NCSHA Blogs
NCSHA Identifies Increasing Commitment to Affordable Housing Investment Among Opportunity Funds
Nearly two-thirds of Qualified Opportunity Funds plan to invest in affordable housing and community development in Opportunity Zones, according to the latest edition of NCSHA’s Opportunity Zone Fund Directory, released today. A total of 196 funds representing nearly $45 billion in anticipated investment ― including 17 new funds ― are listed in this edition. Sixty-four percent (126) of the funds plan to invest in affordable or workforce housing or community revitalization. One year ago, just 22 of the 53 funds in the directory (42 percent) planned investment in this sector.
Montgomery Nomination Confirmed by Senate Committee
The Senate Committee on Banking, Housing, and Urban Affairs confirmed Brian Montgomery’s nomination to become Deputy Secretary of HUD earlier today. The committee approved Montgomery, who is HUD Assistant Secretary for Housing and FHA Commissioner and currently also serving as Acting Deputy Secretary, by a voice vote of 20–5.
FHA Announces Increased Single-Family Loan Limits for 2020
The Federal Housing Administration yesterday announced the county loan limits for its single-family mortgage insurance programs for 2020 and issued a Mortgagee Letter that increases the minimum loan limit for low-cost areas and the maximum loan limit for high-cost areas.
CohnReznick Finds Housing Credit Equity Investment Hit Record High in 2018
CohnReznick's Tax Credit Investment Services team has released its 2019 Housing Tax Credit Investments: Investment and Operational Performance report, with updated data on Housing Credit performance based on its survey of syndicators and direct investors, covering 21,000 Housing Credit properties.
FHA Report Finds Mortgage Insurance Fund Improved Substantially; Concerns Remain about DPA
The economic value of the Federal Housing Administration’s Mutual Mortgage Insurance Fund showed strong growth in FY 2019, according to FHA’s 2019 Report to Congress.
IRS Releases 2020 Housing Credit and Private Activity Bond Volume Cap Levels
Today, the Internal Revenue Service published Rev. Proc 2019-44, which provides the per capita and small state minimum levels for the Low Income Housing Tax Credit (Housing Credit) and Private Activity Bonds (PAB). In 2020, states will receive the greater of $2.81 per capita or $3,217,500 in Housing Credit authority, slight increases over the 2019 Housing Credit authority levels of $2.76 per capita or $3,166,875. The per capita PAB volume cap will be $105 per capita, the same amount as in 2019, but the small state minimum for PAB volume cap will increase to $321,775,000 from $316,745,000.
NCSHA Recommends Improvements to IRS Housing Credit Disaster Relief Guidance (Notice 2019-52)
On October 31, NCSHA sent comments to IRS on how it can improve Low Income Housing Tax Credit (Housing Credit) disaster relief guidance provided in Revenue Procedures 2014-49 and 2014-50.
FHFA Reports GSEs Met 2018 Affordable Housing Goals and Duty-to-Serve Requirements
According to a report released today by the Federal Housing Finance Agency (FHFA), the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac in 2018 met all their affordable housing goals and their obligations under the Enterprise Duty-to-Serve Rule. The report, which FHFA submits to Congress each year, summarizes the GSEs’ 2018 affordable housing activities.
New FHFA Strategic Plan and Scorecard Lay Path for GSEs to Exit Conservatorship, Support Administration Reform Plan
The government-sponsored enterprises Fannie Mae and Freddie Mac will be expected to prepare for a responsible end to their conservatorships and to help to implement the Trump Administration’s housing finance reform proposals under the Federal Housing Finance Agency’s newly-released Strategic Plan for 2019 and Enterprise Scorecard for 2020
