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NCSHA Letter to FHFA on Fannie, Freddie Single-Family Loan Pricing Framework

On August 14, 2023, NCSHA responded to the Federal Housing Finance Agencyā€™s May 15 request for input on Fannie Mae and Freddie Macā€™s framework for pricing single-family mortgages. The letter urged FHFA, when adjusting the pricing framework, to balance the need for the government-sponsored enterprises (GSEs) to maintain adequate capital with their public missions to support a liquid housing finance market, including for underserved markets. The letter also asked FHFA to continue to exempt loans originated through the GSEsā€™ HFA-specific products, as well as other loans for low- and moderate-income home buyers, from upfront mortgage fees.

Affordable Housing Bond Enhancement Act

A complete resource for the Affordable Housing Bond Enhancement Act.

IRS Revenue Procedure 2023-22: New MRB and MCC Purchase Price Limits and Safe Harbors

On April 19, 2023, the Internal Revenue Service published Revenue Procedure 2023-22, 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 Federal Housing Administration single-family loan limits released in December 2022 and dividing them by .883. It also sets the national average purchase price at $503,300 for computing the housing cost/income ratio, which determines which areas qualify as high-cost and are eligible for an increase in MRB/MCC income limits.

Affordable Housing Credit Improvement Act Center

Access advocacy tools, useful links, and videos related to the Affordable Housing Credit Improvement Act. Get involved and contact NCSHA staff with questions. | Sponsored by Senators Maria Cantwell (D-WA), Todd Young (R-IN), Ron Wyden (D-OR), Johnny Isakson (R-GA) and in the Senate and Representatives Suzan DelBene (D-WA), Kenny Marchant (R-TX), Don Beyer (D-VA), and Jackie Walorski (R-IN) in the House, the Affordable Housing Credit Improvement Act of 2019 (S. 1703/H.R. 3077) would make significant strides towards addressing our nationā€™s severe shortage of affordable housing by expanding and strengthening the Low Income Housing Tax Credit (Housing Credit), our nationā€™s most successful tool for encouraging private investment in the production and preservation of affordable rental housing. This legislation would increase the supply of affordable rental housing by over 550,000 units over 10 years. #AHCIA

Affordable Housing Credit Improvement Act of 2021 (S. 1136/H.R. 2573): Cosponsorship List by State

This document tracks the members of Congress who have cosponsored the Affordable Housing Credit Improvement Act of 2021 to amend the Internal Revenue Code of 1986 to reform the Low Income Housing Tax Credit.

Novogradac LIHTC Working Group ā€“ NCSHA Comments on Average Income Test Temporary Regulations

NCSHA joined the Novogradac LIHTC Working Group on this December 12, 2022, comment letter to the Internal Revenue Service suggesting technical changes to the Average Income Test (AIT) temporary regulations related to reporting requirements for AIT compliance.

Featured HAF Program: Delaware Mortgage Relief Program

Are you a Delawarean at risk of displacement due to unpaid housing-related obligations such as mortgage payments and property charges? TheĀ Delaware Mortgage Relief ProgramĀ may be able to help.

IRS Revenue Procedure 2022-38: 2023 Housing Credit and Housing Bond Volume Caps

The Internal Revenue Serviceā€™s Revenue Procedure 2022-38 provides the 2023 per-capita and small-state minimum levels for the Low Income Housing Tax Credit and Private Activity Bonds. In 2022, states will receive the greater of $2.75 per capita or $3,185,000 in Housing Credit authority and the greater of $120 per capita or $358,845,000 in PAB volume cap.

Average Income Test Final and Temporary Regulations

This final rule sets forth guidance on the Housing Credit Average Income Test (AIT) minimum set-aside and also includes temporary regulations related to reporting on AIT compliance.