On April 18, 2019, the Federal Housing Administration (FHA) released Mortgagee Letter 2019-06, Downpayment Assistance and Operating in a Governmental Capacity, which clarifies documentation requirements that FHA-approved mortgagees must satisfy when originating a mortgage for a borrower using funds from another person or entity to satisfy a portion or all of the Minimum Required Investment, […]
On April 25, 2019, the Federal Housing Administration provided an extension of the effective date of Mortgagee Letter 2019-06, Downpayment Assistance and Operating in a Governmental Capacity. The guidance provided in ML 2019-06 will be effective for case numbers assigned on or after July 23, 2019, rather than the originally published effective date of April […]
The following document is the U.S. District Court of Utah’s ruling on the Cedar Band of Paiutes, Cedar Band Corporation, and CBC Mortgage Agency’s complaint to file a temporary restraining order on FHA’s Mortgagee Letter 2019-06 guidance. View Document […]
Read More… from Court Ruling on Mortgagee Letter 2019-06 Temporary Injunction
NCSHA, on behalf of the state Housing Finance Agencies, sent this letter to the Federal Housing Administration (FHA) regarding the agency’s recent issue of Mortgagee Letter 2019-16. The letter requests clarification on FHA’s policy regarding documentation requirements that FHA-approved mortgagees must satisfy when originating a mortgage for a borrower using funds from another person or […]
Read More… from NCSHA Comments on FHA Mortgagee Letter 2019-16
NCSHA submitted comments to the Department of the Treasury and Internal Revenue Service urging them to provide guidance to HUD so that HUD will be able to publish area-specific income limits at the various designations allowable under the Average Income Test. View Letter […]
Read More… from NCSHA Letter to IRS on Average Income Test Income Limits
NCSHA submitted comments on the U.S. Department of Housing and Urban Development’s (HUD) process for collecting data from state Low Income Housing Tax Credit (Housing Credit) administering agencies on tenants residing in Housing Credit properties and on HUD’s proposals for modifying both the HUD LIHTC Tenant Data Collection Form (HUD-52697) and the LIHTC Database Data […]
Read More… from NCSHA Comments on HUD Data Collection Notice
This document reference the Opportunity Zone tax incentive as a powerful tool meant to bring private capital to undeserved communities. View Form […]
The IRS Form 8996 is used to clarify that a corporation or partnership is a Qualified Opportunity Fund and to annually report whether the fund met the investment standard during its tax year. View Form […]
This document contains a White House fact sheet on addressing geographic inequality by promoting investment in opportunity zones. View Document […]
Read More… from White House Fact Sheet on How Opportunity Zones Address Geographic Inequality
