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Affirmatively furthering fair housing in REO-to-Rental programs
The REO-to-Rental program is particularly intriguing from a fair housing perspective. In January 2012, the Federal Housing Finance Agency (FHFA) launched its REO-to-Rental program, which converts pools of foreclosed REO properties held by the government-sponsored enterprises into affordable rental properties. Fair housing advocates viewed this program as a new opportunity for affordable rental properties in less-segregated, low-poverty communities?that is, until they discovered that the FHFA and the Department of the Treasury had made no effort to conform the new program to the requirements of the federal Fair Housing Act. This article discusses how the federal agencies responsible for the REO-to-Rental program can take advantage of this opportunity in the future, even if it has so far eluded them.
AUTHORS: Glauber , Diane; Tegeler, Philip
Leveraging the power of place: using pay for success to support housing mobility
Families who use housing vouchers to move from areas of concentrated poverty to better-resourced neighborhoods have been shown to experience higher earnings and improved health. Housing mobility programs increase the effectiveness of housing vouchers by providing education and support to voucher holders facing barriers to such ?opportunity? moves. This working paper proposes using a Pay for Success financing mechanism to increase investment in housing mobility programs based on the hypothesis that health care savings stemming from a positive mobility outcome?specifically related to diabetes and obesity? are sufficient to pay the entire cost of the mobility program. The authors draw on a unique dataset and use a dose-response model to produce four potential health savings scenarios that vary the expected effect timing (when health actually improves). Even the most conservative scenario generates sufficient projected health care cost savings to pay for the housing mobility program?s costs within a ten-year timeframe.
AUTHORS: Cunningham, Mary; Tegeler, Philip; Pollack, Craig; Rinzler, Dan