Policymakers are considering ways to ensure the mortgage servicing industry, the central plumbing of the U.S. housing financial system, remains functional during the COVID-19 crisis. The CARES Act creates the opportunity for a fast, efficient, cost-effective federal program that, in protecting servicers, protects homeowners for the long term. Authors Gene Slater, Ted Tozer, and Stockton […]
The U.S. Department of Housing and Urban Development published this report of demographic data about tenants living in Housing Credit properties, including race, ethnicity, family composition, age, income, use of rental assistance, disability status, and monthly rent burden. The publication of this data is required under the Housing and Economic Recovery Act of 2008. View […]
On March 30, 2020, NCSHA sent this letter calling on the U.S. Department of Housing and Urban Development to take immediate steps to ease deadlines and provide other needed program accommodations for the HOME Investment Partnerships, Housing Trust Fund, and Emergency Solutions Grants programs to help program grantees respond to the COVID-19 pandemic. View Document […]
These documents include a summary and term sheet for a Housing Bond Facility that the Treasury and the Federal Reserve System could establish to address COVID-19-related dislocations in the market for housing bonds. This facility could help HFAs while they are on the front lines of dealing with issues caused by the pandemic, including homeowner […]
Read More… from NCSHA Proposed Treasury-Federal Reserve Housing Bond Facility
This letter from NCSHA to Federal Housing Finance Agency Director Mark Calabria describes the urgent COVID-19-related liquidity needs of state housing finance agency (HFA) seller-servicers of Fannie Mae and Freddie Mac mortgage-backed securities and asks him to take immediate steps to help those HFAs to ensure they can continue to assist home buyers and homeowners […]
The U.S. Senate passed unanimously on March 25, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, after reaching agreement among Democratic, Republican, and White House negotiators. The House is expected to pass the bill on March 27. This memorandum summarizes the housing-specific provisions in the bill, including supplemental appropriations for HUD and other […]
Read More… from NCSHA Summary of Coronavirus Relief Legislation
On March 25, 2020, NCSHA sent this letter to Ginnie Mae urging it to help state housing finance agency (HFA) issuers of Ginnie Mae securities meet their pressing liquidity needs due to COVID‐19. The letter describes the servicing and liquidity concerns of HFA issuers and recommends Ginnie Mae provide relief to them. It also explains […]
Read More… from NCSHA Submits Letter to Ginnie Mae on COVID-19 Servicing Concerns
On March 23, 2020, NCSHA sent this letter calling on the Internal Revenue Service and U.S. Department of the Treasury to take immediate steps to ease Housing Credit deadlines and provide other needed program accommodations due to social distancing during the COVID-19 pandemic. View Document […]
On February 14, HUD posted a letter the General Deputy Assistant Secretary for Housing sent to Tribal Leaders. The letter, issued in accordance with HUD’s Government-to-Government Tribal Consultation Policy, requested feedback on regulatory changes HUD is considering proposing in forthcoming rulemaking to the usage of down payment assistance in conjunction with FHA-insured single-family mortgages. On […]
Read More… from NCSHA Submits Letter in Response to HUD Tribal Letter on DPA
