NCSHA Blogs
Cordray to Leave CFPB by End of Month
Richard Cordray announced earlier today that he will step down as director of the Consumer Financial Protection Bureau (CFPB) by the end of this month. Cordray’s term was scheduled to end in mid-2018.
House Passes Legislation to Renew Flood Insurance Program
The U.S. House of Representatives yesterday passed legislation, the 21 Century Flood Reform Act, H.R. 2874, to reauthorize and reform the National Flood Insurance Program (NFIP). NFIP’s authorization is set to expire on December 9.
Senate Finance Committee Releases Modified Tax Reform Bill; House Prepares for Floor Tax Reform Action
Late last night, Senate Finance Committee Chairman Orrin Hatch (R-UT) released his Modified Chairman's Mark—the new version of the Senate tax reform legislation from which the Committee will work as it completes its mark-up this week. The Modified Chairman's Mark, like the previous version of the legislation, preserves the Low Income Housing Tax Credit and tax-exempt private activity bonds (PABs).
Ways and Means Committee Passes Tax Reform Bill; House Action Likely Later This Week
On November 9, the House Ways and Means Committee completed its mark-up of Chairman Brady's (R-TX) tax reform bill, the Tax Cuts and Jobs Act, H.R. 1, and reported the bill to the full House, which is expected to consider the bill this Thursday, November 16. The Committee did not adopt any amendments that would have changed the bill’s elimination of tax-exempt private activity bonds (PAB) or that would have modified the Low Income Housing Tax Credit statute, which the underlying bill also did not change.
Senate Finance Committee Begins Tax Reform Mark-Up
The Senate Finance Committee today began its mark-up of Chairman Orrin Hatch's (R-UT) tax reform legislation, called the Chairman’s Mark, this afternoon.
Senate Finance Committee Chairman’s Mark Preserves PABs, Housing Credit
The Senate Finance Committee just released its conceptual Chairman’s Mark, its version of tax reform legislation. In a major victory for NCSHA, it preserves both tax-exempt private activity bonds, including single-family and multifamily Housing Bonds, as well as the Low Income Housing Tax Credit.
House Republican Tax Reform Bill Eliminates Tax-Exempt PABs, Retains the Housing Credit Without Changes
House Republican leaders on November 2 released their tax reform bill, the Tax Cuts and Jobs Act, H.R. 1, in advance of a Committee mark-up scheduled to begin November 6 at 12:00 p.m. The bill eliminates tax-exempt private activity bonds (PABs), including both multifamily and single-family Housing Bonds, for bonds issued after 2017. In addition to eliminating tax-exempt PABs, the bill repeals the related Mortgage Credit Certificate (MCC) program.
FHFA Housing Report Finds that GSEs Met Most Affordable Housing Goals in 2016
According to the Federal Housing Finance Agency (FHFA) Annual Housing Report for 2017 released today, Freddie Mac met its 2016 affordable housing goals and Fannie Mae met its multifamily goals but had a mixed record on its single-family goals. The report covers all Fannie Mae’s and Freddie Mac’s (collectively, the Government-Sponsored Enterprises, or GSEs) affordable housing activities in 2016.
Senate Committee Considers Montgomery Nomination for FHA Commissioner
The Senate Banking Committee today held a hearing to consider President Trump’s nomination of Brian Montgomery to be Commissioner of the Federal Housing Administration (FHA) and HUD Assistant Secretary for Housing.
