NCSHA Blogs
FHFA Strategic Plan for 2018-2022 Directs GSEs to Work with HFAs
The Federal Housing Finance Agency (FHFA) earlier today released its final Strategic Plan for 2018-2022. The plan outlines FHFA's goals and priorities for overseeing Fannie Mae, Freddie Mac, and the Federal Home Loan Banks (FHLBs).
Mayors and Business Leaders Launch Coalition to Combat Homelessness and Increase Investment in Affordable Housing
A bipartisan group of mayors and business leaders from around the country yesterday announced a new initiative to protect and expand current levels of federal spending for programs addressing the issues of affordable housing and homelessness.
Congress Passes New Stopgap Funding Bill, Ending Government Shutdown
On January 22, President Trump signed a new stopgap spending bill for Fiscal Year (FY) 2018, officially ending a three-day government shutdown. This Continuing Resolution (CR), which passed the House and Senate earlier in the day, is the fourth in a series of short-term spending bills since the 2018 fiscal year began in October. The CR funds federal programs, including HUD and USDA affordable housing programs, at FY 2017 levels; reauthorizes the National Flood Insurance Program through February 8; and funds the Children’s Health Insurance Program (CHIP) for six years.
Trump Infrastructure Plan Leaked Draft Emerges
Yesterday, a leaked draft outline of the Trump Administration’s infrastructure plan began circulating in Washington and beyond. One of the key planks of the plan includes enhancing private activity bonds (PABs), including removing the state PAB volume cap.
FHFA Shares GSE Reform Proposals with Banking Committee
Federal Housing Finance Agency (FHFA) Director Mel Watt last week sent Senate Banking Committee leaders an outline of FHFA’s proposal for housing finance reform. This is the first time that FHFA has shared its own comprehensive recommendations for housing finance reform in their entirety.
CFPB Announces Review of its Policies and Procedures
Acting Director of the Consumer Financial Protection Bureau (CFPB) Mick Mulvaney announced yesterday that CFPB will examine its operations, policies, and procedures to ensure that it is effectively carrying out its statutory mandate. To inform the review, CFPB intends in the coming weeks to publish in the Federal Register a series of Requests for Information (RFIs) seeking public input on key CFPB activities related to enforcement, supervision, rulemaking, market monitoring, and consumer education.
Banking Committee Again Advances Montgomery Nomination to Lead FHA
The Senate Banking Committee voted via voice vote this morning to favorably report the nomination of Brian Montgomery to be Commissioner of the Federal Housing Administration (FHA) and HUD Assistant Secretary for Housing. Montgomery’s nomination will now be sent to the full Senate for consideration.
FHFA 2018 Scorecards Calls for GSEs to Explore HFA Partnerships
Shortly before the end of 2017, the Federal Housing Finance Agency (FHFA) released its 2018 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions (CSS). The scorecard outlines the steps FHFA expects each of the firms to undertake next year to fulfill FHFA’s Strategic Plan for Enterprise Conservatorship, which was finalized in 2014. FHFA recently proposed an amended Strategic Plan for Fiscal Years 2018-2022, which has not yet been finalized.
NCSHA Releases New Recommended Practices in Housing Credit Administration
Last week, NCSHA issued the Task Force on Recommended Practices in Housing Credit Administration’s (Task Force) final report, which significantly strengthens many of the organization’s previous Housing Credit recommended practices and adds 13 important new practices. NCSHA’s Board of Directors approved the report at its December 2017 meeting.
President Signs Tax Reform Bill; Congress Passes New CR
This morning, President Trump signed into law the Tax Cuts and Jobs Act tax reform legislation, which preserves both the Low Income Housing Tax Credit and private activity Housing Bonds.
