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NCSHA Documents Steady Increase in Affordable Housing Investment Among Opportunity Zone Funds

Nearly 60 percent of currently established Opportunity Funds plan to invest in affordable and workforce housing or community revitalization, according to NCSHA’s latest Opportunity Zone Fund Directory. This focus is up from approximately 40 percent late last year. 

Senate Confirms Calabria as FHFA Director

The U.S. Senate earlier today voted to approve Mark Calabria’s nomination to serve as director of the Federal Housing Finance Agency (FHFA)

NCSHA Statement on IRS Clarification That Housing for Special Populations Does Not Violate Multifamily Bond Public Use Rules

The National Council of State Housing Agencies applauds the Internal Revenue Service and U.S. Department of the Treasury for issuing guidance today stating affordable rental housing that provides...

President Directs Treasury and HUD to Develop Housing Finance Reform Plans

President Trump earlier today issued a memorandum ordering relevant federal agencies to develop proposals for reforming various aspects of the housing finance system.  Specifically, the executive memorandum directs Treasury to develop a plan for removing the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac from conservatorship and HUD to suggest changes to the housing finance programs supported through the Federal Housing Administration (FHA) and Ginnie Mae.

Banking Committee Holds First GSE Reform Hearing

The Senate Banking Committee yesterday held the first of two scheduled hearings to examine Committee Chair Mike Crapo’s (R-ID) previously released outline for reforming the government-sponsored enterprises, Fannie Mae and Freddie Mac. 

IRS Publishes New MRB and MCC Purchase Price Limits and Safe Harbors

The Internal Revenue Service yesterday published Revenue Procedure 2019-14, which revises the nationwide average purchase price limits and the average area purchase price safe harbors for the Mortgage Revenue Bond and Mortgage Credit Certificate programs.

Trump Administration’s FY 2020 Budget Proposes Significant Cuts to Key Federal Housing Programs

On March 11, the White House released the first part of its Fiscal Year 2020 Budget entitled, “A Budget for a Better America; Promises Kept. Taxpayers First,” outlining the Trump Administration’s priorities and funding recommendations for the next fiscal year.

NCSHA Opportunity Zone Fund Directory Surpasses 100 Funds, Nearly $24 Billion in Investment

More than 100 funds have been launched to invest in designated Opportunity Zones, according to NCSHA’s latest Opportunity Zone Fund Directory. The 105 funds in the current directory represent nearly $24 billion in anticipated investment. Funds range in size from $1 million to $3 billion, with an average fund size of approximately $225 million.

CFPB Solicits Information for Rulemaking on PACE Loans

The Consumer Financial Protection Bureau earlier today released an Advance Notice of Proposed Rulemaking soliciting information on Property Assessed Clean Energy (PACE) loans.

FHFA Rule Requires GSEs to Align Policies to Facilitate Single Security

The Federal Housing Finance Agency earlier today released a final rule requiring the government-sponsored enterprises Fannie Mae and Freddie Mac to align their policies and procedures that could impact the prepayment speeds of their mortgage-backed securities in the to-be-announced market.