Although financial performance of state housing finance agencies (HFAs) stabilized in fiscal 2010 and we expect similar results through 2011, future financial performance will show signs of stress over the next 12 to 18 months due to a set of factors that support our negative outlook on the HFA sector.
This table, from Tom Barthold's September 22 testimony before the Joint Select Committee on Deficit Reduction, shows the largest corporate tax expenditures for 2010-2014 and the largest individual tax expenditures for 2010-2014.
On September 19, Moody’s Investors Service released a comment on Treasury’s September 13 announcement that it intends to approve a three-year extension of the Temporary Credit and Liquidity Program (TCLP). The comment states, “The extension of TCLP is a significant credit positive for the 10 State Housing Finance Agencies that have TCLP facilities covering $6.66 billion of variable-rate demand bonds.”
Fitch Ratings published its 2011 State Housing Finance Agencies (HFAs) Statistical Report in August 2011. The report provides comparative financial statistics for HFAs using FY 2010 financial statement information for 50 HFAs.
On May 12, House Financial Services Committee members John Campbell (R-CA) and Gary Peters (D-MI) introduced the ‘‘Housing Finance Reform Act of 2011’’ (HFRA), H.R. 1859, which would wind down Fannie Mae and Freddie Mac and set up a system that allows new entities, called housing finance guaranty associations (HFGAs), to replace them. The following is a detailed summary of the legislation, provided by NCSHA.
List of frequently asked questions about HUD housing counseling in FY 2011. Provided in response to the program receiving zero funding in FY 2011 appropriations.
This Ernst & Young report, Understanding the Dynamics V: Housing Tax Credit Investment Performance, published in 2010, discusses operating performance of Housing Credit properties between 2000 and 2006.
On February 11, Treasury and HUD released the Obama Administration’s white paper on housing finance reform, “Reforming America’s Housing Finance Market: A Report To Congress.” The paper proposes several policies to gradually wind down the Government-Sponsored Enterprises Fannie Mae and Freddie Mac (the GSEs) and three major options for long-term secondary market reform.
