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Housing: A first order of business for Biden
Michele Lerner, The Washington Post
Jan. 28, 2021
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Ramping up the availability of coronavirus vaccinations and addressing the fiscal crisis facing many Americans - including housing issues - are the current priorities for President Joe Biden and his administration.
An array of potential new housing policies proposed during his campaign could help first-time buyers, increase the affordability of housing and address discrimination. Housing policy is another way to address social justice and income inequality issues, said Tim Rood, head of government and industry relations at SitusAMC, a company that provides technology, data analytics and consulting services to lenders. Homeownership is a wealth creation opportunity that has gotten away from too many people in this country.
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MCLEAN, Va., Jan. 27, 2021 (GLOBE NEWSWIRE) Freddie Mac (OTCQB:FMCC) today announced it has provided $1.5 billion in Low-Income Housing Tax Credit (LIHTC) equity investments since reentering the market in 2018. In addition to reaching a volume milestone, the program has topped the 100 investments mark. The investments in low-income housing span underserved communities in 25 states, Puerto Rico and Guam and provide more than 12,600 homes for households that struggle to find safe and affordable rental housing. Over the last three years we have committed over $1.5 billion in LIHTC equity investments to provide vital capital that supports properties in underserved communities, said Steve Johnson, vice president of Production and Sales for Freddie Mac Multifamily s Targeted Affordable Housing. These investments fund the creation and preservation of affordable housing where it is needed most.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Signature Bank Reports 2020 Fourth Quarter and Year-end Results
January 21, 2021 GMT
NEW YORK (BUSINESS WIRE) Jan 21, 2021
Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, today announced results for its fourth quarter ended December 31, 2020.
Net income for the 2020 fourth quarter was $173.0 million, or $3.26 diluted earnings per share, versus $147.6 million, or $2.76 diluted earnings per share, for the 2019 fourth quarter. The increase in net income for the 2020 fourth quarter, versus the comparable quarter last year, is primarily the result of an increase in net interest income, fueled by strong average deposit and loan growth. This is partially offset by an increase in the provision for credit losses of $25.8 million predominantly due to effects of COVID-19 on the U.S. economy. Pre-tax, pre-provision earnings were $261.5 million, representing an increas
CARMEL, IN - Mortgage banking company Merchants Capital has established a tax credit syndication platform, a new business unit that infuses private equity from institutional investors into Low Income Housing Tax Credit multifamily housing projects. This launch reflects Merchants Capital’s transformation into a full-service financing provider for affordable housing.
The new platform reinforces Merchants Capital’s proven leadership in multifamily finance, as the company has long been an advocate for utilizing market-leading financing solutions to provide affordable housing that improves quality of life.
“We are doubling down our commitment to affordable housing,” said Michael R. Dury, Merchants Capital President and CEO. “Leveraging the bank’s balance sheet, along with Merchants Capital’s agency permanent debt financing through HUD, Fannie Mae and Freddie Mac, the equity platform is a true synergy for the business. Merchants Bank has grown to nearly $10 billion in asset