Newsroom
Excluded From Bailouts, Mortgage Servicers Face Cash Crunch
Washington — Federal policymakers have rushed to backstop nearly every corner of the financial system as the coronavirus exacts a bruising toll on the U.S. economy. But there is growing concern...
Fannie, Freddie May Soon Buy Home Loans in Forbearance to Help Mortgage Firms
A top U.S. regulator is considering taking steps to ease strains on mortgage companies facing a cash crunch as millions of Americans struggling with the fallout from the coronavirus suspend their...
FHFA Announces Relief for GSE Mortgage Servicers
FHFA announced today that it would limit to four months the time period Fannie Mae and Freddie Mac (the GSEs) mortgage servicers must make monthly payments on home loans despite reduced or missed payments from borrowers. Under the policy, once a servicer has advanced four months of missed payments on a single-family loan, it will have no further obligation to advance scheduled monthly principal and interest payments for that loan. This applies to all GSE servicers.
MassHousing Completes Workforce Housing Financing for New, 68-Unit Housing Community in Newton
MassHousing has closed on $1.3 million in affordable workforce housing financing to Austin Street Partners LLC, for the new, 68-unit 28 Austin Street in Newton, which offers 23 workforce housing apartments for lower- and moderate-income households. The recently completed 28 Austin Street development is a public-private partnership between Austin Street Partners, a joint venture of Dinosaur Capital Partners and Oaktree Development, and the City of Newton.
Housing and Civil Rights Coalition Demands Federal Liquidity Facility for Servicers
A coalition of housing advocacy groups, national and regional civil rights organizations and minority-focused real estate trade associations, joined by former Mortgage Bankers Association chief...
WHEDA Seeks Public Comment on Tax Credit Distribution Plan
The Wisconsin Housing and Economic Development Authority is seeking public comment on proposed changes to its tax credit distribution plan, including changes that would increase the positive economic, social and environmental impact of affordable housing projects while improving the competitiveness of rural developments.
Florida Housing Finance Corporation Urges Property Owners to Suspend Rent Increases During COVID-19 Pandemic
Today, Trey Price, the Executive Director of the Florida Housing Finance Corporation (Florida Housing), strongly urged property owners and managers of properties funded by Florida Housing to suspend rent increases during the COVID-19 pandemic. “As Floridians grapple with the COVID-19 public health emergency, the last thing they need is for landlords to increase rental payments,” said Trey Price, Executive Director of Florida Housing Finance Corporation.
NCSHA Washington Report | April 17, 2020
Nobody in affordable housing has time to be a historian these days. So, it’s helpful to hear from leaders who were around during the last national crisis who have advice for responding to the...
Mnuchin Under Growing Pressure to Help Struggling Mortgage Companies
Treasury Secretary Steven Mnuchin is under growing pressure from industry officials and members of Congress to ease strains on mortgage companies as millions of borrowers skip their monthly payments...
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.
