Entire 457 page bill text of HR 2112 is HERE.(HUD Section starts on page 355).
NLIHC has posted an additional table of comparisons of selected program funding levels HERE; it includes FY 2012 comparisons to FY 2010, FY 2011, and the FY 2012 President's requested budget.
Fixed Income PHA Income Re-certifications Can Move to a 3 Year Cycle. Contrary to what I said in yesterdays post the final bill does include a Section 236 [page 432] that has some PHA changes related to income eligibility. A key regulatory relief provision allows, subject to tenant self certification, 3 year income recerts for those with "fixed incomes". There are also changes to the definition of income limits for extremely low income families (it will be the higher of 30% of median family income or the poverty level). I am sure that industry groups and HUD will have more to follow on these and other eligibility changes in the coming days.
FHA mortgage limits are included in the bill [page 437], mortgage limits did NOT increase for Fannie and Freddie. Realtor PR is HERE.
