	Introduction

During the first session of the 111 th Congress, the economy officially exited its recent recession. However, the economy and housing markets across the country continued to feel the effects of an economic downturn that featured the largest decline in output, consumption, and investment and the largest increase in unemployment of any post-World War II recession. The downturn was, in part, both a cause and a result of issues in the housing finance system and troubles in housing markets. 110-289 ), which included the authority for the federal government to place the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, into conservatorship (authority that the government promptly exercised). At the same time, the 111 th Congress faced perennial questions about how best to meet the affordable housing needs of low-income and vulnerable populations and whether to make changes to the programs that comprise today's federal affordable housing system, particularly in light of rising budget deficits. This report provides a brief summary of major housing issues that were considered in the 111 th Congress. The housing GSEs have played a major role in U.S. housing markets. The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act, P.L. The 111 th Congress enacted a number of laws that included provisions related to foreclosure mitigation. The 111 th Congress also enacted a number of foreclosure-related provisions in the Dodd-Frank Act ( P.L. The 111 th Congress also provided additional funding for two other programs that had been established during the 110 th Congress: the National Foreclosure Mitigation Counseling Program (NFMCP), which received appropriations in both the FY2009 and FY2010 Housing and Urban Development (HUD) appropriations acts, and the Neighborhood Stabilization Program (NSP), which received additional funding in both the American Recovery and Reinvestment Act (ARRA, P.L. The 111 th Congress included a number of changes to mortgage origination standards and practices in its comprehensive financial reform legislation, the Dodd-Frank Act ( P.L. 111-203 ). However, the 111 th Congress did not enact legislation addressing these potential risks. Housing for Low-Income Individuals and Families

		Appropriations for the Department of Housing and Urban Development

The majority of housing assistance programs for low-income individuals and families are funded through discretionary appropriations provided to HUD's budget in the annual appropriations process. 111-5 ), aimed at stimulating the economy. Homelessness Assistance and Prevention

Government assistance for housing for homeless individuals and families is provided primarily through the HUD Homeless Assistance Grants. In addition to P.L. 111-374 instituted are converting the source of funding for Section 811 tenant-based rental assistance to the Section 8 program; allowing Section 811 rental assistance to be used in conjunction with sources of financing other than Section 811 capital grants, including funds through the LIHTC and HOME program; decreasing the concentration of housing units for persons with disabilities by limiting the units in multifamily housing dedicated to persons with disabilities to 25% of the total (due to the need to finance the remaining 75% of units, this limitation could also encourage developers to use other funding sources to supplement the Section 811 funding); and delegating the processing of mixed finance developments to state housing finance agencies. 2847 ) were passed by the House. 4868 was not enacted before the end of the 111 th Congress. Housing Legislation in the 111th Congress

The following list presents legislation relating to housing and community development considered by the 111 th Congress. Legislation focuses primarily on the programs of the Department of Housing and Urban Development, the Rural Housing Service of the Department of Agriculture, and issues relating to housing finance and tax.
Housing issues related to the recent turmoil in U.S. housing markets, as well as perennial issues related to the housing needs of low-income individuals and families, were prominent in the 111th Congress. The recent recession that was, in part, both a cause and a result of issues in the housing finance system put legislation designed to address current foreclosures and prevent a future crisis on the congressional agenda. At the same time, the 111th Congress faced questions about how best to meet the affordable housing needs of low-income and vulnerable populations, particularly as unemployment climbed and the economy worsened. While the recession officially ended during the first session of the 111th Congress, housing markets in many parts of the country continued to experience the effects of an economic downturn. The 111th Congress considered a number of measures to shore up housing markets and to address issues related to both housing finance and housing assistance for low-income populations. While a number of measures were enacted, other issues were left unresolved at the end of the 111th Congress.
This report summarizes housing issues that were considered in the 111th Congress. The report divides issues into three main sections: "Housing Finance and Homeownership," "Housing for Low-Income Individuals and Families," and "Other Issues."
Within the realm of housing finance and homeownership, the 111th Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act, P.L. 111-203). While not exclusively focused on housing, the Dodd-Frank Act did include foreclosure prevention-related provisions and changes to mortgage origination standards and practices. Notably absent from the Dodd-Frank Act were changes to the way in which the Government Sponsored Enterprises (GSEs)—Fannie Mae and Freddie Mac—are structured and their role in the mortgage market, although the 111th Congress did feature discussions regarding reform of the GSEs. The 111th Congress also enacted tax provisions meant to bolster housing markets by providing a tax credit for first-time homebuyers. Foreclosure issues and FHA reform were other issues considered by the 111th Congress.
Congress also enacted laws that made changes to existing programs that provide housing assistance to low-income individuals and families. The Homeless Assistance Grants, administered by the Department of Housing and Urban Development (HUD) were amended to give communities greater flexibility in providing housing and services to homeless individuals (P.L. 111-22). The programs that fund housing for low-income seniors and individuals with disabilities (Section 202 and Section 811, respectively) also were changed to allow greater integration of funding from non-HUD sources in housing developments (P.L. 111-372 and P.L. 111-374). The 111th Congress also considered legislation related to housing assistance programs that was not ultimately enacted, including reform to HUD's largest assistance programs: public housing and the Section 8 Housing Choice Voucher program.
In addition to these activities, the 111th Congress enacted the American Recovery and Reinvestment Act (P.L. 111-5). This legislation, aimed at stimulating the economy, provided additional appropriations to several HUD programs.