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Factors that shape legacy IT Whether in the private or public sector, legacy modernization is challenging for organizations that have a long operating history reliant on in-house systems and applications. This impacts the priority status of legacy IT remediation efforts.
First, the implementation timeline is rather long, as key recommendations are significantly dependent upon Congress passing legislation – and it must be assumed that such passage will require, at a minimum, at least several years. I find these recommendations lacking for four main reasons.
Once-thriving middle-class neighborhoods with much history, shops, solid housing stock, and cultural treasures transitioned almost overnight into vacant and abandoned streets and retail strips. In 2006, the Ohio General Assembly passed this legislation. Ohio’s Traditional Land Bank Law.
After the COVID-19 pandemic severely affected the hotel industry in New York City, policymakers considered whether to promote the reuse of distressed hotel buildings as housing. In a new white paper , the NYU Furman Center’s Noah Kazis details essential background information on the matter of hotel-to-housing conversions.
Across the country, small and rural communities grapple with economic challenges and an aging housing stock that leads to similar outcomes: a flood of VAD properties that threaten the health, safety, and resilience of these residents. To account for these limitations, we’re seeing land banks step in as the property developer.
Introduction In November of last year, the Federal Housing Finance Agency (FHFA) published a report 1 (the Report) recommending reforms for the Federal Home Loan Bank (FHLB) System. the legislation establishing them). However, F&F launched a major lobbying effort and successfully defeated the legislation in Congress.
Projects relying on the 421-a completion extension in tandem with Mandatory Inclusionary Housing (MIH) are expected to deliver both more housing and deeper affordability to several neighborhoods across the city, according to a recent data analysis by the NYU Furman Center.
The bipartisan legislation, currently making its way through Congress, aims to reauthorize and strengthen the Technology Modernization Fund (TMF), which has enabled agencies to modernize legacy systems , enhance cybersecurity and improve service delivery to citizens, through 2031.
In 2023 so far, at least 27 states and territories have pursued more than 80 bills related to AI, including legislation to study, restrict or prohibit its use. And the overwhelmingly bipartisan law established a new working group charged with adopting a Connecticut-specific AI bill of rights based on a White House AI Bill of Rights blueprint.
A property tax exemption in New York City is necessary to make rental housing development financially feasible across the city’s varied markets, according to a new policy brief by the NYU Furman Center. A significant portion of New York City’s newly built housing has relied upon a 421-a exemption.
Introduction The Federal Home Loan Bank (FHLB) System 1 is a relatively unknown but important part of America’s housing and financial system, with over $1 trillion in assets. Today, agency MBS outstanding is about $9 trillion, two-thirds of all first-lien mortgage dollars, while bank-held mortgage loans only account for $2.6
Recently, Maine became the 13 th state , plus the District of Columbia, to adopt legislation guaranteeing paid family and medical leave for residents. And with a wave of interest in supporting workers’ rights, it won’t be the last state or territory to adopt universal paid leave legislation.
They can be very helpful: Using artificial intelligence (AI), ADM systems assist or replace human efforts to make potentially life-altering decisions related to public benefits, policing, housing, health care, immigration, education, emergency response, child welfare and other concerns.
Read our blog posts, “ Seating third parties at the risk table “ and “ How agencies can use enterprise risk management to implement new legislation ,” for recaps of the previous two working sessions in this series. Tracy Davis Bradley , executive director for the Office of Integrity and Compliance of the Veterans Health Administration.
Further, we’re seeing similar moves being made by other professional advisory and legislative bodies across the globe that are equally raising their expectations of organisations in deploying appropriate technical measures. The UK Telecommunications Security Act is a prime example.
Despite the existence of CEEFPA and additional tenant protections that include the COVID-19 Emergency Rental Assistance Program (“CERAP”) and the Tenant Safe Harbor Act , there was never a complete moratorium on eviction cases proceeding through the New York City Housing Court.
Introduction The United States is in the midst of a severe shortage of affordable housing for low-and-middle-income (LMI) families as both home prices and rents have climbed faster than household income for many years, particularly during the pandemic. with a much higher market share of 14 percent in rural geographies.
Manufactured housing (MH) has recently taken on a high profile among affordable housing advocates, including in the Biden administration. As a result, the search for ideas to increase the usage of MH has been building given the critical affordable housing shortage that has grown for many reasons over at least the last decade.
In addition to housing issues, many tenants have been left unemployed either temporarily or permanently due to damage or destruction of businesses. Such assistance is in part meant to deter further displacement and loss of housing following a natural disaster.
Introduction The high level of closing costs has been placed onto housing policy’s front burner by two recent events. This could significantly increase affordability, especially for FTHBs, and make housing transactions generally more cost-effective for both buyers and sellers. 3 In the modern era, U.S.
Comprehensive policies, processes, and in some cases legislation must be put in place to make sure it is protected. CDOs are also responsible data champions with accountability to executive leadership and all stakeholders of an organization’s data.
The average guarantee fee (G-fee) of Freddie Mac and Fannie Mae, the two government-sponsored enterprises (GSEs), who currently finance about half of the nearly $13 trillion of outstanding first-lien single-family mortgages in the country, 1 is among the most closely-watched numbers by housing finance policymakers and the mortgage lending industry.
Just as a shaky foundation undermines even the sturdiest house, flawed data diminishes the value of the most advanced algorithms. AWS continually monitors the evolving privacy regulatory and legislative landscape to identify changes and determine what tools our customers might need to meet their compliance needs. What’s next?
Introduction In April, the Federal Housing Finance Agency (FHFA) officially solicited public comment on a proposal from Freddie Mac, one of the two large government-sponsored enterprises (GSEs) it oversees, to begin a pilot program to finance closed-end second (CES) mortgages. It seems clear it would not.
It feels like this may be a good time for greater demand for accountability when it comes to economic development spending. Increasingly, governments – both in legislative and executive branches – are demanding evidence that new programs work before they fund them. Indeed, the federal government has been pushing for evidence.
In non-emergency situations, local government housing loans are authorized “only when the planning, construction, and financing of residential housing is not otherwise available to ‘persons and families of low income’” due to “the inability of private enterprise and investment, without assistance, to meet that need.” 29, 49, 50 (1970).
State and local policymakers around the country are working to address America’s severe housing shortage, by considering, and implementing, a wide range of policies in the hopes of increasing housing supply. These policies range from substantive revisions to zoning codes to procedural reforms to the land use approval process.
One proposal that two former chairs of the House Ways and Means Subcommittee on Social Security chose for a book would have a new screening system that would identify applicants who could continue to work if they received swift supports, e.g. , vocational rehabilitation, assistive technologies like a computer speaks what’s on the monitor.
The Federal Housing Finance Agency (FHFA), the regulator and conservator of Freddie Mac and Fannie Mae, the two government-sponsored enterprises (GSEs), has been very prominently in the news lately. The changes then became the subject of hearings and legislation in the Republican-controlled House of Representatives to reverse the changes.
Later, Majority Floor Leader Jim Stamas, R-Midland, determined Brown’s comments “violated the decorum of the House”, said Ari Adler, spokesman for the Republican majority. Image: Washington Post. Following the *audacity* that Rep. Brown used a biological, anatomical, even “medical” [gasp!]
Introduction Since the election of Donald Trump to his second term (Trump II) last November, the most debated topic in housing finance is whether and when his administration might take Fannie Mae and Freddie Mac (F&F) out of conservatorship. [1] An exit from conservatorship can occur through legislation or administrative means.
on Treasury and Federal Housing Finance Agency Action to Protect Financial Markets and Taxpayers” announcing that the GSEs had just been placed into conservatorship, in which he referenced “…the inherent conflict and flawed business model embedded in the GSE structure…” See [link]. Paulson, Jr.
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