Below is a letter regarding housing finance reform to Acting Federal Housing Finance Agency (FHFA) Director Otting, signed by twenty-eight housing stakeholders, emphasizing the vital role that Fannie Mae and Freddie Mac, the Government-Sponsored Enterprises (GSEs), play in the housing finance and mortgage market. View Letter […]
Read More… from Housing Finance Reform Letter to Acting FHFA Director Otting
The Internal Revenue Service (IRS) published final regulations amending the Housing Credit utility allowance rules to make permanent the previously existing submetering rules, which had been in place on a temporary basis since March of 2016. The regulations provide guidance related to situations when a building owner sells energy to tenants produced by a renewable source […]
Read More… from IRS Publishes Final Housing Credit Utility Allowance Submetering Rule
The Internal Revenue Service published in the Federal Register final regulations that amend the compliance monitoring regulations for the Low Income Housing Credit under section 42 of the Internal Revenue Code. These final regulations revise and clarify the requirement to conduct physical inspections and review low-income certifications and other documentation. View Document […]
HUD’s Office of Multifamily Housing Programs published a Housing Notice and related Mortgagee Letter today that expand the use of the Low-Income Housing Tax Credit (LIHTC) pilot program into New Construction and Substantial Rehabilitation loan products under Sections 221(d)(4) and 220. The expanded pilot program will ensure faster and more efficient processing for low-risk, LIHTC […]
Read More… from HUD Office of Multifamily Housing Programs Mortgagee Letter
HUD’s Office of Multifamily Housing Programs published a Housing Notice and related Mortgagee Letter today that expand the use of the Low-Income Housing Tax Credit (LIHTC) pilot program into New Construction and Substantial Rehabilitation loan products under Sections 221(d)(4) and 220. The expanded pilot program will ensure faster and more efficient processing for low-risk, LIHTC […]
Read More… from HUD Office of Multifamily Housing Programs Housing Notice
On February 14, 2019, during an Internal Revenue Service (IRS) public hearing on proposed Opportunity Zone regulations, Executive Director Stockton Williams urged IRS to implement regulations that strengthen the ability of Opportunity Zone tax incentives to expand and preserve affordable housing. In his testimony, Williams highlighted the importance of ensuring Opportunity Zone incentives can be […]
Read More… from NCSHA Public Hearing Statement to IRS on Opportunity Zone Proposed Regulations
On February 11, HUD published a Notice soliciting public comment on the tenant data collection process that Housing Credit agencies undertake to collect information on households living in Housing Credit properties, as required by the Housing and Economic Recovery Act of 2008 (HERA). HUD publishes this data annually in its Understanding Whom the LIHTC Serves […]
On December 20, 2018, the National Association of Bond Lawyers (NABL) sent a letter to senior White House, Treasury, and IRS officials asking for guidance clarifying that preferences for special populations, such as veterans, do not violate the public use requirements in regulations governing multifamily Housing Bonds. View Document […]
On February 1, 2019, Senate Banking Committee Chair Mike Crapo (R-ID) released an outline of his housing finance reform plan, which includes a securitization platform operated by Ginnie Mae and would replace the GSEs’ housing goals and duty to serve with a new Market Access Fund. The Market Access Fund, Housing Trust Fund, and Capital […]
