NeighborWorks Capital funded a $425,000 stabilization loan with NeighborWorks Blackstone River Valley (NWBRV) in October 2020. This stabilization loan will be used to bridge the receipt of reimbursement from development (infrastructure and acquisition) financing for Phase 4 of Fernwood, a 30-home self-help development in Burriville, Rhode Island, that has been delayed in starting due to the impacts of COVID-19. The start date of Phase 4 has been pushed back to the first half of 2021, after the third phase was delayed by six months in 2020 due to COVID-19.
Final FHFA Rule on Racial Equity, Language Access, and Fair Lending Oversight Will Aid Underserved Communities
A coalition of affordable housing and civil rights organizations applaud an announcement from the Federal Housing Finance Agency (FHFA) finalizing a rule on fair housing, fair lending, and equitable housing finance (EHF). The FHFA’s new rule on EHF plans will provide greater market access to underserved communities.