MassHousing Update, September 2018
FY’19 Lending Off to a Strong Start
With a few days remaining in the first quarter of the 2019 fiscal year, MassHousing has closed more than $456.8 million in financing to create or preserve affordable housing opportunities for 2,590 Massachusetts households. 

MassHousing's 2019 fiscal year runs from July 1, 2018 to June 30, 2019. 

Driven by the Agency's new down payment assistance program, homeownership lending to date is $256.3 million for 1,411 loans to help Massachusetts residents purchase, refinance or repair their homes. In addition, MassHousing has insured 74 affordable, non-MassHousing loans for $16 million. By using MassHousing’s insurance, those homebuyers benefit from the protection of MassHousing's MI Plus, which helps them repay their mortgage in case of job loss. 

MassHousing has also closed $184.4 million to preserve affordability and support improvements at six apartment communities with 1,105 rental housing units. A number of other rental transactions are expected to close before the end of calendar year 2018. 
Meet New Homeowners Maryann Sadowski and Matt Oneil

"I would suggest Operation Welcome Home to anyone who qualifies. It was so easy. Everything went so smoothly."
Army Veteran Maryann Sadowski and Matt Oneil purchased their home in South Hadley using an Operation Welcome Home loan from MassHousing.

Construction Update
MassHousing financing is helping to create and improve affordable rental housing across the Commonwealth.

MassHousing’s Diversity & Inclusion Division is currently monitoring the progress of 14 active construction projects, working with developers and general contractors to achieve goals for participation by minority and women-owned firms.

In August 2018, the 14 construction projects being monitored received a total of $171.2 million in MassHousing financing. Of those contracts, $40 million went to minority-owned subcontractors and $11.3 million to women-owned firms.

A total of 505,274 hours were worked at the projects in August, 241,958 of which were completed by minorities and 9,632 by women. 
MassHousing, CHAPA Sponsoring Discussion on Innovative, Cost-Saving Techniques for Building Rental Housing
On October 24, MassHousing will host a panel discussion in partnership with CHAPA, where innovators and construction professionals will share the latest advances in modular construction, prefabricated components and other advances and cost-saving methods for building rental housing.

The event begins at 9:30 a.m. and registration is required.  Learn more and register for the event today!
Resources Available: Older Adults in Community
Housing and social service professionals can now access a number of resources to help them better serve older adults. The presentations, links and other items were collected as part of MassHousing’s 2018 Community Services Conference, Older Adults in Community, which was held in June 2018 in partnership with the Mass. Executive Office of Elder Affairs.

Fall Trainings Equip Rental Housing Pros with Information, Resources
The Fall slate of MassHousing’s TAP Management Trainings help rental housing and social service professionals better serve residents and more effectively address new challenges and opportunities.

Trainings cover a variety of topics, including social bullying, domestic violence, reasonable accommodations and community building. This season’s schedule includes seven new trainings.

Financing a fixer-upper: MassHousing Mortgage can provide funds to purchase and upgrade
Massachusetts has a sizable number of older homes, and plenty of properties that could be characterized as fixer-uppers. But homebuyers are sometimes left wondering how to finance a home in need of some upgrades at the time of purchase.

A solution could be a MassHousing Mortgage. Qualified buyers can borrow funds for both the purchase of the home as well as upgrades to the property.

If you or someone you know has their eye on a fixer-upper, contact a MassHousing-approved lender (lenders offering the MassHousing Mortgage with additional financing for renovations are marked with an *). 
Chrystal Kornegay Addresses Housing Supporters at YIMBYtown
From left: A Better Cambridge founder and YIMBYtown organizer Jesse Kanson-Benanev; Mass. Assoc. of Community Development Corporations President and CEO Joe Kriesberg; conference organizer Beyazmin Jimenez; Madison Park CDC Vice President of Programs Leslie Reid; MassHousing Executive Director Chrystal Kornegay; and Democracy Collaborative Senior Researcher Jarrid Green

MassHousing Executive Director Chrystal Kornegay spoke to a crowd of affordable housing supporters at “ YIMBYtown 2018” on September 21 at Roxbury Community College. The YIMBY (Yes in My Backyard, as opposed to NIMBY, Not in My Backyard) movement supports the creation of more housing and has gained popularity across the country. The event was described by organizers as “a three-day gathering for grassroots community organizers, political leaders, educators, and everyday people to identify problems, create solutions, share resources on the issues that impact housing on local, state, and national levels.”
MassHousing Launches New Investor Relations Website
A new investor relations website,, will help MassHousing better market its bonds, attract investors and increase transparency.

Because MassHousing does not use taxpayer dollars, the Agency sells bonds to investors, the proceeds of which are used to support affordable multifamily and homeownership lending. Launched earlier this month, makes it easier for investors to access information about MassHousing, its bond programs and its overall performance.

“Live Worcester” Launched to Promote Homebuying in Commonwealth’s Second Largest City
From left: Rocco Leone and Oneida Fuentes (MassHousing); James Brooks (City of Worcester); Lisa Fiandaca (MassHousing); and Janiese Diaz (NeighborWorks of Central Massachusetts)

On September 20 at the Fidelity Bank Worcester Ice Center, MassHousing joined Worcester leaders, lenders and Realtors® for the launch of “Live Worcester,” a collaborative effort to promote homebuying in the city.  
By working with participating Realtors®, homebuyers may be eligible for discounts if they buy in Worcester. Live Worcester leaders have developed a website, , and are finalizing a down payment assistance program for Worcester city employees.