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State housing finance agency credit ratings stabilize

Credit ratings for the single-family programs of state housing finance agencies in the U.S.

New neighbors in VHFA’s future?

Plans for the final development of the block across from VHFA’s offices took a leap forward recently.  On Tuesday, Burlington voters approved the creation of a tax increment financing district to help projects such as this in the cit

Treasury announces $35 million in New Markets Tax Credit awards for Vermont

Emphasizing the importance of economic recovery in distressed areas, U.S. Department of the Treasury's announced last week the award of $3.6 billion in New Markets Tax Credit (NMTC) nationwide, including $35 million for Vermont projects.  

Housing finance agency bonds give best risk-adjusted return among municipal bonds

Since 2009, bonds backed by payments on publicly financed single-family-home loans earned more than all other types of municipal bonds, according to data compiled by Bloomberg.

Materials available for next week's QAP public hearing

Next Thursday, February 2, 2012, Vermont's Joint Committee on Tax Credits will conduct a public hearing to discuss changes to the Qualified Allocation Plan (QAP) used to select the projects that will receive state and federal housing tax credits.

Hefty down payment requirements may block creditworthy home buyers

According to a recent study, requiring down payments of at least ten percent is less likely to prevent a mortgage from defaulting than other measures, such as requiring borrower income documentation and prohibiting hybrid adjustable-rate mortgages with “teaser payments”.   

Researchers at the University of North Carolina’s Center for Responsible Lending used national level data to examine the effect of various requirements on borrowers’ access to mortgage credit and on the number of defaults they would be likely to prevent.   

Federal Reserve suggests ways to improve U.S. housing conditions

In a paper delivered to Congress last week, Ben Bernanke and his staff describe the complex and interdependent issues hampering today’s housing market.

VHFA's 2011 Annual Report available online

Between July 2010 and June  2011, VH FA issued more than $3 billion in bonds to finance housing for low and moderate-income Vermont home buyers and renters, overhauled its Housing Data website, and increased the financing it provided for multifamily projects.

Vermont investors bolster success of recent VHFA bond sale

During our recent sale of single family bonds, Vermonters’ own investment decisions helped ensured the success of the deal and the continuation of low interest rate VHFA-financing to qualified home buyers.  These AAA-rated, tax exempt bonds, which also benefited from favorable interest rates in late November, totaled $12 million. 

Recourse for borrowers harmed during foreclosure

The Federal Reserve Board has announced that borrowers who think they may have been financially harmed in the mortgage foreclosure process in 2009 and 2010 can now request an independent review and potentially receive compensation. Servicers are required to compensate borrowers for financial injury resulting from deficiencies in their foreclosure processes. Below is a list of participating servicers.


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