HUD Unveils Multi-Agency Affordable Housing Plans

The Department of Housing and Urban Development (HUD) has announced a series of actions aimed at assisting in the Biden Administrations goal of creating, preserving, and selling about 100,000 affordable houses over the next three years. HUD Secretary Marcia L. Fudge said, “These actions will expand access to critical capital for state Housing Finance Agencies, empower local communities to build more affordable housing using the historic investments contained in the American Rescue Plan, and advance equitable housing policies such as inclusionary zoning practices.” The Mortgage Bankers Association (MBA) released the following statement from its president and CEO Bob Broeksmit in support of the initiatives. “MBA strongly supports the administration’s efforts to increase the housing supply by encouraging the construction and rehabilitation of affordable apartments and homes for renters and first-time buyers.