• July 28, 2017
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    The House Financial Services Committee on July 25 unanimously voted to report the Municipal Finance Support Act of 2017, H.R. 1624, to the full House of Representatives for consideration. The legislation, introduced by Representative Luke Messer (R-IN), would allow large banks to count some of their municipal bond investments, including tax-exempt housing bonds, as high-quality liquid assets (HQLAs) under federal bank liquidity standards. NCSHA and several other state and local organizations supported the bill.

  • July 26, 2017
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    On July 25, the Senate Appropriations Subcommittee on Transportation and Housing and Urban Development (THUD) approved by voice vote its Fiscal Year (FY) 2018 funding bill. Though the bill is not yet publicly available, the Subcommittee’s press release says the bill fully funds Section 8 rental assistance and funds the HOME Investment Partnerships program (HOME) at $950 million, the same as its enacted FY 2017 funding level.

  • July 21, 2017
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    The Senate Banking Committee held a hearing July 18 to consider three Trump Administration nominees for key positions at the Department of Housing and Urban Development (HUD): Paul Compton, to be General Counsel; Anna Farias, to be Assistant Secretary for Fair Housing and Equal Opportunity; and Neal Rackleff, to be Assistant Secretary for Community Planning and Development.

  • July 19, 2017
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    On July 17, the House Appropriations Committee voted on party lines to pass the Fiscal Year (FY) 2018 Transportation, Housing, and Urban Development (THUD) funding bill. The bill provides $38.3 billion in total net discretionary spending on HUD programs, $483 million less than the FY 2017 enacted level.

  • July 18, 2017
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    During a hearing held today by the Senate Finance Committee to consider the nomination of David Kautter to become Assistant Secretary of the Treasury for Tax Policy, Kautter told Senator Maria Cantwell (D-WA) that “[I]t may be possible to make the Low Income Housing Tax Credit even more effective and efficient than it is today, and if confirmed, I look forward to working with you and your staff to accomplish this.”

  • July 13, 2017
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    The House Appropriations Subcommittee on Transportation, Housing, and Urban Development (THUD) on July 11 approved its Fiscal Year (FY) 2018 funding bill, which provides $38.3 billion in total net discretionary spending on HUD programs, $483 million less than the FY 2017 enacted level but $6.9 billion more than the Administration’s FY 2018 budget request. The bill includes $850 million for the HOME Investment Partnerships program, $100 million less than last year, but rejecting the Administration’s proposal to eliminate funding for it.

  • July 10, 2017
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    The Consumer Financial Protection Bureau (CFPB) late last week released a final rule that implements several NCSHA-requested changes to its TILA-RESPA Integrated Disclosure Rule (TRID), including two provisions that will make it easier for lenders to participate in HFA down payment assistance programs by exempting more such programs from onerous and complicated disclosure requirements.

  • July 7, 2017
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    The Senate Banking Committee held a hearing June 29 titled “Principles of Housing Finance Reform” to examine goals for housing finance reform legislation and priorities for any new or revised housing finance system. The hearing included testimony from leading industry experts representing the Mortgage Bankers Association, the Financial Services Roundtable, and the Center for Responsible Lending.

  • July 6, 2017
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    HUD announced today the recipients of just over $47 million in Housing Counseling program grants for fiscal year (FY) 2017. The funding will go to 255 different housing counseling agencies, including 29 state HFAs, who combined will receive just over $7.8 million in grants. HUD also released a list of counseling agencies that were awarded funding and a comprehensive summary of each grant award.

  • June 30, 2017
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    On June 28, the House Appropriations Agriculture and Rural Development Subcommittee approved by voice vote its Fiscal Year (FY) 2018 funding bill, which provides funding for the Department of Agriculture’s (USDA) rural housing programs.