This accommodates jurisdictions that provide more than 50 recipients with assistance from a single strategy. The updated software offers a new method useful when initially setting up a spreadsheet for a new SHIP distribution.
Remember, a SHIP jurisdiction is not required to use the exact tracking spreadsheet designed by the Coalition. Some may wish to only review the Coalition’s version as they work to create a customized tracking system for their local programs. The only requirement—as outlined in Section 67-53.005 of Florida Housing’s Compliance Rule—is that “the staff or entity with administrative authority for a local housing assistance plan must develop a tracking system to ensure that the local housing distribution funds disbursed from the local housing assistance trust fund are at all times expended in accordance with the set-aside requirements in Rule 67-37.007, F.A.C., and time restraints detailed at subsection 67-37.005(6), F.A.C.”.
TIPS: Affordable Housing Advisory Committees
The SHIP Statute and Rule have recently changed. They now require each SHIP jurisdiction to assemble an Affordable Housing Advisory Committee composed of 11 representatives of several housing stakeholder groups. This committee must create a report on the subject of Land Use "Regulatory Reform" and "Incentive Strategies" to promote the development of affordable housing. Here are some specific requirements related to the advisory committees:
1. The deadline to establish and appoint the board members by resolution or ordinance is June 30, 2008
2. A report is due every three years. The first mandatory report is due December 31, 2008. Naturally, the committee members will have to meet more than once to consider the topic of regulatory reform/incentive strategies before writing a report. The SHIP and Statute do not dictate a specific number of meetings required.
3. These are the SHIP citations that refer to the committee.
SHIP Statute: First part of section 420.9076
SHIP Rule: Section 67-37.010
RESOURCE:
The Coalition offered a web-based training on this topic in February. The Coalition is now offering an audio recording—which is called a Podcast when it is played on an IPOD or other MP3 player—of this online Webinar. For those who were unable to participate in these brief, one-time-only trainings in February, 2008, the Coalition offers this podcast, along with the corresponding powerpoint presentation for each. Webinar “Affordable Housing Advisory Committee”
1. The deadline to establish and appoint the board members by resolution or ordinance is June 30, 2008
2. A report is due every three years. The first mandatory report is due December 31, 2008. Naturally, the committee members will have to meet more than once to consider the topic of regulatory reform/incentive strategies before writing a report. The SHIP and Statute do not dictate a specific number of meetings required.
3. These are the SHIP citations that refer to the committee.
SHIP Statute: First part of section 420.9076
SHIP Rule: Section 67-37.010
RESOURCE:
The Coalition offered a web-based training on this topic in February. The Coalition is now offering an audio recording—which is called a Podcast when it is played on an IPOD or other MP3 player—of this online Webinar. For those who were unable to participate in these brief, one-time-only trainings in February, 2008, the Coalition offers this podcast, along with the corresponding powerpoint presentation for each. Webinar “Affordable Housing Advisory Committee”
1. First download the powerpoint to your computer
2. Next, turn up the volume on your computer and click www.flhousing.org/uploadedcontentfiles/PODCASTAdvisoryComm.mp3
3. Finally, open up the powerpoint to follow along with the training.
Tuesday, February 12, 2008
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