Housing and Community Development Act of 1987

Housing and Community Development Act of 1987 - Title I: Community and Neighborhood Development - Amends the Housing and Community Development Act of 1974 to authorize appropriations through FY 1990 for community development block grants and the discretionary fund.

Provides for the temporary retention of: (1) metropolitan city status by a city that no longer so qualifies; and (2) urban county status by a county with a declining population.

Repeals title VIII (Livable Cities) of such Act.

Authorizes appropriations through FY 1989 for the urban homesteading program.

Title II: Housing Assistance Programs - Part A: General - Amends the United States Housing Act of 1937 to authorize appropriations through FY 1989 for lower income housing.

Authorizes the Secretary of Housing and Urban Development to require Department of Housing and Urban Development (HUD) applicants or participants to provide social security or employer identification numbers in order to verify housing eligibility.

Provides HUD with access to State wage or unemployment compensation records. Limits the use of such information to housing eligibility purposes. Imposes a criminal penalty for the wrongful request or disclosure of such information. Authorizes a related private right of action.

Part B: Public and Indian Housing - Amends the United States Housing Act of 1937 to revise the comprehensive improvement assistance program. (Renames such program the comprehensive grant program.) Requires public housing agencies (PHAs) to submit to the Secretary a comprehensive plan which shall include a five-year work plan. Requires PHAs to submit additionally a one-year work plan for each fiscal year. Authorizes appropriations through FY 1990.

Declares that future public housing laws shall not apply to Indian housing unless explicitly stated.

Part C: Other Assisted Housing - Amends the Housing Act of 1959 to repeal the interest rate cap on elderly or handicapped housing loans. Increases such loans' escrow requirement.

Amends the Housing and Community Development Amendments of 1978 to authorize permanent appropriations for troubled projects assistance.

Amends the Housing Act of 1937 to repeal the operating-cost limitation on contract rent adjustments for certain section 8 projects.

Sets forth conditions for certificate program rent either above or below existing fair market rental limitations.

Amends the National Housing Act to set forth maximum rent criteria under the rental and cooperative housing for lower income families program.

Title III: Program Amendments and Extensions - Part A: FHA - Amends the National Housing Act to extend authority through FY 1988 for: (1) title I financial institution insurance for housing renovation and modernization; (2) general mortgage insurance; (3) low and moderate income and displaced families mortgage insurance; (4) mortgage co-insurance, including rental rehabilitation and development projects; and (5) graduated payment and indexed mortgage insurance.

Sets forth title I loan premium charge provisions, including surcharge authority.

Increases the Secretary's mortgage insurance premium authority.

Revises the definition of "veteran" for certain mortgage insurance purposes.

Requires that in order to insure or maintain mortgage insurance, a single family dwelling must be the principal residence of the original or subsequent purchasers.

Authorizes the Secretary to insure operating loss loans for certain projects.

Repeals coinsurance authority under such Act.

Transfers mortgage insurance programs for Hawaiian homelands and Indian lands from the Mutual Mortgage Insurance Fund to the General Insurance Fund of the Treasury.

Civil Recovery Double Damages Act - Provides a double damages remedy for the unauthorized use of multifamily housing project assets and income.

Amends the Housing and Community Development Act of 1977 to repeal the requirement that HUD prepare annual prototype housing costs.

Part B: Other Programs - Amends the Housing and Urban Development Act of 1970 to authorize appropriations through FY 1989 for housing research.

Authorizes a fair housing initiatives program.

Amends the National Housing Act to authorize the Secretary to impose civil penalties on mortgagees or lenders for specified mortgage-related violations. Authorizes judicial review of penalty determinations.

Amends the National Manufactured Housing Construction and Safety Standards Act of 1974 to authorize manufactured home fees. Amends the definition of manufactured home.

Amends the Interstate Land Sales Full Disclosure Act to eliminate the maximum fee limitation for interstate land sales registration.

Title IV: Rental Rehabilitation and Development Grants - Amends the United States Housing Act of 1937 to authorize FY 1988 and 1989 appropriations (with specified amounts for technical assistance) for a revised rental rehabilitation and housing development grant program.