On May 23, 2024, members of the House of Representatives, led by Representatives Gwen Moore (D-WI) and Claudia Tenney (R-NY), sent a letter to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel urging the U.S. Department of the Treasury and the Internal Revenue Service to promulgate guidance on the application of protections under the […]
Read More… from Congressional Letter to Treasury on VAWA Housing Credit Guidance
On May 22, 2024, NCSHA submitted comments to the Federal Housing Finance Agency in response to a request for comment on Freddie Mac’s proposed new Closed-End Second (CES) mortgage loan product. In its comments, NCSHA observes the CES mortgage loan product as proposed will have extremely limited use to state HFAs and the low- to […]
Read More… from NCSHA Comments on Freddie Mac Single-Family Closed-End Second Mortgages
On May 1, 2024, NCSHA signed onto a press release by the Underserved Mortgage Markets Coalition (UMMC) regarding the Federal Housing Finance Agency’s April 29 Final Rule on Fair Lending, Fair Housing, and Equitable Housing Finance Plans. The press release applauds FHFA for publishing the rule, which codifies into federal regulations the requirement that Fannie […]
Read More… from Underserved Mortgage Markets Coalition Press Release on FHFA Fair Lending Final Rule
NCSHA and several other leading affordable housing groups signed this April 26, 2024, letter to the House Financial Services Subcommittee leadership expressing support for H.R. 6785, the Rural Housing Service Reform Act of 2023. This legislation would allow for the permanent decoupling of the Section 521 Rental Assistance (RA) program when the Section 515 mortgage […]
On April 15, 2024, NCSHA sent these comments to the U.S. Department of Housing and Urban Development in response to their request for information regarding iron, steel, construction materials, and manufactured products used in housing programs pursuant to the Build America, Buy America Act issued on February 13, 2024. View Letter […]
Read More… from NCSHA’s Comments on HUD Build America, Buy America RFI
On April 16, 2024, the Internal Revenue Service published Revenue Procedure 2024-21, which revises the nationwide average purchase price limits and the average area purchase price safe harbors for the Mortgage Revenue Bond (MRB) and Mortgage Credit Certificate (MCC) programs. The revenue procedure establishes the new MRB and MCC purchase price limits by taking the […]
On April 10, 2024, NCSHA submitted comments to the U.S. Department of Agriculture on Rural Development’s (RD) proposed revisions to Chapters 17, 18, and 19 of Handbook 1-3555. While NCSHA is generally in support of the changes RD has proposed, the comments recommend RD not incorporate language that requires an increase in loan term as […]
Read More… from NCSHA Comments on Revisions to USDA Handbook Loss Mitigation Chapters
On April 2, 2024, the HOME Coalition, along with more than 800 national, state, and local organizations, sent a letter to Chair Brian Schatz (D-HI) and Ranking Member Cindy Hyde-Smith (R-MS) of the Senate Appropriations Subcommittee on Transportation, Housing, and Urban Development (THUD) and Chair Tom Cole (R-OK) and Ranking Member Mike Quigley (D-IL) of […]
This resource is NCSHA’s analysis of the Biden Administration’s Fiscal Year 2025 Budget Request. The $7.3 trillion budget outlines the administration’s fiscal priorities, including for U.S. Departments of Housing and Urban Development and Agriculture housing programs and several new housing programs, offset by a range of new revenue measures, and projects deficit reduction of approximately […]
Read More… from NCSHA’s Analysis of the Biden Administration’s FY 2025 Budget Request
