Current single-family program rates as low as 3.500 percent. See
Homeownership for more info.
IHDA Loan Officer of the Month
Margie Catton
LoanOfficer
IHDA's Homeownership Department recognizes Margie Catton, Vice President and Mortgage Originator at Busey Bank in Peoria as its "Loan Officer of the Month." With more than 21 years of experience in mortgage lending, Margie has extensive knowledge of affordable mortgage products and programs as well as the hands-on experience to make her clients' experience as smooth possible. With the help of IHDA loans, she helps her customers find the mortgage that is right for them. Thanks, Margie!
IHDA Awards & Recognition
Lenders
With three months to go, Wintrust Mortgage has taken the lead as IHDA's top mortgage originator of 2014 with more than $44 million in funded loans. Wintrust narrowly beat out Busey Bank which held the lead in September.

Here are the top eight IHDA Lenders of 2014:
  1. Wintrust Mortgage
     
  2. Busey Bank
     
  3. Mortgage Services Ill, LLC.
     
  4. Inland Home Mortgage Co.
     
  5. Prospect Mortgage, LLC.
     
  6. Key Mortgage Services, Inc.
     
  7. Marine Bank
     
  8. Standard Bank & Trust Company
IHDA Upcoming Dates


UpcomingDates
2015 Qualified Allocation Plan Public Hearing
October 23
10:30 a.m.
IHDA Main Board Room
401 N. Michigan Ave.
Suite 700
Chicago, IL 60611

October 25
9 a.m. - 1 p.m.
Joliet Township High School - West Campus
401 N. Larkin Ave.
Joliet, IL 60435
 
2015 Qualified Allocation Plan Workshop & Market Analyst Meeting
November 12
10:30 a.m. - 1:30 p.m.
Lincoln Library
Carnegie Room North
326 S. 7th St.
Springfield, IL 62701

2015 Qualified Allocation Plan Workshop & Market Analyst Meeting
November 19
9 a.m. - 12 p.m.
IHDA Main Board Room
401 N. Michigan Ave.
Suite 700
Chicago, IL 60611
For more immediate updates, please join us on IHDA's Facebook page and follow us on Twitter:

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Governor Quinn Announces $200 Million Milestone for Welcome Home Heroes Program
 WHH
IHDA Program News
One day after Patriot Day, Governor Pat Quinn announced more than 1,600 Veterans, active military personnel, reservists and Illinois National Guard members have purchased homes with over $200 million in loans and down payment assistance through his Welcome Home Heroes program.

Returning Veterans and military families face unique challenges as a result of their service. Members of the armed forces are more likely to be financially overleveraged compared to civilians and tend to have greater amounts of credit card debt, making it difficult for many to meet the stricter credit and down payment requirements that lock many out of the market.

Visiting with Veterans and their families in Chicago, East Moline, Peoria and Carbondale, Governor Quinn thanked them for their service and encouraged military households across the state to take advantage of the Welcome Home Heroes program. With $10,000 in down payment assistance, a 30-year fixed-rate mortgage and a mortgage credit certificate that reduces the buyer's federal income tax liability by as much as $20,000 over the life of the loan, Welcome Home Heroes ensures Illinois' military families can overcome excessive housing costs to buy a home affordably and securely.
 
See the news release for more details and visit www.WelcomeHomeIllinois.gov for current interest rates and a list of local IHDA approved lenders.  
IHDA's Draft 2015 Qualified Allocation Plan is Available for Comments
 QAP
IHDA Program News
On Friday, October 3, IHDA released the Draft 2015 Qualified Allocation Plan (QAP) for review and public comments.

The annual QAP sets forth the criteria for evaluating all projects that apply for tax credit allocations. It will take effect upon approval from the IHDA Board and the governor.

Written comments are welcome and due by November 3 at 5 p.m. to the Multifamily Finance Department or [email protected]. IHDA encourages advocates to take advantage of this opportunity to suggest ways to resolve common problems, request clarifications, or make recommendations based on your experience that will increase the stock of affordable rental housing in Illinois. A public hearing for comments will be held at IHDA on October 23 at 10:30 a.m. Please note this hearing will be for comments only, IHDA will provide feedback during the QAP workshops at the conclusion of the 30-day comment period.

Question and answer sessions will take place at two QAP workshops held at the Springfield Public Library on November 12 and at IHDA's offices in Chicago on November 19. See the Upcoming Dates section for details and please contact Kathy Terry at [email protected] to register. 

IHDA's Strategic Planning and Research department will be available immediately following the two-hour QAP workshops to answer questions about IHDA standards for Site and Market Studies as well as recent changes and clarifications to these standards. This is an optional one-hour workshop that will only focus on the Site and Market Study standards.

See the Public Notice for more details.
The Grant at Woodlawn Park, courtesy of POAH
Affordable Housing Finance Names Two Illinois Developments Champions in the 2014 Readers' Choice Awards
 AHF
IHDA Awards & RecognitionIHDA would like to congratulate Preservation of Affordable Housing (POAH) on their selection as the overall champion and best Master-Planned/Mixed-Use development for The Grant at Woodlawn Park and Mercy Housing Lakefront with the National Housing Trust/Enterprise Preservation Corp. on their selection as the Preservation Champion for the Pullman Wheelworks Apartments in the 10th annual Affordable Housing Finance Readers' Choice Awards for the nation's best developments of 2013 and 2014. 
 
The winners will be honored at a ceremony on November 19 - 21 at the Fairmont Millennium Park in Chicago. They will also be featured in the November/December issue of Affordable Housing Finance.
 
Visit Affordable Housing Finance to read about the winners of all ten categories.
Single Family Lender Update
 FHLMC
IHDA Program News Effective October 1, 2014, IHDA's single family program will no longer accept any conventional loans run through Freddie Mac's Loan Prospector. This does not affect VA, FHA or RD/USDA loans; you can continue to use the Loan Prospector for those loans should you choose to do so.

If you have any questions, please call IHDA's Homeownership Department at (877) 456-2656.
$20 Million Available for RHS Preservation Demonstration Program
 RHS
IHDA Program NewsOn September 23, the Rural Housing Service issued a Notice of Funding Availability for the Multi-Family Housing Preservation and Revitalization Demonstration program to extend the affordability of existing Section 514, Section 515 and Section 516 rental properties.

Under the demonstration program, $20 million will be made available to restructure loans under these programs to ensure sufficient resources are available to preserve these rental developments as safe and affordable housing for very low-, low- or moderate-income residents. Properties participating in the program will be expected to preserve and extend their affordability without displacing tenants due to increased rents.
 
Pre-applications will be accepted until November 24, 2014 at 5 p.m. Eastern Time. Please see the NOFA for more information and contact Sherry Engel or Tiffany Tietz with any questions.
HUD Proposes Affirmatively Furthering Fair Housing Rule and Issues Guidance on Fair Housing Marketing Plans
 HUD
In July of 2013, HUD published a proposed Affirmatively Furthering Fair Housing Rule to provide HUD program participants with a revised process to plan for fair housing that will assist them in meeting their fair housing obligations. 

As a part of the proposed rule, HUD is seeking public comments on a draft Assessment of Fair Housing Tool designed to help states, local governments and public housing agencies evaluate fair housing choice in their jurisdictions, identify barriers to fair housing and set goals to overcome those barriers. Comments are due November 25, 2014 and will be integrated into the next version of the Assessment Tool which will be released for a second public comment period of 30 days.

HUD Deputy Assistant Secretary for Multifamily Housing Programs Ben Metcalf also issued a memo clarifying when property owners must submit updates to existing Affirmative Fair Housing Marketing Plans (AFHMP) to the Office of Fair Housing and Equal Opportunity. The clarification requires an AFHMP for developments new to multifamily assistance, those transitioning to Project-Based Rental Assistance through the Rental Assistance Demonstration program, and those adopting a residency preference in their admissions policies. 
MPC Roundtable - Planning for the Aging of Chicagoland's Communities
 MPC
The number of Americans aged 50 and over is expected to increase by 20 percent by 2030, and in just 15 years, one in five people will be at least 65 years old. Affordable, accessible and coordinated housing is essential for older adults to maintain quality of life, but the nation's existing housing stock is unprepared to meet these growing needs.

How can communities adapt to ensure our seniors can age in place? The solution is a comprehensive approach that encompasses transportation, housing, healthcare and public education. Join the Metropolitan Planning Council on October 23 in Chicago to learn how the Homes for a Changing Region planning process can help municipal officials, their staff and community residents plan their futures based on this demographic shift.

Visit MPC's Event Page for registration and more information.
Developers, Remember to Include IHDA When Planning Your Groundbreakings and Grand Openings
 Events
Every new development provides a valuable platform to reach out to the communities we serve and showcase the work we do. Not only are these events important milestones, but they help to establish new partnerships that lead to more support for new developments in the future.

Please contact Samantha Slawinski in IHDA's Marketing & Communications Department when you start planning for your next event. She will be able to help identify the best dates, times, speakers and media opportunities that make these events a success. 
 
We look forward to hearing from you!

IHDA New Developments
 
NewDevelopments
Congratulations to our public-private partners on the following groundbreakings and grand opening:

(October 8, 2014)
 
Hope Manor II Grand Opening - Volunteers of America of Illinois
(October 17, 2014)

Reclaiming Southwest Chicago Groundbreaking - Brinshore Development
(October 19, 2014)

IHDA In The News
InTheNews 
(October 4, 2014) Bloomington Pantagraph

(September 29, 2014) The Southern Illinoisan

(September 23, 2014) The MidWeek

(September 18, 2014) Elgin Courier News

(September 16, 2014) Jacksonville Journal Courier

(September 15, 2014) DNAinfo Chicago

(September 13, 2014) The Southern Illinoisan

(September 12, 2014) Peoria Public Radio

(September 12, 2014) WGEM

(September 9, 2014) The News-Gazette