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NCSHA Calls on HUD to Provide Regulatory Relief for HOME, HTF, and ESG Programs

NCSHA, on March 30, sent a letter to the U.S. Department of Housing and Urban Development urging the department to waive certain program rules, extend deadlines, and make other accommodations for Community Planning and Development programs necessary to help grantees address housing needs resulting from the COVID-19 pandemic. Our recommendations focus on the HOME Investment Partnerships Program, the Housing Trust Fund, and Emergency Solutions Grants.

NCSHA Washington Report | March 27, 2020

Congress’ historic, admirable, and necessary work this week to inject $6.5 trillion or more into the U.S. economy is widely labeled “economic stimulus,” but a few Politico reporters argue...

Housing Assistance Fund Concept Has Congressional Backers in Both Chambers

While it was not included in the third coronavirus relief legislative package currently moving through Congress, support is growing for the creation of a Housing Assistance Fund that would provide resources to state HFAs to help them assist struggling homeowners avoid home mortgage default and foreclosure. NCSHA has been working with Senators Sherrod Brown (D-OH) and Jack Reed (D-RI), who has been taking the lead in advancing the idea in the Senate.

NCSHA Summary of Coronavirus Relief Legislation

The Senate passed unanimously late March 25 the Coronavirus Aid, Relief, and Economic Security (CARES) Act, after reaching agreement among Democratic, Republican, and White House negotiators. The...

NCSHA Urges IRS, Treasury to Establish Emergency Measures Related to Housing Credit Administration During COVID-19 Pandemic

NCSHA, on March 23, sent the Internal Revenue Service and U.S. Department of the Treasury a letter urging them to take immediate action to provide necessary accommodations for the Low Income Housing Tax Credit program due to the COVID-19 pandemic. These measures are essential as social distancing, which is critical to safeguarding the health of Housing Credit residents and those who work in the industry, is resulting in severe disruptions to Housing Credit production and ongoing property operations.

Housing Agency Urges North Dakotans to Talk to Your Mortgage Servicer or Landlord First; Don’t Become a Victim of a Financial Scam

NDHFA is encouraging households facing financial difficulties because of the Coronavirus (COVID-19) to notify their mortgage loan servicer or landlord if they are unable to make their mortgage or rent payment. “Our loan servicing department has fielded multiple calls and emails from individuals and families who are facing financial difficulties because of virus-related shutdowns,” said Dave Flohr, NDHFA interim executive director. “We want our borrowers to keep calling us. Now is the time to talk to the people you can trust.”

FHFA Authorizes the Enterprises to Support Additional Liquidity in the Secondary Mortgage Market

​Washington, D.C.– Today, to help support immediate needs for liquidity in the secondary mortgage market, the Federal Housing Finance Agency (FHFA) has authorized Fannie Mae and Freddie Mac (the...

Fed Announces Unlimited Bond Purchases in Unprecedented Move to Help U.S. Economy Weather Coronavirus Meltdown

The Federal Reserve announced Monday an unlimited expansion of bond purchasing programs to backstop the U.S. economy, as millions of American households and businesses are getting crushed by the...

Federal Reserve, FHFA Provide More Liquidity to Ailing Markets

On Monday morning, March 23, the Federal Reserve announced a number of significant moves to provide liquidity to U.S. markets. The Federal Open Market Committee will purchase Treasury securities and agency mortgage-backed securities in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.

Regulators issue more guidance on banks’ pandemic response

WASHINGTON — Federal banking regulators took a series of steps Thursday to further guide banks in supporting customers, small businesses and communities in the midst of the coronavirus...

Racing to Head Off Evictions and Foreclosures

The financial shock from the coronavirus pandemic threatens the housing security of millions of Americans, prompting federal, state and local officials — and even judges and the police — to move...

NCSHA Washington Report | March 20, 2020

The unprecedented global COVID-19 pandemic that has become an unprecedented national emergency may ultimately affect affordable housing needs and systems in more profound ways than the financial...