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By Georgia Kromrei, Law360

Banking regulators Tuesday approved a long-awaited regulatory overhaul of the Community Reinvestment Act, and although the federal anti-redlining statute was intended to correct past racist housing policies, the rule will not explicitly consider race in its assessment of bank lending practices.

By Kate Berry, American Banker

Benson F. "Buzz" Roberts (pictured), president and CEO of the National Association of Affordable Housing Lenders, will retire at the end of the year after a 45-year career in affordable housing and community development.

By Donna Kimura, Affordable Housing Finance

Benson “Buzz” Roberts, president and CEO of the National Association of Affordable Housing Lenders (NAAHL), has announced that he will retire at the end of the year.

The Buzz

Washington, DC – (October 13, 2023) Today, the National Association of Affordable Housing Lenders (NAAHL) announces the retirement of President and Chief Executive Officer Benson (Buzz) Roberts, effective December 31, 2023. Roberts will close his career after serving affordable housing and community development for over 45 years, including nearly eight years in his leadership role at NAAHL.

By Adolfo Flores, The Wall Street Journal

Texas has long had a reputation as an affordable place to live, in large part because homeownership stayed within reach for the middle class. Now the state is being walloped by the same forces that have made homes a lot less affordable in many cities previously known for reasonable prices: pandemic-era migration from California and other more expensive areas.

By Monica Hogan, Inside Mortgage Finance

A bipartisan group of House members last week reintroduced legislation that would offer tax incentives to support the creation or substantial rehabilitation of 500,000 starter homes in under-resourced communities over the next 10 years. The sponsors of H.R. 3940, the Neighborhood Homes Investment Act, are Reps. Mike Kelly, R-PA, and Mike Higgins, D-NY. Co-sponsors include Reps. Claudia Tenney, R-NY, Dan Kildee, D-MI, Randy Feenstra, R-IA, and Dwight Evans, D-PA.

By Andy Medici, The Business Journals

Developers and builders could benefit from a new $2 billion tax credit to renovate or build affordable housing under recently introduced federal legislation. The Neighborhood Homes Investment Act would create a tax credit to cover the value between the cost of buying and renovating or building a property in a low-income area and the sales price, potentially creating 500,000 affordable homes over the next 10 years.

By Patrick Sisson, The New York Times

Erika Velez considers herself lucky. A 31 year old single mother in San Antonio, she had been struggling to find a place to live since last June, when she fell behind on rent and spent months bouncing between sleeping on friends’ couches and in her car. Then in November she received a call that brought tears to her eyes: A two bedroom house at Mirasol Townhomes, a public housing development of townhouses and single family homes, had opened up for just $675 a month.

The Republic

Affordable homes and expanded opportunities for homeownership in Columbus, Franklin, Seymour, North Vernon and other communities around the state and nation could get a boost from bipartisan legislation in Congress that aims to spur investment in a housing market desperate for starter homes. A broad coalition of public and private sector groups and businesses from Habitat for Humanity and the Urban League to Rocket Mortgage and the National Association of Realtors have thrown their support behind the Neighborhood Homes Investment Act (NHIA), co-authored by Indiana Republican Sen. Todd Young and Sen. Ben Cardin, D-Maryland.

By Eric C. Peck, DSNews

Reps. Mike Kelly and Brian Higgins have introduced legislation to create a new tax incentive that would produce 500,000 starter homes in under-resourced communities over the next decade. The Neighborhood Homes Investment Act (H.R. 3940) would address the needs of families throughout the country who are struggling to purchase homes as costs continue to rise and the supply of homes remains limited.