Additional Baseline Information Housing Program Tutorial May 14, 2001

1. Millennial Housing Commission Additional Baseline InformationHousing Program TutorialMay 14, 2001

2. Off Market 5,292,000 Other Vacant* 4,201,000 For Rent Vacant 2,970,000 Renter Occupied 34,587,000 Owner Occupied 71,906,000 The Nation’s Housing For Sale Vacant 1,188,000 Total Housing Stock: 120,144,000 units Source: See Table I

3. History of Eligible Units Source: See Table II

4. Beneficiary Characteristics—Tenants Tenant Race by Program Source: See Table III

5. Beneficiary Characteristics—Tenants Hispanic Origin by Program Source: See Table IV

6. Beneficiary Characteristics—Tenants Source: See Table V

7. Other Housing Related Programs • DOE Weatherization Assistance Program • State block grants, started in 1976. Has served 5 million households. • Returns $2.10 in energy savings for every $1 spent. • FY 2001--$153 million • FY 2002 (proposed)--$273 million, estimated 120,000 households served. • HHSTemporary Assistance for Needy Families (TANF) • Flexibility of PRWORA allows funds to be used for housing assistance. Federal funds and state MOE monies may both be used. • Six states and two California counties have TANF-funded housing programs. • Limits on duration and eligibility to control costs. Varies by program.

8. Funds for Special Populations • Homeless-McKinney Act • Native Americans-NAHASDA • Disability/Elderly-Section 202/811 • AIDS-HOPWA

9. Fair Housing, Equal Credit, and Consumer Protections • Fair Housing Act (1968) • Prohibits discrimination in housing based on race, origin, religion sex, family status or disability. • Violations—Submit a Housing Discrimination Complaint Form to HUD. • Truth in Lending Act (Regulation Z) (1968) • Promote the informed use of consumer credit by requiring disclosures of terms and costs. • Regulates information required in advertisements as well as disclosure requirements, especially on variable rate credit. • Regulated by the Federal Reserve Board • Equal Credit Opportunity Act (ECOA) (1974) • Equal chance to obtain credit. Creditors may not discourage from applying or make a decision based on sex, race marital status religion or source of income. • Violations-- Justice Department or the proper regulatory agency.

10. Fair Housing, Equal Credit, and Consumer Protections • Real Estate Settlement Protection Act (RESPA) (1974) • Requires the disclosure of costs and obligations in settlement services. • Tries to eliminate unnecessary costs in settlement services. • Rules apply before during and after settlement process • Violations—Report to the Office of Consumer and Regulatory Affairs at HUD. • Home Ownership and Equity Protection Act (HOEPA) (1994) • Amendment to the Truth in Lending Act. • Provides special protections to consumers entering into high-cost mortgages (APR exceeds Treasury rate by more than 10%, or fees more than 8% of loan amount.) • Restricts some loan terms associated with abusive lending practices (short-term balloon notes, prepayment penalties, higher interest rates upon default and non-amortizing payment schedules). • Regulated by the Federal Reserve Board.

11. Fair Housing, Equal Credit, and Consumer Protections • Community Reinvestment Act (CRA)—(1977) • Encourage federally insured lending institutions to meet credit needs of low and moderate-income residents. • Institutions are evaluated for their performance using the CRA, no set performance standards. Can be fulfilled with direct loans, community investment, etc. • Monitored by appropriate oversight agency (FDIC, FRB, OCC or OTS)