NCSHA Blogs
FHA to Stop Insuring Mortgages with PACE Assessments
The Federal Housing Administration (FHA) yesterday announced that it will no longer insure new mortgages on properties with Property Assessed Clean Energy (PACE) assessments.
Congress Approves FY 2018 Continuing Resolution Funding Programs Through December 22
The House approved the measure yesterday by a margin of 235-193, and the Senate approved it hours later by a margin of 81-14. The previous FY 2018 CR would have expired at midnight tonight.
FHA Announces Increased Single-Family Loan Limits for 2018
The Federal Housing Administration (FHA) earlier today announced the county loan limits for its single-family mortgage programs for 2018 and issued a Mortgagee Letter that increases the minimum loan limit for low-price areas and the maximum loan limit for high-cost areas.
FHFA Urges Market Participants to Prepare for Common Securitization Platform
The Federal Housing Finance Agency (FHFA) earlier this week released a report providing an update on its efforts to develop a common structure and Common Securitization Platform (CSP) for mortgage-backed securities (MBS) guaranteed and sold by the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The report calls on market participants to begin preparing for the transition to CSP, which FHFA says will be fully implemented in the second quarter of 2019.
Senate Passes Tax Reform Bill
In the early hours of the morning today, the Senate passed its tax reform legislation by a vote of 51-49, with all Democrats and Senator Bob Corker (R-TN) voting against the bill, and all other Republicans voting for it. As we expected, the final legislation retains both Private Activity Bonds and the Housing Credit.
Trump Taps Mulvaney to Run CFPB as Interim Director; Leadership Dispute Emerges
The White House announced last week that Mick Mulvaney, the Director of the Office of Management and Budget (OMB), will serve as acting Director of the Consumer Financial Protection Bureau (CFPB) until a permanent candidate is nominated and confirmed by the Senate. Mulvaney replaces Richard Cordray, who stepped down as CFPB Director on Friday.
Senators Release Text of Financial Regulatory Reform Bill
A bipartisan group of Senators, including Banking Committee Chair Mike Crapo (R-ID), released yesterday the text of draft legislation reforming various federal financial regulations.
Urban Institute Report Touts Importance of HFA Down Payment Assistance Programs
Down payment assistance programs offered by state HFAs and other state and local government entities are critical to supporting sustainable homeownership opportunities for low- and moderate-income consumers, according to a November 15 report from the Urban Institute’s Housing Finance Policy Center. The report, which examines barriers to homeownership, advocates that HFA and industry participants collaborate to better educate consumers about these programs.
FHFA Permits Fannie and Freddie to Again Invest in Housing Credit Market
The Federal Housing Finance Agency (FHFA) today announced that it will permit the Government-Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, to resume equity investments in the Low Income Housing Tax Credit (Housing Credit) market, with some limitations, effective immediately. The GSEs each will be able to invest up to $500 million annually in the Housing Credit; however, annual investments above $300 million must be made in markets identified by FHFA as having difficulty attracting investors.
