Legislative Updates

AHMA-PSW’s Affordable Housing News 09/27/18


  • Recently, the Consumer Financial Protection Bureau (CFPB) announced that it is requiring all consumer reporting agencies to provide an additional consumer disclosure as part of the Adverse Action notice process. This may add several pages to your existing credit denial letter. Check with your credit reporting agency to make sure that their notice, or your in house notice, meets the new requirements.
  • The California Department of Housing and Community Development (HCD) will administer the Community Development Block Grant Program – Disaster Recovery (CDBG-DR) funds allocated by the U.S. Department of Housing and Urban Development (HUD) as a result of the October and December 2017 disasters.
  • HCD works with local governments and organizations to fund programs that provide long-term recovery assistance for housing, infrastructure, and economic revitalization. Two Public Meetings are scheduled in the PSW service area October 9 in Sylmar and October 11 in Ventura. Please look at this Meeting Flyer for more information.
  • The California Department of Housing and Community Development (HCD) invites you to an exclusive workshop/webinar that will provide you with the latest updates to help your organization be best prepared for the upcoming Schedule of Rental Income (SRI) season. Geared towards asset managers and property managers, this workshop/webinar will provide a comprehensive overview of the consolidated SRI form as well as a few examples from existing projects. The workshop will be held on Thursday, October 4 9:15-11:45 and may be attended in person at HCD Headquarters, 2020 W El Camino Ave Room 402, Sacramento (Register or via webinar –Register).
  • The Semi-Annual Report for the current Davis-Bacon HUD Labor Standards Reporting Period 2 (April 1, 2018 through September 30, 2018) are due October 10, 2018. For HOME Reports, please submit to: Mona Akbar, CA Department of Housing and Community Development DFA – Labor Compliance at 2020 West El Camino Avenue, Suite 400 Sacramento, CA 95833. HOME@hcd.ca.gov
  • HUD is pleased to announce the Preservation of Pre-1974 Section 202 Direct Loan Properties webinar. This webinar is scheduled to take place on October 9, 2018 at 2:00 PM EDT. This 90-minute webinar provides a detailed review of preservation options for Pre-1974 Section 202 Direct Loan properties. The webinar will include guidance on recent HUD notices related to prepayment and refinance of Section 202 Direct Loans (Notice H 2013-17), and strategies to obtain and utilize tenant protection vouchers and Senior Preservation Rental Assistance Contracts (SPRACs) (Notices H 2018-01 and H 2018-02). Following the overview of these preservation options, participants will be able to participate in a Q&A session with the presenters.