NCSHA COVID-19 Blogs, News, and Resources
The most recent NCSHA blogs, news, resources, statements, and talking points for HFAs are available below. For a curated compilation of COVID-19 information, guidelines, and notices published by state HFAs, the Administration, HUD, and other federal agencies, please visit the COVID-19 Resources and Updates Center.
Just when it looked like there might be a short pause to the frantic federal policymaking in response to COVID-19, this week saw two financial regulators make moves that, while not aimed at the...
On May 21, HUD updated its Questions and Answers for Office of Multifamily Housing Stakeholders on addressing concerns related to the Coronavirus (COVID-19).
FHFA Announcement of Refinance and Home Purchase Eligibility for Fannie Mae and Freddie Mac Borrowers
As part of its response to the coronavirus national emergency, FHFA announced that Fannie Mae and Freddie Mae will, temporarily, purchase loans originated to borrowers in forbearance, and that enhanced due diligence will be required to do so.
This matrix shows critical components of state HFA emergency rental assistance programs established in response to the COVID-19 pandemic.
This document provides talking points HFAs and their partners can use to advocate for the enactment of the Emergency Rental Assistance and Rental Market Stabilization Act.
With encouraging news in such short supply these days, it’s frustrating to find any dark linings in what look like silver clouds. Last Friday’s report from the National Multifamily...
NCSHA staff prepared the attached memorandum to summarize the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act under consideration in the House of Representatives. The bill would provide more than $3 trillion for coronavirus relief in programs across government agencies, including state and local assistance; additional individual payments; and significant funding for education, public health, and affordable housing; and make other housing-related changes.
On May 14, 2020, a group of Senators wrote Treasury Secretary Mnuchin and Federal Reserve System Board Chair Powell to encourage them to take further action to stabilize the municipal bond market to ensure state and local governments have access to needed medium- and long-term financing.
NCSHA May 14 Letter to Ginnie Mae on Its Pass-Through Assistance Programs and Loan Delinquency Ratio Requirements
On behalf of its state Housing Finance Agency (HFA) members, NCSHA wrote Ginnie Mae this letter expressing appreciation for the steps it has taken to provide assistance to single-family and multifamily loan servicers affected by COVID-19, asking it to reconsider and amend key aspects of those programs, and urging it to issue guidance as soon as possible that would hold harmless state HFAs from the effects of Ginnie Mae’s delinquency ratio calculations during the COVID-19 pandemic.
In response to the National Emergency declared by President Trump on March 13, 2020, in connection with COVID-19, Ginnie Mae is hereby provided Issuers temporary relief from the acceptable delinquency rate threshold requirement identified in Ch. 18, Part 3, § C of the Mortgage-Backed Securities (MBS).
House Democrats Unveil $3 Trillion-Plus Coronavirus Package with Rent, Mortgage, Liquidity Assistance
On May 12, House Democrats released the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, which would provide more than $3 trillion for coronavirus relief in programs across government agencies, including significant funding for affordable housing. Republicans rejected the proposal immediately, which they view as more of a Democratic wish list than the opening bid in negotiations for a fifth coronavirus relief package.
Why Congress Should Provide a Substantial, One-Time Increase in HOME Program Funding in Response to the COVID-19 Pandemic
This document provides talking points that HFAs and their partners can use to advocate for supplemental HOME funding to assist in the COVID-19 response.