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NCSHA Urges IRS, Treasury to Establish Emergency Measures Related to Housing Credit Administration During COVID-19 Pandemic
NCSHA, on March 23, sent the Internal Revenue Service and U.S. Department of the Treasury a letter urging them to take immediate action to provide necessary accommodations for the Low Income Housing Tax Credit program due to the COVID-19 pandemic. These measures are essential as social distancing, which is critical to safeguarding the health of Housing Credit residents and those who work in the industry, is resulting in severe disruptions to Housing Credit production and ongoing property operations.
Housing Agency Urges North Dakotans to Talk to Your Mortgage Servicer or Landlord First; Don’t Become a Victim of a Financial Scam
NDHFA is encouraging households facing financial difficulties because of the Coronavirus (COVID-19) to notify their mortgage loan servicer or landlord if they are unable to make their mortgage or rent payment. “Our loan servicing department has fielded multiple calls and emails from individuals and families who are facing financial difficulties because of virus-related shutdowns,” said Dave Flohr, NDHFA interim executive director. “We want our borrowers to keep calling us. Now is the time to talk to the people you can trust.”
FHFA Authorizes the Enterprises to Support Additional Liquidity in the Secondary Mortgage Market
Washington, D.C.– Today, to help support immediate needs for liquidity in the secondary mortgage market, the Federal Housing Finance Agency (FHFA) has authorized Fannie Mae and Freddie Mac (the...
Fed Announces Unlimited Bond Purchases in Unprecedented Move to Help U.S. Economy Weather Coronavirus Meltdown
The Federal Reserve announced Monday an unlimited expansion of bond purchasing programs to backstop the U.S. economy, as millions of American households and businesses are getting crushed by the...
Federal Reserve, FHFA Provide More Liquidity to Ailing Markets
On Monday morning, March 23, the Federal Reserve announced a number of significant moves to provide liquidity to U.S. markets. The Federal Open Market Committee will purchase Treasury securities and agency mortgage-backed securities in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.
Regulators issue more guidance on banks’ pandemic response
WASHINGTON — Federal banking regulators took a series of steps Thursday to further guide banks in supporting customers, small businesses and communities in the midst of the coronavirus...
Racing to Head Off Evictions and Foreclosures
The financial shock from the coronavirus pandemic threatens the housing security of millions of Americans, prompting federal, state and local officials — and even judges and the police — to move...
NCSHA Washington Report | March 20, 2020
The unprecedented global COVID-19 pandemic that has become an unprecedented national emergency may ultimately affect affordable housing needs and systems in more profound ways than the financial...
Governor Murphy Announces Effort to Help Renters, Homeowners Threatened by Potential Foreclosure
Governor Phil Murphy today announced an expanded housing counseling initiative to help New Jersey renters and homeowners who are threatened with a loss of housing due to the COVID-19 crisis. At the direction of Governor Murphy, the New Jersey Housing and Mortgage Finance Agency’s (NJHMFA) housing counseling initiative is expanding to include renters, who may be concerned with eviction, and homeowners who may need counseling to help prevent possible foreclosure. These services are available at no cost to the consumer.
ACTION Urges Congress to Act Now to Extend Housing Credit Deadlines, Set Minimum 4 Percent Rate in Response to COVID-19
On March 18, the ACTION Campaign, a coalition of more than 2,300 organizations and businesses across the nation co-chaired by NCSHA and Enterprise Community Partners, released a statement calling on Congress to extend, by one year, three key Housing Credit deadlines required under the statute. These deadlines will be difficult, if not impossible, for many properties to meet given the slowing pace of development due to the COVID-19 crisis.
Trump Orders HUD to Suspend Evictions and Foreclosures
President Trump on Wednesday directed the Department of Housing and Urban Development (HUD) to suspend evictions and foreclosures through April as Americans grapple with the fallout of the...
FHFA Suspends Foreclosures and Evictions for Enterprise-Backed Mortgages
Washington, D.C. – Today, to help borrowers who are at risk of losing their home, the Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac (the Enterprises) to...
