Targeting NSP Funds. Todd Richardson HUD Office of Policy Development and Research. Overview. Targeting Requirements in NSP HUD’s NSP Allocation Formula Statewide allocation Within-state allocations Local NSP Targeting Other Resources. Overview (2). WWW.HUD.GOV/NSP
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Targeting NSP Funds
HUD Office of Policy Development and Research
Model 18 Month Foreclosure Rate =
- (0.131 * Percent decline in home value)
+ (0.152 * Pct of loans high cost)
+ (0.392 * Pct unemployed in place or county)
Number foreclosures = model foreclosure rate * estimated number mortgages in jurisdiction (based on HMDA and ACS data)
With a pro-rata adjustment to match aggregate of model number of foreclosures and mortgages to statewide numbers.
(Statewide allocation - $19,600,000) *
Local model number foreclosure starts *
Statewide total number of foreclosure starts
Local vacancy rate in tracts with high rate high cost loans
Statewide vacancy rate in tracts with high rate high cost loans