NCSHA Blogs
Final Risk Retention Rule Contains Exemption for State HFA Program Loans
Yesterday, the Federal Deposit Insurance Corporation (FDIC) approved a final rule requiring asset-backed security issuers to retain part of the risk in any asset they securitize. The U.S Securities and Exchange Commission (SEC) approved the rule earlier today, while the Federal Reserve is expected to consider it later this afternoon. HUD, the Federal Housing Finance Agency (FHFA), and the Office of the Comptroller of the Currency (OCC) are expected to follow suit in the coming weeks.
Final Risk Retention Rule Contains Exemption for State HFA Program Loans
Yesterday, the Federal Deposit Insurance Corporation (FDIC) approved a final rule requiring asset-backed security issuers to retain part of the risk in any asset they securitize.
GAO Report Lays Out Framework for Considering Changes to Housing Finance System
Last week, the U.S. Government Accountability Office (GAO) released a report examining the government’s role in the housing finance market and identifying key issues for policymakers to consider when reforming the housing finance system. The agency released this report to help policymakers asses various housing finance reform proposals to ensure that any housing finance reform proposal they enact will effectively accomplish their goals.
HUD Posts Notice for Transferring HAP Contract Budget Authority
On October 9, HUD issued a notice outlining policies and procedures for transferring remaining budget authority of a project-based Section 8 Housing Assistance Payments (HAP) Contract under Section 8 (bb)(1) of the U.S. Housing Act of 1937.
HUD Publishes Section 811 and Section 202 Proposed Rule
HUD published in the October 7 Federal Register a Proposed Rule for implementing statutory reforms made to the Section 811 Housing for Persons with Disabilities and Section 202 Housing for the Elderly programs by the Frank Melville Supportive Housing Investment Act of 2010 and the Section 202 Supportive Housing for the Elderly Act of 2010, both of which were enacted on January 4, 2011.
HUD Releases Final FY 2015 FMRs, Announces Intention to Modify FMR Methodology for FY 2016
On October 3, HUD published final FY 2015 Fair Market Rents (FMRs). FMRs are used to determine payment standards for a number of housing assistance programs, including the Housing Choice Voucher and the project-based section 8 programs. The FY15 FMRs are effective as of October 1, 2014.
Supreme Court Agrees to Hear Texas Disparate Impact Fair Housing Case
On October 2, the Supreme Court announced its decision to take up the Texas Department of Housing and Community Affairs (TDHCA) v. Inclusive Communities Project case, which focuses on whether TDHCA violated the Fair Housing Act by disproportionately awarding Housing Credits to developers building properties in areas with high minority concentrations.
HUD Releases 2015 DDA and QCT Designations
On October 3, HUD issued a notice designating Difficult to Develop Areas (DDA) and Qualified Census Tracts (QCT) for 2015. Housing Credit properties developed in areas with a DDA or QCT designation are eligible to receive up to a 30 percent basis boost. 2015 is last year for which HUD will designate DDAs spanning entire metropolitan areas.
HUD Seeks Comments on Draft Fair Housing Assessment Tool for Entitlement Jurisdictions
HUD is poised to publish a solicitation for comments on a draft Assessment of Fair Housing (AFH) Tool that local governments administering HOME, CDBG, and various other HUD programs and Public Housing Authorities working in partnership with local governments would use to help them identify barriers to fair housing, set fair housing goals, and assure compliance with HUD’s soon to be finalized Affirmatively Furthering Fair Housing regulations.
