On April 28, 2025, the Federal Housing Administration issued Mortgagee Letter 2025-13 revising the Claims Without Conveyance of Title (CWCOT) program and the exclusive listing period for the U.S. Department of Housing and Urban Development’s Real Estate Owned properties. The letter eliminates the previously established exclusive and extended post-foreclosure sales periods under the CWCOT program […]
Read More… from FHA Mortgagee Letter 2025-13: Updates to Claims Without Conveyance of Title Post-Foreclosure Sales Period and HUD Real Estate Owned Properties Exclusive Listing Period
On April 16, 2025, the Internal Revenue Service published Revenue Procedure 2025-18, 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 […]
Read More… from IRS Revenue Procedure 2025-18: New MRB and MCC Purchase Price Limits and Safe Harbors
On April 15, 2025, the Federal Housing Administration issued Mortgagee Letter 2025-12, which supersedes and updates the guidance provided in Mortgagee Letter 2025-06. This letter accelerates the implementation timelines for certain servicing and loss mitigation policy changes, ends specific COVID-19 relief measures earlier than previously scheduled, and removes proposed provisions related to language access disclosures […]
Read More… from FHA Mortgagee Letter 2025-12: Tightening and Expediting Implementation of the New Permanent Loss Mitigation Options
The Neighborhood Homes Investment Act (NHIA) is bipartisan, bicameral legislation to establish a federal tax credit targeted to the new construction or substantial rehabilitation of affordable, owner-occupied housing located in distressed urban, suburban, and rural neighborhoods. It would mobilize private investment to build and substantially rehabilitate 500,000 affordable homes for moderate- and middle-income homeowners over […]
Read More… from Neighborhood Homes Investment Act FAQs
This document is NCSHA’s detailed summary of the Neighborhood Homes Investment Act introduced by Representatives Mike Kelly (R-PA) and John Larson (D-CT) on April 10, 2025 (H.R. 2854) and Senators Todd Young (R-IN) and Mark Warner (D-VA) on May 8, 2025. One of NCSHA’s top legislative priorities, this bill establishes a federal tax credit targeted […]
Read More… from NCSHA Summary of Neighborhood Homes Investment Act
For nearly 40 years, the Low-Income Housing Tax Credit (Housing Credit) has been a model public-private partnership program, bringing to bear private-sector resources, market forces, and state-level administration to finance nearly 3.7 million apartments. Since 1986, the Housing Credit program has provided over 9.2 million low-income families, seniors, veterans, and people with disabilities homes they […]
Read More… from Affordable Housing Credit Improvement Act Center
The U.S. Department of Housing and Urban Development issued Title I Letter 490 on March 26, 2025. The letter removes the eligibility for non-permanent resident aliens to obtain FHA Title I loans, updating the requirements for permanent residents in the Property Improvement and Manufactured Home Loan Programs. The new guidelines stipulate that lenders must determine […]
Read More… from HUD Title I Letter 490: Revisions to Residency Requirements
