This January 2022 report by the U.S. Government Accountability Office finds that government agencies must significantly improve oversight of emergency relief funds, including the Emergency Rental Assistance (ERA) program. The report makes recommendations to the Treasury Department and the Office of Management and Budget related to ERA oversight. It also provides recommendations to other government […]
Read More… from GAO Report on Oversight Needs for COVID-19 Relief Programs
This January 2022 report assesses the Internal Revenue Service’s (IRS) processes and procedures to ensure Housing Credit agency, building owner, and taxpayer compliance with the Housing Credit and includes recommendations to IRS related to additional system validity checks, establishing an examination selection process for questionable claims, and allocating additional resources for increased compliance monitoring of […]
Senior officials from the Department of Housing and Urban Development report on the latest developments on HOME, HOME-ARP, and the Housing Trust Fund (HTF), including updates on allocations, program performance, COVID-19 transition, and expected guidance in 2022. Access Presentation DISCUSSION LEADER Garth Rieman, Director of Housing Advocacy and Strategic Initiatives | National Council of State […]
On January 21, 2022, the Campaign for Housing and Community Development Funding, of which NCSHA is a member, sent this letter to congressional leadership urging them to quickly enact the Build Back Better Act including its $154 billion in investments in critical housing and community development. View Letter […]
This notice extends and expands temporary relief originally provided under Notice 2020-23, Notice 2020-53, and Notice 2021-12 from certain requirements under Section 42 of the Internal Revenue Code for Housing Credit properties in response to the ongoing COVID-19 pandemic. View Document Prior Notices Notice 2021-12 Notice 2020-53 Notice 2020-23 […]
Virginia Mortgage Relief Program Website From Virginia Housing Virginia Mortgage Relief Program, or VMRP, provides assistance to homeowners in Virginia experiencing financial hardship due to COVID-19, to help prevent and/or ease mortgage delinquencies, defaults, foreclosures and displacement. Financial hardship could include an increase in living expenses, childcare, change in household size, job loss or reduction […]
Read More… from Featured HAF Program: Virginia Mortgage Relief Program
On December 22, 2021, the Federal Housing Finance Agency published a final rule establishing the single-family and multifamily affordable housing goals for Fannie Mae and Freddie Mac for years 2022–2024. The final rule increases all of the single-family goals and subgoals and establishes two new subgoals, one targeting minority communities and the other targeting low-income […]
This December 10, 2021, letter, spearheaded by NCSHA and signed by 18 additional organizations representing state and local government officials and Housing Credit industry participants, urges U.S. Treasury Secretary Janet Yellen to modify existing guidance on the Coronavirus State and Local Fiscal Recovery Fund to provide more flexibility in the use of these funds in […]
This summary provides details of the proposed “First Generation Down Payment Fund” program. This program has been included in the text of the “Build Back Better Act” that passed the House of Representatives on November 19, 2021. This summary reflects the Senate Banking Committee print of its provisions for the Build Back Better Act it […]
Read More… from NCSHA Summary of the First Generation Downpayment Fund
