Newsroom
CFPB Solicits Information for Rulemaking on PACE Loans
The Consumer Financial Protection Bureau earlier today released an Advance Notice of Proposed Rulemaking soliciting information on Property Assessed Clean Energy (PACE) loans.
CHFA Awarded $6 Million in Capital Magnet Funds to Support Affordable Housing
Colorado Housing and Finance Authority (CHFA) has been awarded a $6 million Capital Magnet Fund (CMF) grant to support the development and preservation of affordable rental housing across Colorado. CHFA was one of only three housing finance agencies in the nation to receive an award among 38 total recipients nationwide. CHFA will use the award to enhance its existing statewide housing fund that was created with a $7.1 million CMF grant awarded in 2018.
Colorado Speaker of the House KC Becker Appointed to CHFA’s Board of Directors
CHFA is pleased to announce that Colorado Speaker of the House, KC Becker, has been appointed to CHFA’s board of directors for the 2019-2020 legislative biennium. CHFA’s 11-member board serves as the governing body of the organization and establishes policies to further its mission of affordable housing and community development. “I look forward to serving on CHFA’s board and contributing to the organization’s work to strengthen housing and economic opportunities in Colorado. Affordable housing is crucial to healthy communities and essential as our state continues to face challenges in meeting the needs of all Coloradans,” said Rep. Becker.
NCSHA Washington Report | March 1, 2019
Florida Governor Ron DeSantis (R), who before his election last fall served three terms in Congress as one of its most conservative members, has proposed in his first budget to break a...
Governor Approves Mississippi Home Corporation’s Special Opportunity Zone Cycle for Low Income Tax Credit Program
Governor Phil Bryant recently signed an amendment to include a special Opportunity Zone cycle as part of the Low-Income Housing Tax Credit Program offered through the Mississippi Home Corporation. The special cycle will add benefits to investors who invest eligible capital into the selected opportunity zones in MS. The Tax Cuts and Jobs Act of 2017 established Opportunity Zones to boost economic development and job creation in distressed communities throughout the country.
FHFA Rule Requires GSEs to Align Policies to Facilitate Single Security
The Federal Housing Finance Agency earlier today released a final rule requiring the government-sponsored enterprises Fannie Mae and Freddie Mac to align their policies and procedures that could impact the prepayment speeds of their mortgage-backed securities in the to-be-announced market.
IRS Issues Final Housing Credit Compliance Monitoring Regulations
On February 26, the Internal Revenue Service (IRS) issued final regulations for Housing Credit compliance monitoring, which replace the temporary compliance monitoring regulations under which Credit agencies have been operating since 2016. The new regulations make several significant changes to compliance monitoring requirements, including in some cases increasing the number of units in a property that Credit agencies will need to monitor.
Affordability Extended at Senior Housing Community in Brighton, Property Improvements Planned, Resulting From $44.8 Million in MassHousing Financing
Senior citizens living at the 200-unit Covenant House I and II housing community in Brighton have had affordable rents extended through 2052 and will see significant property improvements as a result of $44.8 million in MassHousing affordable housing financing to the non-profit developer B’nai B’rith Housing. B’nai B’rith Housing refinanced the Covenant House property through MassHousing’s Multifamily Accelerated Processing (MAP)/Ginnie Mae Joint Venture Initiative with partner lender Rockport Mortgage Corporation.
The Hogan Administration Announces Expansion of Cold-Weather Sheltering for the Homeless in Charles County
The Maryland Department of Housing and Community Development today announced a grant award of $242,924 to expand cold-weather sheltering for homeless individuals in Charles County. The grant will be administered through the Maryland Department of Housing and Community Development's Homelessness Solutions Program. This fiscal year, the program awarded $9.1 million in grants to support homeless shelters and services statewide.
Banking Committee Approves Calabria Nomination on Party-Line Vote
The Senate Banking Committee earlier today voted to favorably report to the full Senate the nomination of Dr. Mark Calabria to serve as Director of the Federal Housing Finance Agency. Calabria’s nomination was advanced on a party-line vote of 13-12, with all Republicans voting in support and Democrats unanimously opposed.
Maryland Mortgage Program Announces New Products and Honors Top Performers
The Maryland Department of Housing and Community Development recently announced new products under the Maryland Mortgage Program before an audience of mortgage lenders, real estate professionals, mortgage insurers, and other homeownership partners at the Hotel Annapolis on February 22. The department also launched a new, consumer-focused social media presence and recognized the program's top lending partners.
Boston Public Housing Community Will Undergo Extensive Renovation With $38.7 Million in MassHousing Financing
MassHousing has closed on $38.7 million in affordable housing financing to the non-profit Inquilinos Boricuas En Accion, Inc. (IBA), for the rehabilitation and preservation of the West Newton Apartments, a 146-unit public housing community in Boston’s South End. IBA’s redevelopment of West Newton Apartments, in partnership with the Boston Housing Authority (BHA), is part of the BHA’s ongoing effort to modernize public housing across Boston.
