Newsroom
FHFA Extends COVID-Related Loan Processing Flexibilities for Fannie Mae and Freddie Mac Customers Through August
Washington, D.C. – The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until August 31,...
Delaware Public Housing Authorities, Department of Correction and Delaware Center for Justice Launch Family Reentry Pilot Program
Delaware’s five public housing authorities (PHAs), the Delaware Department of Correction (DOC) and the Delaware Center for Justice (DCJ) today launched the Delaware Family Reentry Pilot (FRP) Program, a statewide initiative to give individuals recently released from incarceration the opportunity to access safe and stable housing by reuniting with their families who live in public housing. It represents the latest statewide initiative to advance Governor John Carney’s effort to support reentry success and reduce Delaware’s recidivism rate through Executive Order 27.
FHA Expands Home Retention Measures for Homeowners Financially Impacted by COVID-19
Washington - The Federal Housing Administration (FHA) today announced additional home retention measures to help homeowners with FHA-insured single family mortgages who are financially impacted by...
House Appropriations Subcommittee Approves FY 2021 Bill Increasing HUD Program Funding Levels
The House Appropriations Subcommittee on Transportation, Housing and Urban Development, and Related Agencies today passed its fiscal year (FY) 2021 appropriations bill, which would provide substantial increases for regular annual appropriations for HUD programs in FY 2021 and additional appropriations for several HUD programs to foster economic recovery from the coronavirus pandemic and support infrastructure development.
House Appropriations Subcommittee Approves FY 2021 Agriculture Appropriations Bill
The House Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies convened Monday evening to mark up the FY 2021 appropriations bill for USDA, FDA, and related agencies. The bill, which includes a total of $23.98 billion in discretionary funding — an increase of $487 million from FY 2020 — was approved by a voice vote.
WHEDA Invites Community Participation to Kick Off Rural Affordable Workforce Housing Initiative
Rural community leaders, employers, affordable housing providers, developers, lenders, planners, policy makers and residents are invited to learn more and provide final input prior to the launch of the competitive application process for the Wisconsin Housing and Economic Development Authority’s rural affordable workforce housing pilot. A webinar to explain the pilot and larger rural affordable workforce housing initiative will be held July 13 at 1 p.m. Information about the initiative including public comment options can be found here; registration for the free webinar is available here.
House Passes Infrastructure Legislation with Significant Expansion of Housing Credits and Private Activity Bonds
On July 1, the House of Representatives, on a largely party-line vote, passed an historic infrastructure bill, the Moving Forward Act (H.R. 2), with significant new resources for affordable housing, including many NCSHA priorities — a 50 percent increase to the Housing Credit volume cap, the establishment of a minimum 4 percent credit rate for bond-financed Housing Credit properties, an increase to the private activity bond volume cap, the creation of a new single-family tax credit, funding increases for HOME and the Housing Trust Fund, and more.
IRS Extends Housing Credit and Bond Deadlines, Provides Other Guidance on COVID-19
On July 1, the Internal Revenue Service published Notice 2020-53 providing temporary relief to owners and residents of Housing Credit and tax-exempt bond financed developments in response to the COVID-19 pandemic. The notice provides relief to agencies that administer the Housing Credit and tax-exempt bond programs and addresses nearly all of the issues raised in the letter NCSHA sent to IRS in March requesting COVID-19 relief.
IRS, Treasury Issue Proposed Rule Relaxing Compliance Monitoring Sample Sizes
In a massive victory for NCSHA, IRS and Treasury today published a proposed rule repealing the Housing Credit compliance monitoring sample size methodology that the Service and the department adopted in final regulations issued in February 2019. Those regulations, which NCSHA strongly opposed, would have gone into practical effect no later than January 1, 2021. Instead, the proposed rule IRS and Treasury released today reinstates previous policy in place from 2016 until IRS published the 2019 regulations.
All Qualified Alaskans Who Applied for Housing Relief To Receive It
Up to $1,200 in mortgage and rent relief was made available to eligible Alaskans through the federal CARES Act in response to COVID-19 hardship. Applications were accepted by Alaska Housing Finance Corporation from across the state for a two-week period from June 15-26, 2020. “When I directed Alaska Housing Finance Corporation to create a $10 million program to help prevent homelessness, we didn’t know what kind of response we would get. Today, the program is fully subscribed.
Housing Agency Promotes Becker and Mollman
NDHFA has promoted Kim Becker and Terri Mollman to leadership positions in its homeownership division. The state agency offers homebuyer education, affordable home financing, and down payment and closing costs assistance to low- to moderate-income households, primarily first-time homebuyers, to help them become successful homeowners. “We are excited to have Kim and Terri take on new roles at the agency,” said Dave Flohr, NDHFA executive director. “They are both dedicated, hardworking members of our team and will do a great job in their new positions.”
Affordable Housing Development Assistance Available
North Dakota Housing Finance Agency (NDHFA) is accepting applications for affordable housing development assistance available through the federal Low Income Housing Tax Credit (LIHTC) and National Housing Trust Fund (HTF) programs. “North Dakota Housing Finance Agency administers development programs that help our communities provide for the housing needs of their most vulnerable populations,” said Dave Flohr, NDHFA executive director.
