Newsroom
IRS Provides Short-Term Extensions to Certain Housing Credit, Housing Bond Deadlines Due to COVID-19
On April 10, the Internal Revenue Service published Notice 2020-23 providing additional relief for taxpayers affected by the coronavirus pandemic. The notice provides that taxpayers have until July 15, 2020, to perform specified time-sensitive actions due to be performed on or after April 1, 2020, and before July 15, 2020. While the notice does not specifically reference any Housing Credit or Housing Bond deadlines, it applies the July 15 deadline to all time-sensitive actions included in IRS Revenue Procedure 2018-58, which includes numerous deadlines related to these programs.
HUD Issues COVID-19 Guidance, Waivers for HOME Program
HUD has published two memoranda providing guidance, including suspensions of statutory provisions and other regulatory waivers, for the HOME Investment Partnerships program and HOME Tenant-Based Rental Assistance to help participating jurisdictions respond to housing needs during the COVID-19 pandemic. The HOME and HOME TBRA guidance covers nearly every recommendation NCSHA made to HUD in our March 30 letter on Community Planning and Development programs’ needs during the COVID-19 pandemic.
DSHA Announces $9 Million in Funding Available for Downtown Development District Project Rebates
Delaware State Housing Authority (DSHA) is accepting applications through June 1 for large project rebate reservations through the Downtown Development Districts (DDD) program. Investors who make qualified real property investments in one of 12 designated districts can apply for a rebate of up to 20 percent of eligible costs. The designated districts are: Clayton, Delaware City, Dover, Georgetown, Harrington, Laurel, Middletown, Milford, the City of New Castle, Seaford, Smyrna and Wilmington.
Ginnie Mae Releases New COVID-19 Pass-Through Assistance Program
On Friday, Ginnie Mae released its promised Pass-Through Assistance Program related to COVID-19 (PTAP/C19). Under the program, Ginnie Mae will provide pass-through payments to single-family issuers...
NCSHA Washington Report | April 10, 2020
Federal economic policymakers are focused for good reason on the families, businesses, and industries already crippled by the COVID-19 pandemic. The urgent question is whether they’ll apply the...
MassHousing Surpasses $1 Billion in Multifamily Accelerated Processing (MAP) Lending, Preserving More Than 7,400 Affordable Rental Housing Units for Massachusetts Residents
MassHousing has surpassed $1 billion in lending through the MAP program, preserving the affordability of 43 affordable housing communities since 2015 and extending affordability protections on more than 7,400 rental housing units for lower-income Massachusetts residents. Since MassHousing began executing MAP transactions, the Agency has consistently ranked among the nation’s larger MAP lenders and has built the largest MAP lending program of any state housing finance agency.
Fannie, Freddie Unlikely to Aid Mortgage Companies as Payments Dry Up, FHFA Chief Says
Mark Calabria, who leads the Federal Housing Finance Agency, described industry concerns as “spin.” In an interview on Tuesday, he also said he doesn’t see it as the role of government-backed...
Federal Reserve Takes Additional Actions to Provide Up to $2.3 Trillion In Loans to Support The Economy
The Federal Reserve, on April 9, took additional actions to provide up to $2.3 trillion in loans to support the economy. This funding will assist households and employers of all sizes and bolster the...
The Coronavirus is Exposing America’s Housing Crisis
Just as Americans are being instructed to stay home, it’s becoming one of the hardest things to afford. On March 31, about 300 tenants received an email from their apartment management company. The...
Top Loan Officers and Lenders Recognized by NHHFA for Outstanding Efforts in Assisting Homebuyers
Lenders and loan originators were recently recognized by New Hampshire Housing for helping 2,000 homebuyers find affordable homes and loans last year. The awards were given to the lending institutions and loan originators who assisted the most homebuyers through New Hampshire Housing programs in 2019.
Funding Available Through the CARES Act for Nonprofits and Units of Local Government to Provide Emergency Shelter and Homelessness Prevention
Per the CARES Act, South Dakota has initially received an allocation of $2,199,893 of special ESG program funds to be used to prevent, prepare for, and respond to the coronavirus pandemic (COVID-19) among individuals and families who are homeless or receiving homeless assistance; and to support additional homeless assistance and homelessness prevention activities to mitigate the impacts of COVID-19.
NCSHA Washington Report | April 3, 2020
The high-level task force Treasury Secretary Mnuchin assembled to craft a federal response to the financial crisis facing the mortgage servicing industry in this new era of mass...
