NCSHA Blogs
FHFA Announces Largest Allocation Yet to Housing Trust Fund and Capital Magnet Fund
Today, Federal Housing Finance Agency Acting Director Sandra L. Thompson announced the Housing Trust Fund (HTF) and the Capital Magnet Fund (CMF) will receive a total of $1.138 billion for affordable housing initiatives from Fannie Mae and Freddie Mac (the Enterprises). HTF will receive $740 million, an increase of $29 million from the previous year, and CMF will receive $398 million, an increase of $15 million from the previous year. These are the largest amounts ever provided to these programs from the Enterprises.
States, Localities Helped More Than 3 Million Households Through Emergency Rental Assistance Programs in 2021
Today, the U.S. Department of the Treasury released quarterly data on the use of the Emergency Rental Assistance (ERA) programs—both ERA 1 and ERA 2—in calendar year 2021. The data Treasury released today illustrates the notable success of the program in reaching households most in need in an expedient manner, especially given the challenges of standing up a brand new emergency program that required coordination between policy-makers, program administrators, technology providers, and landlord partners.
Congress Passes Continuing Resolution to Keep Government Running Until March 11
On February 17, the Senate passed a continuing resolution (CR) funding the federal government through March 11, giving Congress more time to finalize Fiscal Year 2022 appropriations bills.
IRS Extends Housing Credit Regulatory Relief Available During COVID-19 Pandemic
On January 11, the Internal Revenue Service (IRS) issued Notice 2022-05 extending and expanding on temporary relief for state Housing Credit agencies and owners and residents of Housing Credit...
Treasury Issues Final Rule for Fiscal Recovery Funds Program
On January 6, the U.S. Department of the Treasury issued the final rule for the State and Local Fiscal Recovery Funds (SLFRF) program authorized in the American Rescue Plan Act, which provided $350...
FHFA Establishes New, Higher Affordable Housing Goals for Fannie Mae, Freddie Mac
The Federal Housing Finance Agency (FHFA) on Wednesday published a final rule establishing updated affordable housing goals for Fannie Mae and Freddie Mac (the Enterprises). The rule sets higher benchmark levels for the single-family and multifamily housing goals and subgoals, as well as two new single-family subgoals. The new single-family goals will apply for years 2022 through 2024, while the multifamily goals apply only for 2022.
Senate Finance and Banking Committees Release Sections of the Build Back Better Act
Both the Senate Finance and the Senate Banking, Housing, and Urban Affairs Committees have released the text of their respective sections of the Build Back Better (BBB) Act. The Finance Committee’s...
NCSHA Leads Coalition Urging Treasury to Align Fiscal Recovery Fund Rules with the Housing Credit
Today, NCSHA, together with 18 other organizations representing state and local governments and affordable housing industry participants, sent a letter to Treasury Secretary Janet Yellen urging the...
NCSHA and Industry Stakeholders Urge IRS and Treasury to Finalize Housing Credit Average Income Test Rule
Today, NCSHA and 31 other affordable housing stakeholder organizations sent a letter to the Internal Revenue Service (IRS) and U.S. Department of the Treasury (Treasury) urging them to expedite...
IRS Issues Guidance on Implementation of Housing Credit 4 Percent Minimum Rate
On December 1, the Internal Revenue Service (IRS) issued Revenue Ruling 2021-20 and Revenue Procedure 2021-43 providing guidance to address ambiguities related to the application of the Housing...
